You probably started your yoga practice about five years ago, and now you want more. It is not uncommon that yogis go through a phase where they desire to share their experiences. Sharing of yoga is a big part of the community, and wanting to be involved in that is very natural. It certainly does work out for a few people who venture out with an independent studio. Here are some things to think about before you take the jump:
This is a Business
It starts with love and passion for yoga, and it is somewhat unfortunate that it can’t stay that way if you run a studio. You might also need to get a loan, which means you are going to need a solid business plan to get approved. That business plan is going to be a good idea, even if you are not looking at getting a business loan. It is a roadmap for what you are looking to accomplish in the short, medium, and long-term, and is a great tool in gauging your success.
Building Your Business Takes Time
It is expected that most businesses won’t start making profits for the first two years, and you need to be prepared for that. However, during those first years, you are going to be incredibly busy. Trying to build up a solid client base takes effort, time, and money. You are going to have to figure out how to market your studio, and that can get exhausting and expensive. Introducing your brand to large numbers of people will be your entire life when you first start out. Plan on having to run classes with a low number of students until your client base grows. It may seem like a waste of time, but until you can get more people involved you still need to be providing your services.
Your Practice May Take a Back Burner
Running a studio is a lot of work. There are classes to teach, and teaching yoga is a lot different than practicing it. You need to be paying great attention to what your students are doing, and that means you are not going to be able to focus on your practice during class. Add on to your teaching schedule all the administrative tasks that come with owning a business, and all of a sudden it can seem like there is no time for your own practice.
Opening a yoga studio is hard work, but it is a completely achievable goal. Take it from people who successfully run their own business, yoga studio or any other type. There are some things that are common across all industries. A solid and detailed plan to keep you on track and measure your success is something that you are going to need. Perseverance to get through the first year or two when you are just growing your business is a must as well. Finally, make sure you still keep up with your own yoga practice; you are going to need mindfulness and patience more than ever.