How to Start a Yoga Studio

Yoga at the mall

The decision to start a yoga studio can be a big decision to make. There are risks to be considered, but if properly managed and with a little luck, the decision to start that yoga studio could very well turn out a sound investment. Not only can the monetary rewards be great, but you will have the extra thrill and satisfaction of knowing you are improving the quality of life for many people. If this prospect sounds interesting, read on to learn how to start a yoga studio.

Difficulty:

Moderate

Instructions

Things You'll Need

• Photo identification
• Start-up capital
• Knowledge about yoga

1. Come up with an idea for your yoga studio. Perhaps you are already teaching a yoga class and would like to move your students to a studio you own yourself. Perhaps you have no interest in teaching yoga yourself, but will hire yoga instructors so that your time can be used to focus on the business side of the yoga studio. Come up with a rough outline in your mind of how your yoga studio will operate.

2. Commit your ideas to writing by drafting a business plan. There are many free business plan templates online. You can download one of these and fill it in with the information for the rough outline you thought of in the first step. This will help you identify and rectify any wrinkles or problem areas, and will also give you a defined course to follow when you begin to actually run your yoga studio.

3. Think of a name for your business. What’s in a name? It could be everything. The name is how your customers will identify your yoga studio, and it could help to shape the first impression that those customers have. In many ways, the name you choose could make or break your business, so don’t rush the decision and take as much time as is needed to think of the name that feels perfect to you. It is usually a good idea to think of a few possible names, so that you will have alternatives available in the event that your first choice is not available.

4. Obtain sufficient financing to start your yoga system, and to continue running the operation for the first six to 12 months, allowing you time to begin earning a profit. Most people obtain their start up investment from their savings or from loans made by family and friends. If you have an incredible credit rating, then you may be able to get a personal loan or small business loan from your bank, to help with the start up costs of your yoga studio.

5. Register a company to serve as legal business entity for your yoga studio. You can usually file business registration papers at your local County Clerk’s office, or mail them in directly to the Secretary of State, along with any applicable filing fees. You will need to register your company as a sole proprietorship, as a general partnership or as a limited liability company, depending on the circumstances of the financing for your yoga studio.

6. Find a location to be the home of the yoga studio that you start. If you have existing customers from a yoga class, then you may wish to accommodate them by trying to select a location that is centrally located to everyone. Otherwise, you may want to just find a reasonably priced studio building in an area with a high concentration of people, maximizing your chances of obtaining new customers.

7. Furnish your new location. You will need to furnish your location to make it workable as a yoga studio. You may wish to line the walls of the main yoga room with mirrors so that students can better study and correct their positions. You may also wish to have a number of mats available, in case new students do not have their own, and furnish the reception area and offices in a manner that is conducive to conducting business.

8. Hire your staff. Determine how much staff you will need and what positions will need to be filled. You will likely need someone to work the reception area to answer telephone calls and to greet members. You may need to hire either yoga instructors or an office manager, depending on how you would like to spend the majority of your time.

Tips & Warnings

• You may wish to also have products available for purchase at the reception area. This will add money to the profits of your yoga studio, but it also means that you will need to also go through the step of finding a supplier who can give you the products at wholesale prices.