The borough undertook the exercise after receiving an extra 700,000 in government funding on top of its 6m budget.
Kathy Tracey, executive member for children and young people's services at Wandsworth, said: "This extra money is giving us the opportunity to look at what is out there."
She said one suggestion was to build five or six sites specialising in areas such as music and sport.
"At the moment we're spread thinly," said Tracey. "Some services are outdated. They are popular with a certain type of young person but not all of them."
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