How to Start a Yoga Business
Not only is yoga great for the body, but it also profits the mind, the soul, and the treasury of its facilitators. According to Statista, the yoga industry was set to reach a valuation of $11.6 billion in 2020 in the U.S. alone. However, recent events have made yoga practices more popular and accessible, meaning that that figure will almost certainly be toppled before the end of the year. In this article, you will find all you need to know, including nine proven steps to starting a yoga business.
Yoga is an art; it is more than just exercise; it’s not about how much sweat you break or how many calories you burn. Seeing how much impact the yoga sessions have had on attendees will bring liberation to the business owner and trainers. It is a kind of business that does not require a degree from any institution to practice. The competition can be stiff, but you will make a profit through smart business planning.
Starting a yoga business
Going into this venture involves some vital steps and guidelines that need to be followed. Keep in mind that you are starting a business, and every company must have a plan. Your business plan will be your guide through the new adventure that is the yoga industry. What your business plan should contain are the realities, the mode of operation, possible wins and setbacks, the budget, the vision, and other essential details about the business.
Know yoga
You can’t give what you don’t have; you can’t teach what you don’t know. Every yoga business owner must know and understand the essence of yoga. Whether you intend only to manage the daily activities of the venture or do more, you must know yoga. Knowing yoga is not limited to grasping the different techniques; it also involves understanding how the business works. Almost all yoga business owners are yoga instructors, and even if you aren’t cut out to be one, at least be a yoga enthusiast.
It is easier to launch your business when you have built a good relationship with your potential and existing clients. To create a relationship with your probable clients, they would have to feel like you understand them. It takes one to know one, and if you know little to nothing about yoga, it could affect the way they see you. You are the face of your business; if you go down, your business goes down with you.
If you intend to teach yoga to students or trainees, you should go for a yoga teacher’s training. It is one thing to know how to practice yoga and a completely different thin to teach yoga. Look for reputable yoga teachers training schools and get certified at the end of the training.
Starting any business will be boosted by the owner’s experience in operating in a similar capacity. Having work experience in this industry will beef up your chances of running a successful business. If you can, work part-time at a yoga studio for the sake of learning the ropes. Industry secrets will be revealed to you in the process, and you will be more than equipped to start yours in a case whereby you’ve never had work experience at a yoga establishment, your involvement as a yoga class attendee matters. If you’ve been taking notes and asking questions while you’re still attending a yoga class, you would know just about enough to get you started.
Build a customer base
Starting a business of this magnitude is not easy as there are many competitors, and many people are still not sold on the benefits of yoga. A typical yoga class has only a handful of people in attendance despite the health benefits. Established yoga trainers are still looking to get more participants, and this shows how priceless a new member of the class can be. Therefore, if thriving businesses in the industry, with their resources and clientele, are still scrambling to get more members, know that it won’t be any more comfortable for a starter like you. The best way to get started is to begin building your client base before launching your business.
Right from when you begin brainstorming ideas on how to get the business running is when you ought to have commenced building a relationship with your potential clients. Build a better relationship with your fellow yoga students and share your opinions concerning yoga with them. From there, you can get ideas on what they would like or look for in their ideal yoga class. Going out more will also help you find more people to build rapport with and form a relationship until you get everything set.
Places like parks, recreation centers, and even gyms can be excellent places where you will most likely find those who might be interested in yoga. You could also visit care homes, become a regular visitor, get acquainted with those in charge of the facility and the older people themselves, and build a relationship with them. All these you can do before and after you launch your business.
Select and focus on one or two yoga styles
There are different types of yoga. They may all look the same to a novice, but every kind of yoga serves a distinct purpose. Yoga does not just exercise the body; it is also a form of spiritual exercise and mental health therapy. Of course, practicing every type seems reasonable, but in this business, less is more. It will do you a lot of good to be regarded as a specialist in one or just two yoga techniques. Some of the common types of yoga include Ashtanga, Kundalini, and Hot yoga. Hot yoga, for instance, has gained a lot of popularity in recent times, especially in metropolitan areas, and the demand for it is increasing. The style you wish to specialize in will determine how you market and brand the business. Each form of yoga already has its enthusiasts; therefore, it would be easier to attract those who have a desire for that niche.
