About 36 million people in the United States practice yoga. This might not sound like a lot, but when you consider the fact that this number has grown 50 percent in four years, it becomes clear that yoga is a popular activity.
And if you’ve got an entrepreneurial spirit, you’ll know there’s money to be made in this niche market. All you need to do is open a yoga studio.
However, a thriving market doesn’t necessarily guarantee business success. If you don’t get the basic rights, your yoga moves won’t amount to anything.
Here’s a lowdown of crucial elements you must get right when starting a yoga business.
1. Business Plan
What comes to mind when you think of a yoga business? Probably an airy room with large windows, floor mats, and a couple of plants.
Now, setting up such a space looks easy, right? Well, if that’s what you thought, you’ll be making a big mistake. No matter how small a business is, it still needs a business plan.
As such, one element you must nail when starting a yoga business is the plan. This document fleshes out important details about the business, including the name, location, types of yoga services offered, capital requirements, and a sales and marketing strategy.
With this information, you’ll have a clear picture of what the business will look like before you even set up the studio and start letting yogis in.
2. Proper Yoga Studio
A simple “yoga studio images” search on Google is enough to give you an idea of what a proper yoga studio looks like. Most spaces look inviting; a place you’d naturally want to go and be alone with your thoughts.
You must build a proper studio. If you know little or nothing about interior design, don’t fail to hire a specialist who has sufficient experience designing yoga studios.
A big part of yoga involves getting in touch with your environment. If the space is off or doesn’t feel tranquil, customers won’t be coming to your studio.
3. True Yogi Leading the Studio
When people go to a yoga studio, they aren’t looking for a space to hang out on their own. They need a studio with a true yogi leading the sessions.
This is why you need to hire an experienced yogi and let them be in charge of the sessions.
If you’ve got no yoga knowledge or experience, just focus on running the commercial side of the business.
4. Digital Marketing Strategy
When you start out a yoga business with a business plan, you’ll have an idea of the marketing techniques you will need to implement as soon as you open the business.
Most yogis are millennials and Gen Xers, which means your marketing strategy has to be web-based. These people spend most of their time online, so your business needs a heavy presence on social media. You can also run pay per click ads.
Adopt these best digital marketing practices or consider outsourcing your marketing to a digital marketing agency if you want the best results.
Get These Elements Right When You Start a Yoga Business
The number of yogis is only going to increase, which is good news for everyone who wants to starts a yoga business. If you’re already planning to start yours, be sure to follow the advice fleshed out above.
Keep reading our blog for more small business tips.