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Yoga is a physical, mental and spiritual practice that has its roots in ancient India. Yoga Journal estimates that 15 million people practice yoga in the United States. With the amount of interest in the practice, it is natural that avid yoga practitioners and teachers are becoming increasingly interested in running yoga studios. Running a yoga studio is very different from just being a regular practitioner, however. There are many steps involved with running a successful studio that you should take into consideration before you attempt to do so. |
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Step 1 Write a thorough business plan for your studio to give you a clear idea of what it will take both to start and run it on a regular basis. Make sure to include the target market of your clients, a description of your marketing strategy and your best estimates of startup fees, revenues and ongoing expenses. Step 2 Hire outstanding yoga teachers and studio staff. Define the positions you need. Decide what the most important qualities are in the people you want to work with and then use these as a guide for hiring the right people. Step 3 Create a compelling "tag line" to attract customers to your yoga studio. Make sure your tag line includes your way of identifying yourself and your specific yoga studio target market. See "Tips" for sample tag lines. Step 4 Market your studio's services by using your yoga studio target market (including the demographics and psychographics, or character, style, philosophy and inner workings of this group). Figure out where your clients shop, what organizations they belong to, what magazines they read, who refers them to your studio, what directories they are listed in, etc. You can then target these places to market your studio. Also figure out what the biggest pain of your target market is. Create a core marketing message to reach your target market and address their pains. Step 5 Figure out how you will specifically provide information about your studio to members of your target market. Decide if you want to use fliers, brochures, newsletters, presentations, workshops, website content, articles or reports to reach your clientele. Step 6 Use special promotions (such as free introductory classes or unlimited monthly class packages) to attract and retain students. Step 7 To increase your revenues, analyze your target market. If you have mostly affluent people who wouldn't notice or mind a price increase, you can raise your single class price. Otherwise, you can still increase your class prices and use this as a way to encourage students to invest in purchasing class packages that make the price of each class cheaper. Step 8 Purchase yoga books, mats, clothes and other accessories related to the practice. You can buy these from a manufacturer for fairly low costs and sell them for higher than what you paid to purchase these things. |
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