How can I manage a successful Yoga studio?

Yoga has risen in popularity in recent years and has completely revamped itself, adapting to the needs of the western population. But... Has your business also adapted?  

We tell you step by step how to open a yoga studio and succeed in the attempt.  

📝 Your mission and vision define your company 

Analyze what your essence is when planning your yoga studio. Being clear about WHY you do what you do is fundamental when it comes to transmitting that message to your clients.  

👀 Vision:the direction you are aiming for in the future. Define where you want to be and the values of your organization. 

🚀 Mision:think about how you are going to get where you want to go, what are your main goals and objectives related to your customers. 

If you are not sure where to start, take a deep breath and reflect on the following questions: 

💜 What are your personal strengths and qualities? We know that as a yogi you have to put ego aside, but I'm sure you can think of a few. 
💜 What are your core values? And we're not talking about the yamas and niyamas..... 
💜 What are your ambitions, where do you see your business in 10 years? 
💜 What is success for you? Besides reaching Nirvana, of course. 

Once you've answered these questions, you can write them down and keep it for your records. 

💶 Make a feasible financial plan

Talking numbers is fundamental when starting a business. You can count on an advisor to guide you in economic matters if it is not your thing, but the important thing is to be clear that the business you are planning is profitable. To do this, you can answer questions such as: 

• How many customers do you have to have to make your business profitable?
• Do you have to borrow money? How much time will you need to start making money?
• Are the prices you have set per class competitive?
• What is the potential audience for your business?
• What is the maximum rent you can afford? 

All these points are the basis for your financial plan, but there are many more to take into account, depending on the legislation in your area and the requirements established for this type of business. 

📍Find the perfect location 

One of the keys for your yoga studio to be successful is to find a perfect location. Yes, we know that it is not an easy task and that perhaps the ideal location is too expensive, but you should analyze if the area where you are going to locate has a large enough population and the number of competitors around you.  

Consider the following factors: 

💜 As a general rule, the average population you should have around your studio is about 50,000 people to achieve about 100 customers per month. 
💜 Calculate about 2.5m2 per student, so if you can find a rectangular shaped room it is ideal to accommodate more people. 
💜 Check the legislation in your area, some require showers or a specific number of bathrooms per student. 
💜 As it is a yoga center, it is advisable that it is well insulated acoustically or that it is not located in a noisy area. 
💜 The rent and expenses of the premises should not exceed 20% of your expected income in the first year.  

💬 Establish your marketing and promotion strategy 

✅Controls attendance and renewals 

If your marketing strategy has worked well and students have started coming to your center, you are on the right track! But now comes the most difficult task: getting your students to stay with you month after month and become regulars. 

To make it easier for your students to be comfortable, it's important to make life easier for them because no one who signs up for yoga wants to stress about going to yoga, right? 

Many yoga studios are opting for more flexible memberships, where students have a number of classes per month and can spend them whenever they want. Obviously, so that your peace of mind isn't compromised, you need to have software that manages bookings and payments so that you don't miss anything.  

On the other hand, if your customers are happy they can become part of your marketing strategy and recommend you to others - there is no better advertising than a good referral! 

🧘‍♀️Why use an App for your Yoga studio? 

Running a yoga studio can be very simple or very complicated, depending on the tools you have at your disposal. Unlike gyms, yoga studios have a business model oriented to classes and closed groups or pay-per-use. Whatever your business model, if you are still managing your groups by WhatsApp and you can't manage to do a pranayama without someone messaging you to change their class.... it's time to modernize! 

Do you want to have your own App?