How to Open a Yoga Studio and Make It Thrive in 5 Steps
Each year, millions of people join yoga studios to improve their health and keep fit. Here is how to open a yoga studio and make it thrive in five steps!
Can you believe two billion people around the world practice yoga? There’s no doubt you’re considering a viable option if you’re wondering how to open a yoga studio.
In truth, the entire process can be broken down into five easy steps. That’s not to say each step will be easy, but the blueprint isn’t formidable.
With a firm idea of your mission, a highly-detailed business plan, and a keen eye for your staffing needs, you’ll be well on your way to a beautiful space that will change the lives of others.
1. Be Sure of Your Purpose and Intent
What prompted you to turn this dream into reality? Are you interested in promoting overall health and wellness? Are you focused on bringing the community together?
What type of yoga interests you the most? Having a clear vision of your purpose and intent (or mission statement) will be the guiding principle for everything else you do.
2. Create a Business Plan
A clear mission statement is the seed that makes the business plan grow. A business plan plucks your dreams from out of the air and molds them into tangible elements.
This is where you’ll want to include your market analysis, the source of your funding, financial projections (i.e. membership pricing and studio management software), and your brand identity.
3. Start Shopping
Now, it’s time to go shopping. Start with the real estate. Look for a space in a popular location at a price-point you can afford. Make sure parking won’t be a deterrent to your future clients.
Next up, it’s time to consider equipment. Clients will love seeing a well-stocked studio, complete with blocks, pillows, weighted blankets, bolsters, and straps. Even though many clients will bring their own mats, it’ll be wise to stash a few extras.
4. Start Staffing
More than the prettiest space and the finest equipment, a first-rate staff is what will seal the deal. Will you need to hire a manager?
How many teachers will you start off with? Don’t just wing it, as you make your hiring decisions.
Be sure to create a formalized employee contract and handbook.
5. Market Your Opening
Marketing will go on to be your best friend, from the weeks leading up to your opening to the day you sail off into retirement.
Before you open your doors, you’ll want to consider a presale deal to attract your first customers. Great examples include a one-month unlimited introductory offer or a discounted annual pass.
From then on, it’s all about attraction. If you run the finest classes with the most welcoming instructors, you’ll be well on your way. Continue to discover new leads, utilizing your studio management software, and host community events.
How to Open a Yoga Studio and Succeed
That’s how to open a yoga studio! For more tips and tricks – and solidarity – come on over and join our small business forum. It’s a wonderful gathering place for your entrepreneurial friends.
Best of all, we even house a database of templates and forms to help you stay organized when staffing your beautiful space. Enjoy joining the ranks of all the life-altering yogis around the world!