Why You Shouldn’t Open A Yoga Studio
You read it right, you shouldn’t open a yoga studio… Unless you do this FIRST!
I don’t want to start this post off with anything negative, but having an award-winning yoga studio doesn’t come easy (trust me, I know!). With the right strategy, it can be easier and a heck of a lot less stressful!
When I decided to open my studio I had ZERO business knowledge. I mean, I was SO green I had no idea what revenue meant… net, gross, what IS that?! I got a huge business from one day to the next with employees, massive overhead and major expenses.
I was drowning in work; projects, payroll, classes, UGH! I had never done payroll in my life. Thankfully I had admin jobs in the past, but nothing like this. It was literally 17 hats all day, everyday. Dealing with water and plumbing issues while having to promote an event, then teaching my class. It was madness.
DID I MENTION AWARD WINNING?
With all that mess one thing we did right was quality and branding. Why does that matter? First of all, when you have a good product people recognize it instantly. People start spreading the word, creating a marketing campaign for you. Our branding was on point as well, meaning everything matched our guidelines, was easily recognizable and looked fresh. Opening a yoga studio is no easy feat, but it changed my life.
That still didn’t clean up the mess we had no idea how to handle, but because of hustle and resourcefulness I was able to figure it out with my partner. We asked the questions we didn’t know, we created magic out of thin air with elbow grease and good intentions.
This still left me drained and well… unmotivated. I had no idea how to increase our revenue or attendance. It was always up and down with classes and income. Have you ever felt this way?
Keep reading and I’ll tell you how we turned it all around.
HOW IT ALL SHIFTED
When I realized I could no longer do what I was doing the way I was doing it, I decided to look to see who could empower me with the right knowledge. VIDYA. I know a ton about yoga, asana, meditation… because since I was 23 all my attention was focused there.
You see, I had to realize that my attention had to shift elsewhere to make not just my yoga studio, but my entire life, be more successful. That meant having more time, more space, less worry, less stress, more abundance.
I sought help. I asked the right questions. I enrolled in a mastermind program and got my business pants on (on top of my yoga pants that is) and get my other side of my life get busy. What happened? Our income grew because of 2 or 3 little changes. We had a system, an organized system. I hired the right people and I gave myself days off. I also created other revenue streams to sustain my lifestyle. I wanted better.
I know you’ve heart not to put all your eggs in one basket, instead have many baskets with some eggs. My advice to you who want to open a yoga studio is to break the model. Create a business that is innovative, fresh, exciting and makes you feel good.
Also know there are other ways to create an awesome yoga business besides having a full blown yoga studio. Having high overhead is the number one quickest way to go into debt and possibly fail. I am here to answer your questions and be your guide.
If you are thinking of opening a studio, let me know as I have some nice tips for you – we need more yoga in the world, but less broke yogis. Just schedule a free call at http://bit.ly/BizzyYogi.
If you’ve already opened a Yoga Studio and you’re stuck in a rut or stressed from all the work, just read this post >>> Analysis Paralysis: The ONE THING That Holds More Yogis Back From Greatness Than Any Other
P.S. In the meantime, why don’t you take my fun quiz and learn what your Yogi Archetype is if you haven’t already!!
Have specific questions? Let Ari, the Bizzy Yogi answer them! Ask your question below and we will answer it in our weekly email OR in a FB Live webshow – we’ll even give you a shoutout! Just type *anonymous* after your question to remain anonymous.