Opening a yoga studio: costs, the perfect size, staffing
Opening a yoga studio isn’t just about cute mats and spa water – if you’re looking to make a profit in the yoga industry, you’ll need to understand the ins-and-outs of the business. Knowing about the hot yoga near you, yoga dimensions, and other yoga studios in the area can help you understand the competition and create a unique selling point for your own studio.
Initial costs of starting a yoga studio
The pros of yoga businesses: as a yoga studio owner, starting your yoga studio business with minimal equipment is possible since you really only need your body and a sturdy, flat ground to practice. However, finding the right location for your yoga classes is crucial to create an atmosphere of peace, serenity, healing, and change. As a yoga studio owner, it’s important to avoid high-traffic areas if your building doesn’t have correct soundproofing and consider natural lighting for morning and sunset yoga classes. Additionally, your studio should have doors to prevent distractions and a waiting area that can sit roughly 5 people. While these things will cost money, the initial cost for your yoga studio business will obviously be the studio space.
Because there are so many options for where you choose to conduct your sessions, costs can vary from renting monthly to owning a large-scale studio space. If you decide to purchase the space you’ll teach, there are several different ways to go about financing your yoga studio.
As a new yoga studio owner, it’s important to keep in mind that the cost of setting up your studio can vary greatly depending on your area, the location/size of the studio, gym marketing with estimates ranging from $15,000 to $100,000. To make sure you get the best deal, research what local fitness businesses in your area are paying to rent or own their space, and compare rates extensively. By doing so, you can save extra cash to spend on your new yoga studio’s amenities and marketing, which can help drive new business. Additionally, investing in qualified yoga teachers can also help attract more clients and grow your business over time.
How can OneFitStop help your boutique fitness studio? Request a Demo to learn more.
Sizing your yoga studio
Sizing for your studio depends on the number of clients you anticipate hosting per session. An average yoga session may have between 10-30 clients, which is the numerics we’ll be going off of. In order to fit this many yogis, your studio should have enough room to move comfortably. 25 x 30 ft. holds roughly 30 clients maximum, which is a great size even if you don’t usually bring out upwards of 30 clients. 20 x 20 ft. holds around 20 per class, which is a smart number to start with as well.
Give yourself space to grow and host large events – it’s better than spending big anyway on a tiny studio. Because you’ll be paying off the space for a while, increase your chances of bringing in more traffic and go slightly larger than what you’ll anticipate needing. No one wants a cramped yoga class.
Finding the perfect staff for your yoga studio
The staff you hire should perfectly reflect your own goals and thoughts/beliefs about yoga. Your staff will also be doing a ton of interacting with clients. Don’t write off yoga staff members as less important. They’ll be the ones handling the phones, bookings, assisting in classes, helping to clean and organize your space and bring new ideas to the table. You’ll want someone that has these qualities in order to get the most out of the experience.
When you’re conducting interviews, it’s best to ask for proper certifications and proof of practice. Additionally, you should ask for new instructors to help lead a class one day to see how clients react. Asking the right interview questions will be crucial in seeing why the person really wants to work for you.
These three elements of opening a yoga studio are crucial to running a business. We know yoga is your hobby, but are you properly equipped to make money off of it?
How can OneFitStop help your boutique fitness studio? Request a Demo to learn more.