Opening A Yoga Center In 7 Easy Steps

When you became a yoga instructor, you began to imagine what it might be like to have your own studio! Whether you envision a small studio with only you as a teacher or a large and iconic yoga space, knowing where to begin can be overwhelming. 

But it doesn’t have to be!

Opening a yoga center can be simplified to 7 easy steps: creating a business plan, finding a studio space, sorting out legalities, getting set up financially, gathering permits and licenses, creating promotions and marketing plans, and finally, opening your studio doors! 

1. Create A Business Plan

Properly planning is the difference between opening a yoga business and opening a successful yoga business. With so many studios open in any given area, it is essential to stand out, draw in clients, and make a profit. 

How Much It Costs to Set Up a Yoga Studio:

To start making a business blueprint, you must focus on two aspects. The first is your product: yoga classes. The second part is how you will create financial gain from the first. 

Yoga

Begin by envisioning your ideal day at your future yoga studio. Who do you picture as your students? What type of classes are you teaching? These sorts of questions will help you narrow down your target market. 

When selling a product, in your case, yoga classes, you need to understand who you are selling to and make the product seem desirable to them. Creating and sticking to a brand will help the suitable client base find you while deterring someone looking for a different studio style. 

Some questions to help you narrow down your target market and brand include:

  • What goals do I hope to accomplish as a yoga studio owner?
  • What do my ideal students and classes look like?
  • How many types of yoga classes will my studio offer?
  • What experience levels do I want to include in my classes?
  • What kind of environment do I hope to create for my students?

Finances

While envisioning your future studio can be fun, daydreaming alone will not set you up for success. While most yoga instructors don’t get into the teaching world for money, finances are a significant consideration in the business realm. 

Begin making lists of start-up and monthly costs. Even small things like extra yoga mats or props will add to the financial strain of a new studio, so plan accordingly. 

Once you have your expenses sorted, you will need to figure out how much income you need to offset the output and create a profit. Figure out how much to charge each student, how many classes a day, and how many days a week you need to work. 

The finance sheets at this stage in planning will be more of a jumping-off point than finite, so keep in mind things will vary as you get further into the process. 

How Much It Costs to Set Up a Yoga Studio:

2. Find a Studio

Now that you have a rough draft of your future yoga studio business plan, you can begin looking for a place to house it! Finding a studio space can be overwhelming, especially if you have to build out the space, but it doesn’t have to be.

When it comes to looking at potential places, there are a few things to keep in mind:

  • Finding a suitable location can sometimes be more beneficial than the space itself. For example, a studio in an area with heavy foot or car traffic will increase the number of potential students who see your business. 
  • Size does matter, but not as much as you would think. While having a large lobby or waiting area can be nice, it is not always necessary. The studio room size is more critical, especially regarding capacity limits and safety zoning. 
How Much It Costs to Set Up a Yoga Studio:

  • Sometimes, the perfect place doesn’t exist. Instead, you will have to rent a space and pay to have it built out. This can get expensive, especially if it is a large project. Be sure to hire a contractor you trust and never take on major construction projects yourself for safety and sometimes legal reasons. 
  • Working with a real estate agent can help take some of the stress out of searching, and they will know contractors and be able to ask any questions you may have during walkthroughs.
  • And finally, always read the rental agreements. Many times, you sign for more than one-year terms. Make sure you read the fine print to understand what you are signing on for. 

3. Sort Out The Legalities 

Speaking of reading the fine print, many small business owners choose to hire a lawyer to help sort out legal questions and paperwork and help them keep everything in tip-top legal shape. While it is not always necessary, knowing you have legal help in your corner is helpful. 

Other legalities and formalities on the road to opening your studio include forming a legal entity, registering for taxes, and opening business bank accounts.

Forming a Legal Entity

When you open your own business, you have a few options. First, you want to create an entity separate from you to help protect you personally from any legal issues that could arise later. 

