Interested in how to start a yoga business? Perhaps you’re an experienced yogi that wants to start a studio or a yoga teacher with an incredible product idea. Whatever your startup dream, we’ve got you covered.
In this guide – learn how to start a yoga business in 5 simple steps, from developing the plan and securing funding to marketing and launching.
We’re a specialist fitness marketing agency with 15+ years of industry experience, so we know first-hand what works (and what doesn’t!). We’ve helped yoga studios, teachers, and online content creators to launch and grow their businesses, so our strategies are tried and tested.
How To Start a Yoga Business
These are the five steps to starting a yoga business which are proven to work for studios, freelancers, and online businesses too…
- Come up with an idea
- Develop a business plan
- Source funds
- Secure a location & equipment
- Launch with a bang
Let’s explore each of these steps and what they involve…
1 – Come Up With Yoga Business Ideas
Step one is to come up with your business concept – what is your idea? What will you offer to customers? Why will it be different from or better than the competition?
Some people will have a clear business idea from the outset but others may not be there yet. You might know that you want to do something yoga-related but be unsure of exactly what. Or unclear of the best business model to turn your passion into a profitable venture.
Do some research into the yoga industry, the top wellness trends, and gaps in the market. This can help you identify potential business opportunities or where there will be strong demand for something.
Here’s a list of popular yoga business ideas to get you started…
- Classic yoga studio
- Boutique fitness club
- Yoga franchise
- Pilates or meditation studio
- Yoga clothing brand
- Online yoga business
- Yoga equipment or accessories distributor
- Mobile yoga classes
- Workplace yoga instruction
- Yoga influencer
- Home yoga business
- Yoga affiliate marketing website
- Yoga blog monetised through ads or online courses
At this stage, it’s also important to put some real thought into whether setting up a yoga business is the right way forward. A passion project might sound appealing but it can also suck the joy from your favourite hobby.
Owning a yoga studio and starting a business can be exciting, but it can also be tough. Working in the yoga industry may mean that it becomes a chore instead of an escape. So think carefully and weigh up the pros and cons so that you make an informed decision.
2 – Develop a Yoga Business Plan
The next step is to develop your yoga business plan. This enables you to map out your idea and test its financial and practical viability.
Creating a professional plan is crucial to the success of your yoga business. Research shows that founders with business plans are almost twice as likely to secure funding and make it work.
“Business plans double the chance of success”.
A good yoga studio business plan should cover these elements…
- Executive summary
- Industry and local market analysis
- Company overview
- Products and services
- Sales and marketing strategy
- Financial information
- Implementation plan
By working through these points, you’ll know if there’s sufficient demand for your yoga business idea. It also enables you to define a clear target market and quantify the precise start-up costs involved. At this point, you should also come up with a unique name for your yoga business.
Learn more about writing a fitness business plan here (includes examples). Or get the start-up planning cheat sheet as part of our Fitness Business Start-Up Kit…
Everything you need to turn your fitness business idea into a reality!
3 – Source Funds For Your Yoga Business
A solid business plan will allow you to source funding for your yoga startup. Depending on your model, this may require anything from $50 to over $1 million.
Based on Entrepreneur.com data, here are some yoga studio startup costs for different business types…
- Cost to start a yoga class business – $2000-$7000
- Boutique yoga studio start-up costs – $575,000-$1.5m
- Cost to start a fitness studio (e.g. Pure Barre) – $198,000-$446,000
- Pilates studio start-up costs (e.g. Club Pilates) – $168,000-$280,000
- Online yoga business start-up costs – $50-$2000
As you can see, the funds needed to start a yoga business can vary a lot. Location, equipment, and overall quality will all affect the costs involved.
If you’re wondering how to start a yoga business with no money, then the key is to start small. Running independent classes, selling online yoga programs, becoming a fitness influencer are all low-cost options. There’s almost no investment needed in equipment, rent, or staffing since you can take care of everything yourself.
For those of you looking to secure funding for your yoga business, the most popular options are…
- Traditional bank loans
- Personal savings
- Investors
- Online lenders
Once you have the money to start your business, you can move on to making it a reality…
Learn which fitness marketing strategies produce the best results (so you can focus on what actually works).
4 – Secure a Location & Equipment
This applies to both physical and online fitness businesses. If you’re starting a yoga studio, then you’ll need to find the best possible location. Likewise, if you’re launching an online yoga business, then you’ll need to build a blog or website.
For physical studio locations, look for areas where your target market already spends time. Passing traffic is important but their demographics matter more. There’s no point being somewhere busy if none of those people are interested in yoga.
You might also like… Our gym start-up guide which includes a comprehensive section on choosing the right location for a fitness business.
Once your yoga studio location is secured, you can start to kit it out. This needs to happen quickly so that you can open ASAP and start generating income to pay those overheads. Think about…
- Scale floor plan
- Electrics and plumbing
- Interior design and decoration
- Changing areas, toilets, and shower facilities
- Yoga equipment and accessories
If you’re wondering how to start a yoga business from home, then some of these factors will still apply. You’ll need a space with the right atmosphere, decor, and equipment like mats, blocks, and straps.
For those wanting to learn how to start a yoga business online, it’s slightly different. You can begin with a minimum viable product and then scale up once the money is coming in. You don’t need to invest as heavily upfront as a web address and hosting cost less than $100.
Learn more… How to create a yoga website.
5 – Launch Your Yoga Business
Starting your own yoga business is about more than just teaching. It involves sales, marketing, and customer service. Successful yoga studios are never short of clients because they have strong sales funnels and impressive retention rates.
Marketing is vitally important during your pre-sales period. It’s essential to sell as many memberships as possible during this time to maximise cash flow from the start.
- Offer a limited time discount to encourage people to sign up early.
- Run online ads to generate a steady flow of leads.
- Organise a launch event to celebrate the opening and invite local media.
Opening a yoga studio (or other type of yoga business) with a bang will get it off to the best possible start. Check out our article on yoga marketing ideas and strategies for more inspiration.
Open Your Own Yoga Business
Now you know exactly how to build a yoga business. Starting your own yoga studio or online business can be a fun and rewarding experience. As a growing trend in the fitness industry, there’s never been a better time to get into the sector.
By following these steps, you’ll maximise your chances of success from the start. If you’d like a little help along the way, then check out our Fitness Business Start-Up Kit. It includes a business planning cheat sheet, 50+ creative brand name ideas, and loads of other resources to turn your business idea into a reality!
Everything you need to turn your fitness business idea into a reality!