Decide on how you want to operate
There is no “one size fits all” form of operating a yoga establishment these days; it all depends on what you want. Also, it depends on what you can manage, what you are comfortable dealing with, and how much you have to run it. The traditional method of running a yoga business is getting a place where you can set up a yoga studio. This is still very effective today, even though it has its challenges. A yoga studio is helpful for instructors, business owners, and students. For those working at the yoga studio, it’s their office. They get to separate work from their personal lives, which is the right way of striking a balance in that regard.
Similarly, the attendees will see the yoga studio as a safe place. It would be a place where they can be guaranteed relaxation and quickly shut out every form of negativity. The flip side of this is the cost of securing a yoga studio. Rent can be expensive, especially in cities, as well as other bills attached to opening a yoga studio. There are also zoning laws depending on the location, which might make you not get a permit to open a yoga studio where you intend to.
Online yoga training services have received a big boost recently, mainly due to the negative implications of COVID-19. The effects of the global pandemic which could alter the order of the world for good as we know it is ironically suitable for yoga. More people have become remote workers, and even students have been taking classes at home. With this unexpected development, many businesses, including those in the health and fitness industry, are operating online. Yoga classes have become more popular online and more accessible, thereby providing instructors with more options. With a social network account or a website dedicated to yoga, you can get people tuned in and train them online. No matter where you are, with this, you can instruct anyone and run your business smoothly. Provide convenient payment options for your clients; get an online platform, and use applications for making conference calls.
Another option is to go mobile. More yoga business owners are either adding this to their list of services or completely switching to it. Operating a mobile yoga business has many benefits that might make you prefer it to others. The first and perhaps the most critical advantage is that it saves money. The cost of running a yoga studio has forced some businesses to shut down. The maintenance, rent, and extra bills are eradicated when running a mobile yoga establishment. The tools you need will not all be provided by you, and your client will select the place. All you’d need to worry about will be getting to the location along with your team. Individual clients might ask you to come to their homes; some groups of people would prefer to use parks and open spaces. In contrast, corporate organizations would use their gym facilities or any other appropriate place for yoga classes.
You will not be able to run all three or more forms of yoga services in the early stages of the venture. The cost of carrying out these activities, the bills, and the workforce needed to see it done might overwhelm you. It is advisable to focus on one kind and expand as time goes on.
Go for a yoga license
You should look at obtaining a license if you intend to venture into this business, albeit not mandatory. It would surprise you to know that some of your clients will look around for your yoga license. Some will outright ask you if you’ve got a yoga license before signing up for your yoga training.
Now, how does one get a yoga license? There are recognized and reputable yoga bodies that are you can get a license from. One of them is the Yoga Alliance. The Yoga Alliance and other associations affiliated with them give yoga licenses. The Yoga Alliance is an organization that regulates the practices in the yoga industry. They also set the standard for yoga practices for both instructors and yoga trainees. You can get a license as an individual or as a yoga instructor. Since owning the business does not necessarily mean that you must be the instructor, you can choose an option. It costs approximately $80 for an individual to get a yoga license from the Yoga Alliance.
Apart from the license, you will receive from a yoga governing body. You might need to get a license from the government agencies in your locality. To be on the safe side, do your research to know what to do lest you commit an offense. The government agencies responsible for granting new business permits in the vicinity would have to give you a permit to run a yoga studio. Before securing the permit, your business center might need to undergo some inspection. Ask questions from other business owners and be guided on how to go about preparing yourself for the investigation. These permits, along with your license, will give you every right to start your business.
Choose an ideal location
What works downtown will most likely not work the same way in the suburbs. Like any other business, where you choose to site your business or operate from can quickly determine how successful it will be. The first thing to look at before choosing a location is the inhabitants’ response to yoga. If you’re in a place where yoga is embraced, it would be easier to market your brand. Starting a yoga business where it is still regarded as either unnecessary or a foreign concept will cost more to market your business. You’d have to spend more to advertise, offer more significant discounts to entice customers, and spend more time strategizing marketing techniques.
