Yoga Studio Business Newsletter & Blog

Hi Al,

My name is Carla, I’m a yoga teacher in Prince George BC. I just
recently purchased your homestudy Yoga Studio Success course and am enjoying it very much.
I have a question that I was hoping would be answered during class 2,
but no one seemed to ask! When you have multiple renters come to the
studio (we do a bit of that already), is the normal protocol to give
everyone a key, which essentially means access anytime – or is
offering your space for rentals only really feasible if you have
someone on staff throughout the day to let people in. In the past we
have been very trusting (and continue to be) with giving people keys,
but if we plan to increase the number of renters, I am hesitant about
having all sorts of keys out there. I know our landlord would also not
be thrilled with this.

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Hi Carla,

Good question.  Your goal is to let renters enter and exit on their own.  But…you don’t want them to get into your private space.  Many studios put a lock on the door of any space renters shouldn’t enter.

However, recognize that if you screen someone decently, it’s pretty rare to have problems.  I mean sure, they can steal straps and blocks and stuff like that, but if they are renting with a legitimate purpose, this kind of thing is unlikely.  Also, remember, they have left you a deposit, so if anything is missing, they know they are going to pay for it.  Basically, the rule is, for things like private files, money, and such, make sure they are locked up.  Computers should either be locked up or password-protected (and don’t leave critical data on them if they are in a public area).  Big stuff like furniture and props are generally not a concern.

Remember, your renter is responsible for leaving the space as they find it.  If you’re not confident about leaving them there alone, you can always have someone hang out during the first couple of times to make sure they’re responsible.

Overall, it works smoothly for most studios who rent space – it’s relatively rare to have theft or damage problems.

Al

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If you’ve been in business for a while, you’ve noticed that people make the decision to come to your studio in different ways than they used to. In the United States during 2009 it is estimated that approximately 80% of all buying decisions began online (even if they were completed over the phone or in person). If you’re not making good use of the internet to get new students, you may be missing out on a huge opportunity.

And, I don’t just mean that you should have a website. That’s a given.

Today I’m going to talk about email marketing. I’ll show you how you can easily and cheaply use email to get more students into your studio without irritating people AND without a whole lot of extra work once you have it set up. Check out the video below for details.

Key points:
Capture emails from EVERYONE
Put them into an email management system like icontact.com
Set up an autoresponder to send regular informative emails to new prospects every 1-2 weeks.
Every 3rd email, provide some incentive for them to try your studio
Don’t be afraid of emailing too often. Once a week is better than once a month.
Once you’ve got it set up, it will take next to no time to manage and will send students your way.

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Hi,
I was wondering if you could give me some feedback in regards to my mission statement.
A place of community, peace, and practice.
A place to continually grow and expand, internally and externally.
“an ongoing growth”
I look forward to hearing from you!
Thank you,
Stephanie

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Hi Stephanie,
Great to hear you’re creating a mission statement. There are two type of mission statements we commonly use in business – an internal one and an external one.

External mission statements are for your students and clients. Something like “Our mission is to provide you with a place of peace and renewal where you can connect with who you truly are.”

Internal missions are more like “We strive to help people find themselves, have fun and make money.”

A mission has to be simple, clear and emotionally motivating. Totally avoid trying to capture all the nuances of what you want to do in your mission. Better to simplistically motivate than to all-inclusively bore.

For example, Disney’s external mission is “To make people happy.”
Mary Kay’s is “To provide unlimited opportunity for women.”

Finally, remember that you can (and will) change it as time goes by.

Al

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Hello Al,
I am in the middle of building my studio business and am knee deep in my business plan. I originally tried to launch a jewelry and apparel line but realized the margins and finances did not make sense unless I outsources everything to china or India. I am going to continue with this venture and sell the items in the store front of the studio, but it will not be my main focus for business. My background is in marketing, branding, and media sales and I have recently completed a 200 hour teacher training. While I love yoga and want to continue to practice, being a teacher is not my main goal for opening the studio.

I have purchased your online class MP3 package and am interested to learn how your class compliments the things I have not learned yet. My biggest concern is projecting the amount of revenue the studio can bring in and how fast it can do that. I will need investors or an investor to finance the adventure so I need to make sure my pro-forma is as close to real as possible. I have found an incredible space, but it is pricey and this is why projecting future earnings is crucial . My idea is solid, and I have narrowed it down a bit so I can tackle the first year and then add on as I continue year after year…however, I struggle with being overzealous and would like to approach this with guts and intellect. I have tried to be coached by my yoga teacher, but I am not sure our personalities are compatible for this venture. She is very knowledgeable in starting a studio but I am fairly sure I have more business experience than she does.

Your class seems to be a good fit and your knowledge is right on course with what have been doing and teaching myself. Do you offer personal business coaching? What is your background? I know your classes will help me, but having someone like you on my advisory board may also make investors feel more confident since I am new to the yoga industry.
I look forward to hearing your feedback and hope to continue learning from you in the future.
Warmest Regards,
Colee

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Hi Colee,
Congrats on entering a studio venture. I’ll give you the summary of what I’ve found over the years of working with numerous studios:
1. Don’t sell merchandise, except what your teachers actually use in classes (unless you can afford a full-time retail manager). And definitely not to start with. However, every studio should sell the things teachers use in class: mats, music, props, etc. And sell them at high retail prices – don’t try to compete with online stores. People buy from your studio because it makes them feel good and they like you – not because of price.

2. If there is an existing studio you can buy, it will usually be way cheaper than starting from scratch. Plus, it gives you a great baseline to make financial projections from.

3. Your top 2 sources of students will be word of mouth and the internet. Number 3 will possibly be drive-by/walk-by if you have a good location. If you took the money you saved on rent for a prime location and invested it in internet marketing and a referral program, could you get more business than by just having a good location? Usually the answer is Yes.