Form an LLC

The most common type of legal entity that a yoga studio would form is a limited liability company or LLC. Forming an LLC is relatively simple and can be done without help from a lawyer. However, if you do want to hire legal help, you can find someone to help you create an LLC here.

Register for Taxes

Once your LLC is formed, you must register it for taxes. Similar to how individuals have a social security number, businesses have an employer identification number or EIN

This number creates an easy way for the IRS to keep track of your tax information. For more information on EIN and to apply for one, you can click here to go to the IRS website. 

How To Make A Living Teaching Yoga

4. Finances

Since your yoga studio is a separate entity from you, it needs its own finances. If you mix your personal and business finances, your personal assets will not be protected if the event of your business being sued ever arises. 

Bank Accounts

How Much It Costs to Set Up a Yoga Studio:

A business bank account is also required for applying for and receiving business loans. 

Like most steps on this list, opening a business bank account is quick and straightforward and can often be done online. 

Credit Cards

After your business accounts are up and running, you can apply for business credit cards to help build credit as a business. These make buying larger purchases for your business hassle-free, and many cards offer benefits like cashback and 0% interest. 

Accounting 

With so much money coming into and out of your business, it is essential to have pristine and up-to-date bookkeeping. Many small business owners will do their own bookkeeping with apps or computer programs, while others will opt to hire an accountant. 

Regardless of how you will manage your books, proper bookkeeping will help keep your finances in shape and help prevent any legal or tax mistakes. 

5. Gather Permits and Licenses

Before you can open the doors to your studio, you will need to check with your county and state about permits and licenses. Also, check the health department guidelines if you plan to sell food or drink at your yoga studio. 

CO

If you have a physical space for your studio, you will most likely need a Certificate of Occupancy. This document is generally the landlord’s responsibility if you are renting. However, you will need to ensure that one has been issued, is current, and is specified for the location used as a yoga studio. 

What Happens In A Private Yoga Class

Yoga Certified

It should go without saying that if you plan to teach yoga, you must be certified. This also goes for any other instructor you hire for your location. Before offering them, check if additional certifications are required for specific classes or styles. Most yoga instructor certificates require continued education and renewal every few years. It is also imperative that you and all instructors have yoga teacher insurance. 

First Aid

Your county or state may not require CPR, AED, and first aid certifications, but check with your specific location. Regardless, being trained in these areas will help create a safer environment for your students and fellow teachers. 

Insurance

In addition to your instructors having liability insurance, you will need business and property insurance. These packages will help protect yourself, your business, and your other employees. 

If renting your space, you must purchase renter’s insurance. This policy will cover the cost of repairs to the building in cases like fire, flood, or other natural disasters. 

How Much It Costs to Set Up a Yoga Studio:

6. Promotions and Marketing

Now that you have the business plan, the studio space, and all the financial and legal aspects figured out, it is time to find your students!

  • Create an efficient and easy-to-use website for students to learn more information and book and pay for classes from their screens. 
  • Put advertisements in local newspapers and magazines to help reach potential students.
  • Utilize social media to educate and inspire students from afar while reaching potential new students on their devices. 
  • Create merchandise with your business logo on it. Items like bags, hats, shirts, water bottles, and stickers worn and used by students help get your name out there! 
  • Run promotions, but not too many. While they can help get people in the door, discounting your product too often can make people not want to commit or pay full price. 

What It Takes To Open A Yoga Studio

7. Open Your Doors

Congratulations! You have successfully set up your new yoga studio! 

Now that you are legally up and running create a fun and versatile schedule that fits your student’s needs. Choosing an online booking system allows students to book a class any time, day or night, decreasing the need for reception staff. 

Make sure that the interior of your studio is welcoming, clean, and stocked with the proper gear to set your students up for success. 

Enjoy all your hard work coming to fruition as your dream yoga studio comes to life before your eyes! 

To learn more about starting your own Yoga Business check out my startup documents here.

Please note: This blog post is for educational purposes only and does not constitute legal advice. Please consult a legal expert to address your specific needs.