Are you thinking about opening a yoga studio but don’t know where to start? Well if you’re taking the time to read this blog you’re on the right track. Yoga is incredibly popular in modern times with an estimated 28 million people taking classes in America alone. In this short blog we will be discussing 5 business strategies to consider before opening a yoga studio.
The first piece of advice is to start small. Focus primarily on what you can offer the earliest people joining your classes. If you rush to hire instructors before you have the income to afford them you might end up laying them off down the road. Don’t worry about buying all of the fanciest equipment, try to find ways to make your classes engaging on a small budget.
Buy A Web Domain
Start a web page. In 2019 the importance of a creating web page can not be understated. Simply having a webpage with a few pictures of your studio, a phone number and your physical address will make it much easier for locals who are interested in taking classes to find you. When people are trying to find a service in their area one of the first things they do (many times before even asking their friends for recommendations) is search for service providers in their area. If someone searches “yoga studio in my area” and they do not see your website there is a good chance that they’ll never find out about your studio. The more netflow you receive the more known your studio will become making it more likely that locals will show up.
Hold Themed Events
Hold themed events. Themed yoga events are in popular demand, whether it be an R&B night or a jazz night holding themed yoga events will separate you from your competition and draw attention to your studio. If someone happens to come across one of your events and enjoys your studio it could easily result in a new regular attendee. This is a nice way of advertising your studio for free.
Use Event Boards
Look for public message boards, this suggestion will also serve as free advertising. You can often find event boards in grocery stores and it community centers. However, in the technological era that we live in try not to limit yourself to the constraints of the past, there are many ways to post your events online as well. You could use facebook ads to specifically target people in your area but this cost money (usually about 1$ per day). There are also online message boards that allow you to post events for local people to browse through that are completely for free to use. Be creative in finding ways to increase your exposure without spending a fortune in advertisements.
Take Time Choosing Location
Do extensive research before choosing a location. Typically when running a yoga studio you do not want to be located on the bottom floor of a building (especially if you live in an urban area), it is too noisy and this may serve as a distraction to your class. If you choose a location in the center of town you most likely won’t be required to spend as much money on advertising but you will need to spend significantly more money on rent. Weigh all of these factors out before finalizing your location.
So how about now, are you still thinking about opening a yoga studio? I hope so, it could be a very rewarding and profitable experience. Remember to not over extend your funds when you’re getting started, set up an easy to use webpage with sufficient information, hold events that will attract attention and make your studio stand out. Take advantage of low budget ways to advertise your studio and do extensive research before choosing your location. Taking these 5 suggestions into consideration will serve as a great first step towards achieving your goal of opening a yoga studio.