How long is a piece of string ?...
Theres no definitve answer.. it depends largely on the number of people participating... I have seen "studios? " in London, ( way back )where one couple would be crowded !!..they were for priv. lessons only .
Nearly All my past studios were chosen for multiple task teaching ( with staff, in most cases ) I have two Prof. friends here, that teach in a downstairs room of their house ( Intern. style ) and its only about 15x12 ft
Ideally, of course, we would like a minimum of 25ft wide and 30/40 feet long. I currently use two locations.. one is about 20 ft wide and 25 long..other.. 30 wide and 45 long.
Also, the style you intend to teach, may have a bearing on "size " .
In addition, if practice sessions are to be added, then larger floors are more suitable .