4. If you question compatibility with your potential partner now, don’t be partners. 9 out of 10 partnerships fail. Most very painfully. If you can hire a someone with a skill for $30 per hour or less, and will not need it for more than the first couple of years, hire someone – don’t partner with them.

5. Don’t expect to make a consistent profit for the first two years. If you don’t have the capital, then wait until you do. There are certainly exceptions, but I can’t recommend that unless you’ve successfully launched multiple studios in the past. If you’ve ever seen a new business close down withing a few months of openneing, most of the time it’s because they didn’t have enough money to start with.

6. A yoga studio is a business that happens to provide yoga as it’s service. If you like business, it might be right for you. If you want to focus on your own yoga practice, then running a studio might not be the best choice. A business must do two things to be successful:
a. It must be true to it’s mission or purpose
b. It must make money (or it can’t do #1 for very long)

Good luck with everything!

Coach Al

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I’ve recently talked about why students really come to your studio (if you missed it, see this link . Today we’re going to dig a bit deeper. People who practice yoga come with very specific goals and needs.

If we understand what those are, we can serve them better and multiply the chances they’ll come to your studio many time.

If you know what your potential students lay awake at night thinking about, and you can show them how yoga will help them with that, you’ll have a new student.

Today’s video goes into detail about how you can use this to bring more students into your studio. By the way, I apologize for the wind noise – one of the hazards of taking videos out in nature (by the way, thanks for the great feedback on the videos).

For example, if you know a 40-year old woman with a bad back who finds it painful to sit for more than a couple of hours at a time, I might be worried that I’ll lose my job that requires most of the day at a desk. Talk to anyone who’s afraid of losing their job these days, and that is a motivated person. If you can show her that yoga may help her to sit for 5 or 6 hours at at time, and reduce or eliminate her pain while she’s sitting, do you think she’ll come to your studio?

You bet!

It’s totally win-win. She gets the help she needs and you make more money.

Have a great week.

BTW, this concept is the foundation of a lot of other marketing. If you find it useful, you may be interested in the Homestudy Yoga Studio Success program.
See (http://www.centeredbusiness.com/homestudy.htm)

Have a great week!

Namaste,
Al

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If you’re like many studio owners, you have a lot on your to-do list. In fact, you probably spend plenty of time being overwhelmed, and often focusing on whatever demands your attention in any given moment. But sometimes, we neglect spending time on what will really be of most value to our studio as a business.

In today’s video, I’m going to share a simple strategy with you to help you push aside all the stuff on your to-do list and focus on the things that will really bring you short-term results (probably in the form of money).

Thanks for watching.

By the way, please do share your thoughts and ideas about your topic for others to benefit from. Just post a comment below.

Oh, one more thing. I like picking different spots in nature to do these videos. Let me know if you like this idea or it’s just distracting.

Namaste,
Al

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Hi Al-

I’ve taken a course and purchased the successful studios book for you. Both were helpful as I decided whether and then how to open a studio. But the most pivotal experience I had was a 5 minute laser coaching session. I was trying to decide whether to open my own business, even though I really wanted to stay away from administrative and managerial work. You asked a few questions and basically said I’d be miserable doing it (which I would have been in that mindset!) You also recommend the E-Myth. Wow! Five minutes on the phone led to a change in my mindset. I read the book, got excited, and I just celebrated my 1 year anniversary of opening my boutique wellness studio where I do primarily yoga and personal training privates. It doesn’t feel like work at all. Thank you thank you! Namaste

I have researched a lot about appointment cancellation policies, but still haven’t arrived at something I’m comfortable with. Here’s my question:

Being in the field of wellness, I have a hard time charging clients for canceling if they are ill. For instance, I have had a diabetic client for 3 years. She has 3 privates a week with me, but misses about 1/3 of them because of blood sugar problems, which means it is always just an hour before she is scheduled. I know her overall health is improved by our work together. I fear she will stop sessions if she is paying for 1 a week that she doesn’t use. Even if someone is coming down with a cold or the flu, I don’t want them coming in and spreading germs and taking longer to get well because they don’t want to get charged for the cancellation. So, do you have suggestions for a cancellation policy that respects what is right for the client’s health, maintains the integrity of my message of wellness, but also works for the business?

Lorna

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Today’s tip is about the real reason students come to your studio. If you think it’s mainly because they want to practice yoga, you may be missing out on a lot of potential business. AND may be losing some students that you already have.
Check out today’s video below:

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Hello Al, I’m so happy I came across your web site, there is so much information I found useful and interesting. I am currently in the process of constructing and opening a new yoga studio in the Los Angeles area. I have practiced yoga in the past for about a year and absolutely loved it. Now I have a wonderful opportunity to open my own studio. I would love to hear your thought and any feedback would be wonderful. The area where the studio will be is wonderful in that there are pretty much no other yoga studios around me with the exception of a couple of gyms that offer classes. There is a huge residential area behind the studio, and I think it will be a great idea to market to them. Because I am not a yoga instructor I’ve been spending a lot of time looking at resources online on how a yoga studio should operate, what equipment is needed, legal things etc. My plan is to hire a head yoga instructor who will be in charge of other instructors and be responsible for substitutions and keeping order. Right now I’m trying to write a job ad for the position and start the interviewing process. Hopefully if construction stays on time, I’ll be able to open in about a month. What are your thoughts about this project and what resources would you recommend helpful? Thank you in advance. Best Regards, Svetlana

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Do you have some information on bringing guest teachers into your yoga studio? I’m bringing in a Tai Chi master teacher with many years exp. Well known teacher, etc. I still need to make some money. how do I manage this ?

Thanks
Michele

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