I have been working in Yoga studios around the country for the last 25 years. I am a Yoga teacher, I have been a manager, a retail coordinator and in charge of marketing.
I owned and operated a Yoga studio for nine years before selling it in 2019.
I love sharing my knowledge and first-hand experience with Yoga Studio Owners.
Here are a few suggestions that I share with my clients:
1. Number one focus on attracting new students and retaining current students. If you are not getting new students or keeping them, creating a profitable Yoga studio will be hard.
Offer a new student special, create an experience, be consistent ,offer simple pricing, descriptions, and sequencing, create a referral program, send out thank you cards for new students and follow up with missing students.
2. Having a good group of yoga teachers can make a tremendous difference in the outcome of your business. Choose yoga teachers that connect with your students, use language that leads with clear and direct cue's, have a clear understanding of anatomy and sequencing, have a passion for the yoga practice, service, empowering others, teachers that market themselves and your yoga studio.
3. The adage "If you build it, they will come" can fool owners and teachers into believing that just because they've opened a new studio or teach a class, people will show up for class.Yoga is a highly saturated market; marketing and band identity are a must!
Be consistent in your social media marketing, place flyers, signage out in your community, create community events ,partnerships and .use email marketing.
4. Your brand is what you want customers to see and the reputation you want to create that people will associate with your business. Align your decisions with your vision and mission, be consistent with your offerings and quality of service. Always use your logo, colors and tagline in your marketing. Respond to customers questions and comments within 24 hours ,
5. Setting your rates is one of the most stressful decisions a business can make.
Simple pricing is a must! I recommend pricing based on your drop-in price and move down from there.Example; drop-in : $20 ,5 class pass: $90($18 per class). 10 class pass $160 )$16 per class) ,membership $99 a month .
6. The accuracy of your reports is a must to understand your business. Tracking your transactions helps you know your business, and it will help you adjust where needed.
Be sure to pay attention to overall income, expenses , class retention, attendance and memberships.
7. Creating multiple income streams allows you to have various cash flow sources coming in. This puts you in a better position to be prepared if one source of income is lower.
Some things to consider is teacher trainings, workshops, rental space, online classes, retail and summer camps.
Owning and operating a yoga studio is no walk in the park.
My hope for all Yoga Studio owners is to not only survive but thrive.
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