There are 5 yoga studios I can walk to from my home. In the last few years there has been an explosion of yoga studios due to yoga’s high growth in popularity. I also visit yoga studios on all my travels and am always looking to what makes them a success. There are many different models for yoga studios from one owner show, partnerships, non-profits, franchises, multi-purpose destinations with juice bars and shopping, holistic spas and wellness services.
The most successful studios I have seen combine creating through all they do a truly exceptional yoga experience with the know-how of running a successful business.
The following are common business practices of successful studios:
- Excellent classes with good teachers that creates a following of regular practitioners
- A warm, friendly studio atmosphere that encourages community
- Smart Pricing structure that doesn’t undervalue your services (introductory package, packages, rewards for memberships, special offers with a 30 day expiration, automatic payments)
- Diversification of classes by offering other styles such as the occasional yin, restorative, nidra, specialized class for athletes and events such as guest teachers, workshops, meditation, kirtans, and teacher training programs
- Beginner series that help nervous new comers become comfortable with the space
- Selling of retail products such as branded yoga apparel, jewelry, water bottles, hats, malas, and books to bring in additional revenue
- A convenient location that has good parking (for suburbs) and a nice space that is open, quiet, comfortable and has clean bathrooms
- A good website that comes up on search and is easy to use with an online schedule that is up to date and a webpage and handout for beginners with guidance, rules and support and which classes to start with.
- Smart marketing that is cost effective, reaches new audiences and encourages bringing in friends.
- Marketing automation that is informative for current members and nurtures the list of drop-in visitors to try coming out again.
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