Considering opening a yoga studio?
Then listen up!
Whenever you encounter a successful yoga studio, don’t think “oh they’re so lucky“. Luck may be a tiny factor (for some), but most likely, there’s someone (behind the scenes) busting their butts off to ensure success.
You see, yoga studio business success doesn’t happen by accident. It requires serious commitment, consistent attention to details, diligent planning and proper execution.
Deciding how to open a yoga studio and how to run a yoga studio can be daunting tasks, even for people with business backgrounds, but just like committed yogis follow principles for physical, spiritual, and mental fitness, so too successful yoga studio owners must follow guiding principles to ensure the on-going fitness of their business.
The 7 fundamental factors to yoga studio success:
- 1 – Know your demographics
This is Key! Research demographics and identify your target audience (your ideal clients). Do they work full time? Do they have young children? Are they retired? Do they have disposable income? Are they college kids?
Once you identify your target audience, this will help you determine other things like the best location to open your studio, your business hours, pricing structure, the styles of yoga that will attract the most clients, etc.
- 2 – Location
Finding the best location for your studio is crucial and can be a substantial factor in your studio’s profitability. You must satisfy questions like: is there enough parking? is there convenient road access? what’s the driving distance from where your main target audience lives or works?
You need to make it as convenient as possible for your target audience to visit you several times per week.
- 3 – Competition
Be well informed of how much competition you face. You won’t only have to compete with other yoga studios but also with gyms, hospitals and community centers that offer yoga classes. Competition is ok as long as the area is not already saturated with yoga classes, otherwise you will need to work extra hard at building your clientele, which can be achieved if you have substantial competitive advantages, such as: better location, better facilities and infrastructure, better teachers, better customer service, etc.
- 4 – Teaching Staff
This is perhaps the most critical factor in the success of any yoga studio. Yoga teachers are the living blood of your business because they are the ones who provide the main service to your studio clients. Substantial effort must go into recruiting, hiring, training and retaining your teaching staff. Decide from day one, to only work with highly qualified and professional teachers
- 5 – Pricing Structure
When it comes to yoga classes, you can be the cheapest or you can be the best. Or you can also be just average in which case you need to match the prices of your competition.
- 6 – Front Desk
Just like yoga teachers provide the main, or primary, service to your clients, your front desk staff is there to provide a secondary service, which is also very important to the overall experience a customer receives. A well-trained and courteous front desk staff can be the difference between the success or doom of a yoga studio
- 7 – Hygiene and Cleanliness
It’s alarming how many studio owners think they can get away with being less than impeccable when it comes to cleanliness and hygiene. Don’t be nasty! Make sure all areas of your facility are constantly well maintained and the studio floor needs to be kept clean and free of unpleasant smells at all times. This doesn’t mean covering up foul odors with air fresheners and other nasty chemicals. This means, you taking a hands-on approach to identify areas of concern, and making it a priority to sanitize and clean your place of business.
Before I close:
Did you find this helpful? Please let me know in the comments what you’d like to hear and read more of.
With SO much love ❤️,