6 Mistakes to Avoid When Opening a Yoga Studio

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Before opening your own yoga studio, it’s crucial to know which mistakes to avoid on your journey to a thriving business. While a genuine love for yoga is a perfect starting point, you’ll also need to steer clear of these common errors when building the instruction space of your dreams:

1) Opening a Studio Before You’re Ready

If you’ve got a boundless passion for yoga, you may be looking to open your own studio as soon as you build even a small amount of experience.

But to fully prepare yourself for the challenge of opening your own studio, it’s smarter to take it slow. To boost your knowledge of the yoga world, try teaching in other spaces and getting a stronger feel for how a studio operates.

One major advantage to avoiding the rush: spending time in other studios also helps you cultivate relationships and establish contacts that could prove invaluable once you strike out on your own.

2) Failing to Assemble a Solid Team

No minor undertaking, opening your own yoga studio means signing up for an extraordinary amount of work. Although that often involves stepping out of your comfort zone and mastering new tasks, seeking the support of a solid team can go a long way in getting your studio off the ground.

During the planning stages for your yoga studio, take time for an honest assessment of your strengths and weaknesses—then start assembling a team that can take charge of the areas where you fall short.

That might include hiring a bookkeeper to help with your financial affairs, for instance, or enlisting a studio manager to oversee daily operations. You may also want to hire additional instructors.

3) Underestimating the Business Aspect of Opening a Yoga Studio

While the desire to open a yoga studio quite often has spiritual roots, it’s virtually impossible to run a studio without some serious business acumen.

 

One of the most essential facets of starting a yoga studio is sizing up your expenses. In addition to the significant startup costs (such as business permits, studio rental, and equipment like mats and props), there are many ongoing costs involved in owning your own studio. These costs include:

  • Accounting
  • Advertising
  • Insurance
  • Rent
  • Salaries for your team
  • Taxes
  • Utilities/phone

To get a handle on your expenses, map out your yoga studio’s objectives with the help of a business plan. If you’ve never created a business plan, there are plenty of books and online resources that can guide you. With the help of a solid business plan, you’ll be much better equipped to make wise decisions and prevent financial blunders. 

4) Skimping on Marketing for Your Studio

Your existing yoga community is a wonderful place to start when it comes to building a client base, but you’ll need many more patrons to keep your studio running. Along with tapping into your social network and making the most of such platforms as Facebook, Twitter, and Instagram, spread the word the old-school way by posting fliers around your community (including spaces like natural-foods stores, juice bars, and coffee shops).

As you’re expanding your online outreach, don’t forget to create a mobile site for your yoga studio.

Recent years have seen a remarkable increase in the number of people making buying decisions on mobile devices.

Another marketing tip: since more and more people are now turning to online reviews when deciding on a yoga studio, monitoring sites like Yelp should be a key part of your marketing strategy.

If you’re uneasy about the self-promotional element of opening a yoga studio, try hiring a marketing expert to help you attract patrons.

5) Ignoring Outside Revenue Sources

For many yoga studios, classes aren’t the only source of revenue. These savvy studios frequently rent out their space for events and workshops—a great way to bring in a profit even when classes aren’t in session.

Some studios offer online classes to broaden their reach. Experienced teachers may also offer yoga teacher training.

6) Giving Up Too Quickly

As with most businesses, yoga studios typically don’t turn a profit during their first few years of operation. 

The good news: by understanding which mistakes to avoid when opening a yoga studio—and carefully navigating past those potential missteps—you’re far more likely to find your way to long-lasting success.

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