Yoga teachers and business seem like an odd mix, but they can be a successful combination if done correctly. If you want to make a living out of your yoga practice, there are a few yoga business mistakes to steer clear from. The challenges of running a yoga studio can be quite overwhelming, especially for first-time solo-preneurs.
Therefore, here are the top 7 common yoga business mistakes that owners make, and how you can avoid them.
7 Common Yoga Business Mistakes to Avoid
Spending too much money on the wrong location.
The location of your yoga business is a critical factor to your success. No matter how good your yoga teachers are, if it takes your students quite a long time to get to your studio, they might give up eventually.
To avoid this, be sure to select a convenient location. You don’t have to get the most expensive space, nor do you have to frustrate yourself into having the perfect studio. Give yourself room to grow so that you can offer new things to your clients.
Also, don’t go overboard when spending on equipment and design. It is best to keep a safe and stable ground once you start to prevent you from getting broke.
Not investing in a good logo.
The logo is another important factor that you must not take for granted. Make an effort to have a good logo by having one designed by an expert. Your yoga business logo will be displayed outside your studio and in your marketing materials — from newspaper ads and leaflets to your website. Be sure to have a logo design that is simple, easy to remember, and conveys your message to your target audience.
Not knowing what type of clients you have.
One of the most common yoga business mistakes is failing to know your students/clients. It is very important for you to know who you will be serving so that you can create a studio space and classes based on their preferences.
You can develop your studio by getting an affordable space and improving it depending on what types of clients often show up. Will you offer big classes at more affordable rates or smaller classes at a more expensive price? The way you design your studio and the services you provide will attract different people. For example, mothers who do yoga might prefer a more private class compared to teenage students.
You can take a break from teaching.
You might think that since you own the studio, your yoga teachers will do all the teaching while you relax. Unfortunately, this is not the case. Your studio also reflects your practice and who you are as a teacher, so don’t let your hired instructors do all the teaching. Improve your practice so you can lead your co-teachers and offer better services to your clients.
One of the reasons why people keep coming back to a yoga studio is because they are inspired to become like the instructors. Be sure to get good yoga teachers, and be a good teacher yourself.
Getting your best friend as your partner.
Another one of the most common yoga business mistakes to avoid is having your best friend as your business partner. It could lead to problems in terms of who controls what, especially if both of you are practicing yoga. It might work if only one of you knows how to teach the practice and the other manages the business side, but it could still pose a risk when one asserts more control over their specific field of expertise. To keep your business and your friendship safe, it is best not to partner with your best friend.
More classes lead to more profit.
Even if businesses are supposed to be profit-oriented, don’t work yourself up with the money-making aspect. It can be pretty exciting at first, to earn while teaching your practice. But, but if you offer more classes than you and your teachers can handle, it might compromise your services.
Regular yoga classes don’t really earn you much, but you can add other services like workshops, events, and training programs.
Ignoring the marketing aspect.
A beautiful studio with a good logo may attract a few passers-by, but it might not be enough to sustain your business. If you want to fill your classes, you would need to market your studio through the internet. Yoga has become quite popular lately, which means that a lot of yoga studios are opening – giving you more competition. You must show people that there is something about your studio that makes it different from the rest. Promote the different types of classes you offer, your workshops, and even the products that you sell such as yoga mats, towels, and clothing.
Apart from being an ancient practice, yoga has also entered the world of business. People who search for stress relief usually turn to yoga. Because of this, a lot of small and big yoga studios are seeing the light of day. If you are a yoga teacher and want to create your own studio, keep all common yoga business mistakes listed above in mind. And yes, try to learn from them and do your studio justice.
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