yoga studio business plan

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The Ultimate Guide to Creating Yoga Business Plans (With Template)

If you’re reading this, you’ve probably been teaching for a bit and started to think…this is tougher than I thought! I mean, how am I supposed to actually support myself doing this?? I feel like something’s missing…

Well, that something is most likely…

The business-side!

[CUE THE CRINGE]

Did you just make a face as though you just sucked on a lemon? 

Or maybe your belly did a backflip? 

You’re not alone! 

Business totally wasn’t my thing in the beginning either!

Between wanting to bury my head in the sand and not think about it, to not seeing the value in it…let’s just say it’s been a loooong journey to get to where I am today! 

And that’s why I’d LOVE for you to benefit from my struggles and make your journey to becoming a successful yoga business owner shorter than mine was!

I’m excited to tackle this important topic head-on because it daunts most if not ALL yoga teachers at some point in their journey. 

We’ll explore what to think about before starting a yoga business, what a yoga business plan is, why you need one, how to make one, types of yoga businesses, and some common FAQs.

The more you are cringing, the more I encourage you to dive right in! So EXHALE and let’s go!

What To Think About Before Starting A Yoga Business ?

First, let’s get on the same page in terms of what we mean by “yoga business”. Some examples of yoga businesses are:

• Yoga studio owner
• Co-op yoga space owner/partner
• Online yoga teacher
• Private yoga teacher
• Yoga retreat leader
• Workshop leader
• Yoga and wellness coach
• Contract yoga teacher ( corporate yoga , yoga at schools, events, health clubs, pop-ups, festivals, etc.)
• Specialty yoga teacher (kids, disabled populations, elderly, veterans, disenfranchised populations)
• Yoga teacher training leader
• Continuing yoga education provider
• Yoga podcasting
• Yoga writing
• New teacher mentoring
• Yoga school owner
• Selling yoga products

And really, whatever ideas you can dream up! 

If more than one of these sparks your interest, that’s great! I often recommend building a yoga business with multiple revenue streams.

Now, onto what you’ll want to consider before building your yoga business. Some questions to ask yourself are:

• What is your risk tolerance?  Do you have a day job that can support you as you transition into being a new business owner? If so, read why I suggest holding onto that gem! Are you the sole breadwinner with a newborn baby and a partner out of work? Or maybe you’re single with few financial responsibilities and a large amount in savings so you can handle more risk?
• Are you ready to say goodbye to some free time?  If you already have no wiggle room in your schedule for things like self-care, you might want to question the timing or scale of your vision.
• Are you ready to change your relationship with yoga?   Turning a passion or side-hustle into your bread-and-butter will change your relationship with it. Are you ready to leave the dewy-eyed honeymoon phase with yoga and enter into a committed marriage with it through sickness (hopefully less of this haha) and health?
• Are you down to level up your yoga practice?  Having a yoga business means your personal practice needs to be on point! Having a dedicated personal practice while staying up-to-date on the latest developments and trends in the yoga world will support you in your entrepreneurial journey as well as keep you on your A-game so you can better serve your clients.
• Are you ready to face your fears and work on your money mindset?  Being a successful business owner takes a bit more than the law of attraction and magical thinking. It requires getting down into the muck of your limiting beliefs in addition to learning the nitty-gritty of running a company.

What Is A Yoga Business Plan?

Before we dive into what a yoga business plan is specifically, let’s start with “Business 101” and talk about what a business plan is at all!

A business plan is defined as a document that describes a company’s core objectives, business activities, and how it plans to achieve its goals. 

The exact layout will depend on its intended use and audience (whether it’s just for you or to seek funding from potential investors for example), but basically, it’s a road map! 

In order to get to where we want to go, we have to know where we’re going and have at least a rough idea of how to get there, right?

That’s why behind most successful companies is a business plan—it’s KEY in turning dreams into reality.

While a yoga business plan is generally the same as any other business plan, there is one noteworthy difference…the typical yogi mindset! Often the main thing in the way of a successful yoga business is the yogi behind it! 

Yoga teachers are known to have this idea that yoga and business aren’t compatible and that yoga business is bad and un-yogic because it’s “selling a spiritual practice” blah, blah, and aaaall the baggage this mindset brings with it. So keep in mind two things:

• Be aware of what comes up for you as you write your business plan. What inner fears, objections, and past traumas get stirred up? These reactions could present future obstacles to your success so note them and use your own yogic tools to work through them or enlist help (see #2).
• Your business plan might need to include spending some resources on this mindset work in the form of hiring a business mentor or coach . I personally coach each student in my Yoga Business + Entrepreneurship Teacher Training on their business plan. Talking it through with your peers and a professional is invaluable! 