The level of competition will also determine your success rate wherever you would like to set up your establishment. It would not be wise to ignore those that are already in the business in that area before you for many reasons. They must have made some mistakes along the line, which cost them, while some might be struggling to pay rent. The successful ones will surely have ways of making ends meet, and there will be a few things to learn, as well. Learning from your competitors will save you precious time and money. The number of competitors is also something to look at; too many people doing the business on one street is a big red flag.
The building you’ll want to rent (if you’re planning on getting a yoga studio) is also part of the location. If everything goes well and the neighborhood looks good for business, look carefully before you rent a studio. A change might be about to happen that will affect the company in the long run. Some shady landlords who are looking to sell their property would still go ahead and rent it out. The whole block might be up for sale or demolition, and even though you might get a refund, it would affect the business. Also, after you must have spoken to the landlord or those in charge of the building, ask people around for more information.
Make sure the location has little to no competition before securing a place. Study the way other businesses price their services and figure out a way to make yours competitive. Take a good look at the area and observe the trend; see if there is a particular form of yoga they embrace more than others and consider starting with it.
Read Also: How to Choose Business Location for Your Business
Get a team to assist you
Don’t make the mistake of doing it all by yourself, instead hire those who can support you. This is necessary so that you can focus on the most important aspects of the business. There are books to be balanced, customers to bring in, marketing and other running costs take care of. All these should not be done by you alone. If you find out that the financial implication of operating this business will be too much, find a partner. Share the profit, loss, responsibility, and every other risk involved in this venture with at least someone if you must. After that, get professionals in different positions to help move the business forward. If you realize that there is a yoga type that you are not great at but, that’s in demand, hire another instructor. Hire an instructor even if you are great at everything yoga so that you can get some weight off your back. While you might be able to market the business, manage the customer relationships and online presence, pay others to do it as soon as your business grows.
Promote your yoga business
You’d probably need a team of seasoned marketers for this but, before that, you’ll be responsible for it. Bringing new faces through your door or getting people to subscribe to your services online takes work. In a world where most people still have not bought the idea of yoga, every new member is priceless. Figure out a marketing plan that you can finance and make a budget to guide your spending. Start by defining who your customer is and where you can find them. Who needs yoga? Who does yoga appeal to? These are some of the questions that will point you in the right direction.
Seeing that yoga transcends beyond meditation, which is good for those with mental health issues or stress, you know where to look. The typical 9-5 worker is usually stressed out and yoga would help relieve the pressure. Use the old fashioned word of mouth promotion for your business. Approach companies with suitable slides (and if possible, a presentation), and offer to give yoga lessons at a reduced price. Pay visits to rehab centers and sell them the idea of incorporating yoga, if they haven’t, in their program. Pop in on care homes for the elderly and promote your business. Offer yoga classes to keep the elderly in good health and they could be your clients.
Social media cannot be taken out of the list of methods of selling your brand. Create business social media accounts for your business and let people in on what you do. Use your online platforms to draw attention to your business. Come up with engaging events, promos, and even promote other related events online to cause people to take a look at your account. Also update your business’s online platforms with photos and short videos from your yoga classes. Add links to articles, yoga-related products, and any other material that would help yoga students to your social accounts. These practices are some of the easiest and cheapest means of spreading the word about your business.
Get inspired
You will need all the inspiration you can get in this market as running it, especially at the start, can be a test. As a yoga instructor or entrepreneur, everyone expects you to always be positive no matter what but, in reality, it’s not always going to be that way. The challenges of the business can easily make a business owner stressed than they should be. To keep moving no matter the problem, let the inspiration start with you. This is the hardest thing to do but it is what a shot. Always remind yourself how far you have come and how much bigger a calling the business is than the obstacles to renew your hunger. The second way to get inspired is by consciously fuelling your love and desire for yoga. Stay connected to everything positive about the focal point of your business. Regardless of whether your business is going well, look out for the admirable things about yoga to get fired up. Follow other top yoga gurus, read blogs and subscribe to yoga channels and join a yoga community to be engaged with like minds. A somewhat unlikely source of inspiration will be your clients. The positive comments and reviews they give concerning your business will lift your spirit. Some yoga instructors have spoken of how the kind feedbacks from their students have helped them power through in difficult times. Some will tell you how your methods have helped them spiritually, others could be health-related, but it will inspire you to do more.