How to Write a Yoga Studio Business Plan (Step-by-Step Guide + Free Template)
Opening a yoga studio can bring nice money in a longer perspective, but requires a well-thought-out business plan. We mean a document that will help you understand what steps you need to achieve success in opening the facility and your new yoga studio management.
This article will discuss how we design a plan for a yoga business from the scratch. It’s a solid foundation for writing a business plan. Doesn’t matter if you are creating a new yoga studio or improving an existing one.
6. Team
Business is people. Describe what your team will look like, dividing it into two groups:
Employees
Which positions are necessary for the daily functioning of the premises? Is it the receptionist, a yoga teacher, an additional teacher, social media platforms specialist, etc.? Who will suffice as emergency help?
Think about which people you already know with the necessary competencies. Which ones will you have to look for or train as your employees from the beginning? The cost of necessary training should also be included in the yoga studio business plan.
Describe the team you need to build:
7. Marketing plan
Ideally, your marketing strategy should include the items we listed below. In our guide about yoga studio marketing strategies we described how to do effective marketing.
- Brand building (logo, colors, yoga studio name, yoga studio slogans)
- Building your own website or app (Here you can check how to create a fitness app)
- Selling training sessions or booking online from your own website (as the main way of selling online)
- Launching a loyalty program
- An action list on how you will attract offline customers
- An action list on how you will attract online customers
- Will you run social media?
- Will you be implementing yoga studio SEO (Search Engine Optimization)?
- Will you add a business listing on Google Maps?
- Will you run email and SMS campaigns, and if so, how often? How will you build your subscriber base?
- Will you be running a yoga studio newsletter?
- Will you be doing paid Google Ads and Facebook Ads?
- Will you be offering promotions? If so, what types?
Yoga Studio Marketing Tools
Create image of your yoga school with ease
gym CRM system, no expertise required. Sign up for free!
8. A vision of further development
Determining the direction of development is very important at the beginning of your business. When setting yoga studio goals you want to achieve in a certain time, you should start with the wider ones, reaching those at the everyday level. It is also worth considering how you want to achieve these goals.
Sample yoga studio business plan
We created a sample yoga studio business plan to help you write your plan. Click below to download an example of a business plan for a yoga studio.
Online Booking System
Let the customers book yoga classes online
class booking software for your yoga studio’s website in minutes. Boost revenue while saving time.
Key Takeaways
- The business plan describes what your yoga studio will look like.
- Create a business plan even if you already run a yoga studio.
- Do not outsource writing a business plan to external companies. It is better to ask an experienced yoga teacher or an external company as a consultant for your ideas.
- Go back to the business plan once a month if you are starting and once a year if you have been operating for several years.
- A business plan is not an artificial document you write once and forget. It is a living document that teaches you how to run a business.
Frequently Asked Questions (FAQ)
How to write small yoga studio business plans?
Regardless of the size of the yoga studio, the steps of business planning remain the same. Writing a document for a small yoga studio consists of:
Does every yoga studio need a business plan?
In our opinion, yes. If you are serious about putting your place in the whole fitness industry, you must implement a repetitive method of working “on the company”. A BP that is updated every month and year is a way to run a business.
How to open a yoga studio without money?
Opening a yoga studio with no money can be challenging, but it’s not impossible. Here are some ways to open a studio without enough funds:
- Start your online business to get first customers.
- Consider working with other companies.
- Start a smaller business by offering training sessions on demand and develop your brand.
How to promote yoga studios?
Promoting a yoga studio is key to attracting new guests, increasing sales and retaining regular customers.
A few steps to help you promote your yoga studio:
- Create a professional website with a fitness scheduling software.
- Take care of social media by posting regularly and encouraging interaction.
- Add your yoga studio to popular sites.
- Organize contests and promotions.
- Collaborate with influencers.
- Organize events such as health promoting, competitions or concerts.
- Use paid ads such as Google Ads or Facebook Ads.
- Collect yoga studio feedback from satisfied customers.
How much profit does the yoga studio make?
A yoga studio’s profit depends on many factors, such as location, offer, prices, service quality, and business size. The average yoga studio profit margin is between 15 and 20% per year, but it can vary significantly depending on the factors mentioned above. Online only yoga studios have higher profit margins of up to 80%.
What makes a yoga studio business plan important?
A yoga studio business plan is important for several reasons:
- It helps clarify the vision and goals of the yoga studio.
- It provides a roadmap for the business.
- It includes financial projections, budgeting, and funding strategies for securing investors or loans.
- It identifies potential risks and challenges, allowing the business to address them proactively.
- It serves as a reference point for decision-making, helping the management team focus on the business’s objectives.
- It can be used to communicate the business idea effectively to stakeholders, including investors, partners, and employees.
