So you have made a choice: you wish to open up your yoga studio. You’ve heard the cautions, the numerous testaments of catastrophe, the rumours that it will drain your enthusiasm, but have picked to overlook them all because somebody needs to do it.
You are the figured out yogi who will get rid of the difficulties and effectively transmute your enthusiastic practice into a prospering business.
The general health market in India is estimated at INR 500 billion. Over the next three years, the Indian health market is approximated to grow at a CAGR of 20% to reach INR 900 billion.
Now, where do you begin?
You probably have a vision for both the type of studio environment you want to promote and the neighbourhood that you want to establish; if you do not, this is your step 1.
Not all yoga studios are the same;
Here are some crucial questions to think about before opening your yoga studio:
Will you use a range of designs or focus on one specific style?
Will the classes provided be heated up, unheated, or will you offer both?
Do you consider yourself more of a traditional yogi, or does the brand you intend to create lean more towards the contemporary?
Is music a big part of your practice and something that will play a crucial role in the classes at your studio?
What type of yogi clients are you looking to bring in?
How expansive will your schedule be? Will you provide classes to specialists, or do you want to eventually incorporate workshops, teacher training, and retreats into your business?
How late will your studio stay open, and the number of classes will you hold in a day?
What kinds of facilities do you want to offer your practitioners, and how will you cultivate a community – will there be a subscription provided, or are you sticking to class bundles and specials?
These are the concerns you ought to have responses mapped out to a yoga service as it is fundamentally different from other business endeavours.
If you do not understand your clientele or have plainly defined business goals and strategies, you are going to be significantly overwhelmed by a continuous swell of challenges.
Where must I open the Yoga Studio
Are you looking for a space with one ample area, or do you require multiple studio spaces for simultaneous classes (and how many students do you, ideally, want in the room, remembering you need about 20 square feet per practitioner)?
Every yoga studio requires a studio. Finding a strategic area, especially in an urban setting like Mumbai where rent is comically high, and your rivals lurk on every corner, can prove to be one of the most challenging parts of this endeavour.
Undoubtedly reducing overhead is a concern. However, you need to determine how much you’re prepared to invest in the procedure at first before your yoga studio starts earning.
Identify your ideal overhead costs– have finite optimums for your lease, renovation/building costs, and limited spatial requirements.
Utilize your ideal-typical class size to determine how big of a studio you’ll require, and then, if you wish to be able to hold classes simultaneously, how many studios will you need?
YOGA STUDIO LOCATION
In places like Bangalore, neighbourhoods consist of specific demography.
For example, Jayanagar is more family-oriented, M.G.Road is house to numerous corporate buildings, and Whitefield has a typically younger population. Choosing where your studio is located affects the type of yogis you will attract to your studio.
You should have a clear intention for your studio’s energy and be conscientious that energy matches wherever you choose to locate.
Going back to understanding your clientele, the yoga market in India is continuously expanding, and all of the businesses caught in the boom are competing for the same clients. Having something that sets you apart from the legions of other studios around could be the answer.
So initially, what is your studio requirement, and what are your means?
Here is where it is essential to have a vision of what you desire from your studio.
If music is going to be a central part of your studio’s classes, the acoustics of the space and stereo abilities, as well as sound control policies, require to be considered.
You should start your search with a clear list of requirements for space, and then a list of more flexible functions that you ‘d like the studio to have.
Do you already have the capital to fund the needed restorations, or will you need to raise outside funding? Possibly you have full funding and can buy a more expensive, done up space. However, you still can’t find what you desire, so you’ll need to utilize those funds to create the ideal area.
Are you looking for a comfortable changing space near your front desk check-in or a more of a comprehensive locker space set-up with showers and other amenities?
Whom should I hire
Look for instructors whose teaching styles will contribute to cultivating the energy that you seek in your studio and whose business practices are arranged and trustworthy.
When trying to find teachers and personnel, go back to what kind of energy you desire for your studio environment. While all employees don’t need to be carbon copies of you or your vision, they need to have objectives that are lined up with yours.
Like any service, constructing a team of individuals who have bought into your business’s culture is essential. All aspects of your yoga studio– and particularly your staff members– ought to understand your instructions, and actively help you in growing your vision into a reality.
Now that you have your area, it’s time to construct an equally crucial group of people.
While perhaps it isn’t needed that everybody on your team is a yogi, it is valuable. If the woman working at the front desk is a yogi, she will be more in tune with the needs of your clients, and, perhaps more importantly, she will most likely have a lifestyle that is comparable to yours.
Depending upon how large of an organization you prepare to run, your management needs will differ: bigger studios will need a more substantial front desk and general business management, upkeep groups, and, naturally, instructors.
How must I brand and market my Yoga Studio
Use your vision about the energy you want to flow through your studio to create a brand name that mirrors that energy; then, be sure to use the ideal marketing channels to target your typical consumers.
Getting the word out about your studio will be your next difficulty: the close-knit yoga neighbourhood (any place you are) is a beautiful location to implement essential word-of-mouth marketing.
Opening your yoga studio needs the same attention as any other small business. Recognize who you are, what you are using, and what will make you different from the yoga studio located a few blocks away– and think about your vision for your spiritual entrepreneurial adventure.