Why Do You Need A Yoga Business Plan?

At least part of you is currently thinking, that sounds nice and all, Brett, but I know that I PERSONALLY don’t need this for what I want to do.

Not so fast my friend! Because I recommend that EVERY yoga teacher who wants to earn a living in the yoga industry begin with some basic business planning. Here’s why:

It shifts your mindset 

As a yogi, you know it’s pretty literally all in your head because your mindset links your internal beliefs to your external actions. So if you want to believe and act as if you run a company, then a business plan will spark the perspective shift that will have a ripple effect on everything else!

It helps you know if you ACTUALLY want what you think you want  

Writing a business plan asks you to get really real with what you want. Crunch the numbers, do the market research, go through paperwork, etc. You might get part of the way through this due diligence and realize…this isn’t what I want! 

Maybe the time commitment, up-front investment, potential revenue, etc. aren’t actually what you thought. Well…great! What better time to discover that than BEFORE pouring tons of time, energy, and money into it. This teaches you more about what you really want so you can pivot to a more aligned direction that you can feel better about committing to.

It helps you focus and make decisions 

Having a clear roadmap makes decisions about time and money management, choosing aligned partnerships, marketing, and more, way easier. #worthit

It helps you attract money and partners

Having a business plan ready to go will help you greatly in your quest for funding or partners if that’s something your yoga company needs.

It gives you confidence

Having a clear vision in your mind (and on paper) and an idea of how to get there will help give you the clarity and courage you need to get you over those bumps along the entrepreneur road. 

It increases your likelihood of success

While doing your market research , SWOT analysis, and marketing plan might make you groan upfront, your future badass business self will absolutely thank you for it! These will help you avoid potential pitfalls and up your chances of creating a thriving business.

Expect your yoga business planning to:

• Scare you . You’re going to avoid it, but once you get started, it’ll be easier than you thought.
• Anchor you into reality . Ideas are great. Realities are better. A business plan will help you take the real-world steps towards building your own dream business while providing you a practical reference to guide you along the way.
• Motivate, inspire, and embolden you . Often, all it takes to ignite us into action is getting clear on the vision and the path. 

How To Create A Yoga Business Plan: Step-By-Step (With My Template Worksheet)

I’m stoked to show you that creating your own yoga business plan is much simpler and less scary than it seems! Let’s walk through it.

1. Executive Summary

Think of your company summary as the Cliffs Notes of your business. Make it shiny and polished so that others could take a quick peek and know what your business is all about. It’s helpful to start here because it gets your wheels turning on the rest of the plan elements. Once you complete the rest of the sections, you can revise the summary as needed. 

Some things to include are:

• Your business name
• Your mission (A few sentences on why your business exists, who it serves, and how it does that)
• Your vision (The ultimate dream of where you see your business going)
• Your “Unique Selling Proposition” or USP (What makes your business different from your competition?)
• Goals and plans (A brief sketch)
• Your team and organization (Could be business partners or a support team like social media marketers, coaches, accountants, even babysitters, and your home team!

2. Market & Customer Analysis

It’s great to tackle this section early on as it helps inform the other business plan categories. The market analysis piece includes an industry description (trends, growth rate, etc.), analysis of competitors, how you will stand out, and research on what your target market wants and needs. 

If this part is boggling you, a fun way to get to know your customers is to just have conversations with your people! What do they need and want in their lives? The customer analysis further includes the demographic of your target market, size of the audience, and their purchase potential. 

3. Products & Services

For many yoga instructors, this is the fun part because it’s all about what we share and how we serve people! Write a full description of what exactly you offer and the prices.

4. Funding & Financial Summary

For yoga people, this is usually one of the cringiest elements of the plan, and so I tell you this out of love: no one gets too far in business without at least a basic financial plan. 

The full version of this section includes startup costs, ongoing and long-term investments, and financial projections. 

But here’s the good news: You can make a quick and dirty business plan just by getting real about your cash flow! How? In my 300-hour yoga teacher training , I’ve got you covered. In the course, I walk you through cash flow and profit as well as how to avoid the mistake that causes many businesses to fail in the first year (hint: it has to do with working capital). 

5. SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities, and threats. Doing a SWOT analysis before building your business helps you foresee and avoid potential problems and brainstorm strategies for success. See the business plan template for the full deets!

6. Sales & Marketing Plan

While you don’t have to become a social media influencer to have a successful business, you do need a marketing and sales strategy to promote your business and attract potential customers! 

To most yogis, sales and marketing are the same, but they do have some differences. Your marketing strategy gets you in front of your customer and piques their interest while your sales strategy relates to the actual selling of your products or services. 

