Healthcare, Retail, Sports & Recreation

How To Set Up A Yoga Studio | Build A Yoga Room

Heal Your Mind, Body, And Wallet

These days, our lives can be very hectic, and many of us suffer some form of physical and mental stress. Long hours at work and demanding jobs often leave little time to do any physical activity, relieve stress, and improve overall health. Yoga is the perfect exercise for both the body and the mind. Over the last three decades, more people have been searching for a healthier and better life. They’ve become aware of yoga’s physical and spiritual benefits, and millions practice it regularly. Many of these people have moved on to become yoga instructors because they recognize there is a sizable client base for those considering opening a yoga outlet. Unlike franchise gyms, yoga studios are not as common, and those already in business enjoy a steady income. However, like any business, there are both pros and cons in opening a yoga studio.

Where Should I Open My Yoga Business?

Those who do the leg work before opening their business tend to thrive, while those who open a studio and wait for things to happen usually close up shop in a matter of months. There are many different forms of yoga, from ashtanga yoga, breath yoga, Bikram yoga, flow yoga, gentle yoga, chakra yoga, flying yoga, and much more. For those considering a yoga studio, here are some tips:

Here is a list of popular commercial real estate companies:

You have several choices, and they include:

Your home– but you may not attract many clients unless your home has ample space. Plus, your family may not like living in a yoga studio. Also, zoning laws may not permit you to operate a business from your home. However, the startup costs for a yoga business from home are low, and you also get tax breaks.
Rent a studio: Most people will rent a studio where clients meet regularly. While this is convenient, it is not an inexpensive undertaking. Rental fees and design can be expensive.
Freelance at the gym: Many exercise rooms and gyms hire certified yoga teachers to practice yoga. The classes are held every day, and you usually get a certain percentage based on the deal you make. There are no overhead costs, but the work can be seasonal and unpredictable, and you will lose some independence.

Freelance, work for a healthcare institution or a rehabilitation center. Patients in healthcare institutions and rehabilitation facilities always need yoga to help overcome physical and mental issues. Hospitals generally do not employ full-time yoga instructors because the number of patients available is unpredictable. However, there is an opportunity for freelancing when many patients are in care. Plus, unlike other businesses, hospitals also pay top dollar for good yoga instructors.

Corporations, Over the past two decades, many businesses and large corporations have encouraged a better work-life balance, so yoga has become popular during lunch or after work. Further, these companies also pay very well to freelancing yoga instructors. In most cases, the company will pay for a yoga instructor to provide these classes. However, the company may look for a yoga instructor inside its own workforce before selecting an external freelancer.
Teach online; with the availability of software programs, you can definitely promote yoga online. You may have to search for a program like Zoom and a payment system like PayPal. With the Covid pandemic persisting, this is not a bad idea. Your clients will love it as it cuts down on time to travel and gas and allows all clients to work out from their homes.

Yoga Studio Business Plan

Before you open a yoga studio, you’ll want to create a business plan for more insight into your idea. You will then become aware of the potential issues that can crop up. The plan should contain the following:

Where will I open my yoga studio? Home, gym, or rent studio?
What are the startup costs for a yoga studio?
Is there any competition in the local area?
Obtaining a license to operate a yoga studio?
Who are my clients?
How will I attract clients?
What should I charge for my services?
What types of supplies or tools do I need?
What are the pros and cons of a yoga business?

Yoga Business Plans

There are some handy services available online

Some business plan templates that you should consider include:

Do I Need To Be Certified To Open A Yoga Studio?

The answer is yes. You must complete formal training and be certified before opening a yoga studio in most states. Also, most of your clients will ask if you are accredited.

Here are a few accredited online yoga instructors courses

What Are The Startup Costs To Open A Yoga Studio?

Leasing a studio for 50 clients or more can cost anywhere from $2,000-$5,000 a month in rent. Other startup costs include:

Utilities $200
Legal fees $500-$1,000
Design $1,000-$10,000
Mats and props $1,000
Marketing $100-$500

To open a decent size yoga studio, at a minimum, you will need about $10K and have another $20K to support you for the next six months until business picks up.

Here are a few of your funding options

Small Business Administration

The Sma ll Business Administration, SBA has a program to fund new startups and is worth a look

Staffing

Staffing agencies that you may want to use:

Should I Invest In A Yoga Studio Franchise?

There are several popular yoga studio franchises, but you must do your homework. These franchises have high initial fees that range from $10K- to $30K. Plus, there are other fees like royalty, administrative, marketing, and design fees.

The advantages of owning a yoga franchise studio include:

Already established customer base
Well known brand
The franchise will train you
You will get marketing support
Financial support is available

What are the disadvantages of owning a yoga franchise studio?

Fees that can be significant and recurring
You have little independence for creativity
Most franchise studios have long-term contracts, and there are huge penalties if you decide to terminate early.

Here are some popular yoga franchise opportunities

How Can I Market My Yoga Studio?

The next step in opening your yoga room is to create a suitable marketing strategy. Here you will need to assess the different options available to you and their cost to identify those to prioritize.

This strategy should answer two main questions:

How to acquire new customers?
How to build customer loyalty?

You may want to consider the following actions:

Create a showcase website with possibly an online reservation system or merchant space to sell accessories or products from partner brands.
Implement a natural or paid SEO strategy on search engines with keywords related to your activity.
Create a blog or a newsletter and communication on social networks.
Implement a loyalty card system.
Begin an advertising campaign at the local level, posters, local radio stations, and local newspapers.
Distribute flyers in mailboxes and local businesses.
Partner with works councils and coworking spaces.
Develop a company website
Drop your business cards with gyms, rehab centers, hospitals, corporate offices, etc.
Develop a video of your yoga classes
Offer free classes

Build Your Own Yoga Studio Website

Create a showcase website with possibly an online reservation system or merchant space to sell accessories or products from partner brands.

Your yoga studio domain name protects your website address. You can register a domain name with any hosting company you find.

Some of the common domain registrars include:

Here is a list of some options for building a regular website.

Here is a list of drag-and-drop page builders for WordPress.

The recruitment of clients should depend heavily on the size of your business. Suppose you decide to create a sizeable studio. In that case, you will need staff to perform the following functions: reception, administration (accounting, payroll, room management, management of schedules, etc.), and of course, the teachers.

You will need to provide several elements, including:

Yoga mats, meditation cushions, and yoga accessories (depending on the type of yoga you want to practice).
Renovation and development of the premises.
Administration equipment: computer, printer, legal documents.
A website and promotional material (signs, flyers, and brochures).
Equipment for changing rooms and possibly showers.

Yoga Business Insurance

Additionally, you will need professional insurance. If you are a teacher and affiliated with a federation of yoga teachers, you can subscribe to your organization’s insurance.

Here is a list of some insurance companies

Best Places To Get Small Business Insurance

You may also want to outsource maintenance and cleaning to an outside company or even delegate part of the administrative management to the care of an accounting firm. If you want to assess the cost of each of these expenditures as accurately as possible, request quotes from various potential suppliers.