I specialize in working with people who either own a yoga studio or who plan to start a yoga studio. Over the years, I've found that there are definitely some things that work, and many that don't.
(prHWY.com) January 3, 2013 - USA, NY -- As the Christmas and New Years' holiday season approaches, it's a time when we think about the changes. With a new year, it's the chance to put into action some of those things you may have been thinking of. For those who teach yoga, or who have an interest in
yoga business, this may be considering
opening a yoga studio.
I specialize in working with people who either own a yoga studio or who plan to start a yoga studio. Over the years, I've found that there are definitely some things that work, and many that don't. I apologize in advance if some of these are hard to swallow, but please know that I'm sharing them because I want to see you succeed if you decide to open a yoga business.
Okay, so here are some keys to being successful. If you take time off for Christmas and New Years' you may want to spend some of it considering these in depth:
1. Plan to spend most of your time doing things like bookkeeping, teacher management, dealing with student questions and complaints, paying bills, managing cash flow, and, most importantly, marketing. No, I didn't forget about teaching yoga. But the truth is, most studio owners find that they only have time to teach a few classes a week if they're doing a good job running the yoga business side of the studio. (One exception is that if you're a one-person-show, you may have slightly more time to teach, but marketing will still be your top priority.)
2. Before starting a yoga business, figure out how much money it will cost to do so. Then plan to have an extra 50% reserve cash. Experience shows that it ALWAYS cost more than you expect. I don't think I've spoken to a single studio owner who told me it cost less than they planned to start a yoga studio.
3. Be willing to accept that money is a good and necessary part of running a yoga studio, and especially of opening a yoga studio. I know it may seem natural to feel that as such a spiritual practice, money is somehow "beneath" yoga - certainly not something you should focus on. I wish this were true, but if you talk to anyone who has owned a studio for more than a couple of years, they'll tell you that while they don't run a yoga business mainly for the money, that it is a major focus of their time and energy. You see, money is the fuel of business, just like gas is the fuel for your car. I don't focus on putting gas in my car, but I am well aware that I ignore it (as I've done on occasion) that running out is an absolutely miserable experience. Running out of money in a business is way worse.
4. Make a business plan. Failing to plan is planning to fail. A business plan doesn't need to be a long formal thing that banks require for loans, but it should have the same key components. After all, the reason banks require one to issue a loan to someone who wants to start a yoga studio is because they know that most businesses that don't have one will fail, and they only want to lend money if they can expect to get paid back.
So, this Christmas season, if you're planning on starting a yoga studio, give yourself the gift of creating a thorough plan for your yoga business.
To download your free copy of "The 10 Biggest Mistakes New Yoga Studio owners Make", visit
www.centeredbusiness.com.
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