There’s a huge yoga market in India which is estimated to over Rs 500 billion. Youngsters are taking interest to join yoga classes across the country.
Hence, there’s a great opportunity to earn handsome money by opening open studio. If you don’t know how to open one, here’s step-by-step guide to start your own ‘Yoga Studio’.
It’s the key for a successful business. You have to identify your target market, conduct some market research and develop a business plan before you start your own yoga studio.
Before you earn, you have to invest. That’s the part and parcel rule of any business. For that purpose, you need to determine your budget, secure enough funding so you don’t have cash burn issue, and keep tight line on finances.
Once you have done your market research and secure good funding, you have to search for a suitable space which is in align with your budget, have easy accessibility, and review legal requirements like zoning laws, permits, licenses, etc.
It’s time to find proper equipment and props such as yoga mats, bolsters, blocks, straps, blankets, sound systems, and any other necessary equipment based on your planned classes and services.
Once everything is done, you have to register your business. For that you have to choose a legal structure (sole proprietorship, partnership, LLC, etc.) and complete the necessary registration and licensing requirements and register your business and hire professionals.
You can’t run studio alone. You need to hire qualified instructors, then set instructor compensation, and establish class schedules.
No matter how good you are, your customers need to first know about you and your studio. Marketing and promotion is the key to develop a brand identity, build an online presence, and build a customer base. You can offer introductory promotions for that.
It’s time to pull the curtains and unveil your studio to the world. You can organize a launch event to attract clients and influencers and generate a buzz.