This section includes your marketing ideas, sales strategies, associated costs, and rollout timelines. 

Yoga Business Plan Template

Woot woot! As a little reward for getting through all of this business talk so far, I’ve made you a template so that you can get started right away!

It is PACKED with helpful exercises that will guide you into clarity so that you can create a business plan that WORKS.

Because launching a business is hard…

…but it doesn’t have to be. Especially when someone who has already done it SUCCESSFULLY gives you the exact steps to doing it.

This worksheet will help you address all the details of your yoga business, both big and small.

In fact, it is SO helpful that it’s actually a part of my 300-hour yoga teacher training curriculum .

And I’m sharing it with you here, for FREE.

Because I honestly believe that everyone deserves a chance at success 🙂

Save Hours with my Proven Formula. FREE Yoga Business Plan Download & Checklist 👇

Save Hours with my Proven Formula. FREE Yoga Business Plan Download

Different Types Of Yoga Businesses

Now that you’re (hopefully) feeling more excited about making your own yoga business plan, I’m going to hook you up even more and share some extra considerations to keep in mind while making a plan for your specific type of yoga biz.

Online Yoga Business  

For online yoga businesses, consider and include in your plan:

• A market analysis specific to online offerings . What will make you stand out online right now? Can you offer something different?
• Offering platform . How will you make your offerings? Will you invest in a course software platform or keep things simple to start? 
• Drop-in or membership basis . Are your offerings drop-in or on a monthly or annual membership basis? 

Yoga Studio Business 

Some things to think about and include in your yoga studio business plan:

• Location analysis . Is there a market in the area you’re looking at? Is there a lot of competition in the area? Does the location have good visibility or will it require more marketing? 
• Space size & lease cost . How many people do you want to accommodate? Can you realistically afford the rent based on the capacity, what you want to offer, and how much you want to charge?
• Retail inventory . Will you also sell yoga products in your studio? If so, which values will determine what you sell ?
• Yoga instructor recruiting & retention . How will you find and keep quality teachers?
• Community building & client retention . How will you cultivate a thriving community and keep your loyal students coming back for more?

Yoga Teacher Business 

This general category can include many offerings ( many examples of how to make money as a yoga teacher are listed here ). Some things to keep in mind include:

• Address each offering in your plan . If you have multiple offerings, include all of them in your plan as well as separate sections on market research, SWOT analysis, etc. as needed.
• Rank your offerings . Will you focus on all of your offerings equally or emphasize some over others? You might assign a percentage value to each of your offerings and focus on those in the sweet spot where your passion and revenue potential overlap and those that are natural marketing funnels for others. Prioritizing will help you focus your energy, money, marketing, etc. so you don’t spread yourself too thin. 

Co-Op Yoga Business 

Some things to take into account as you write your plan for a co-op yoga business structure include:

• Offering scope . How broad or narrow are the offerings? Will it be all one style like Hatha or power yoga ? Or is the aim to create a space with diverse offerings? Will you open it to other related healing modalities like massage or energy work?
• Business ownership . How will ownership and responsibility of the facility be shared? Whose name(s) will be on the lease?
• Financial division.  What is each party financially responsible for? How is revenue shared?
• Marketing responsibility . Will marketing be done jointly or individually? 
• Partnership scouting and terms . How many co-op partners do you need to be sustainable? Do you already have enough? If not, how will you find these people? How long are partners committed to the space for?

FAQs About Creating Yoga Business Plans

If you were one of the “cringers” as you started this article and you’ve made it this far with questions, it’s a sign your mind is opening to the idea of running your own yoga business and making a plan for it. Congratulations! This is the most crucial step (see, it’s so easy that it’s already happening!)

How Much Does It Cost To Start A Yoga Business?

Short answer: From a couple hundred to several thousand dollars.

Long answer: It depends on your business! Obviously, opening a brick-and-mortar yoga center has a significantly larger start-up cost than a pop-up studio. Or if you want to offer online yoga classes and have a large email list your start-up costs might be limited to some management software and an online platform. 

This is where your business plan will help you! As you explore your mission and vision and get real about the potential costs, you can pivot if the financial investment isn’t aligned right now and see if there’s a way to make your business happen in a more cost-effective way. 

How Much Money Can I Make As A Yoga Instructor?

This is a big topic, my friends! So big that I suggest checking out the entire post that I’ve written about how much yoga teachers make .

As with most things, it depends on you! If you’re mainly into teaching yoga classes and want to teach a few times a week, making $31 per class brings in $6,500 annually. This could range up to around $40K per year if you teach 20 classes a week at $40 per yoga class. But if you’re willing to expand your offerings and your business knowledge, you could earn $100K and up! 

The main barrier to a high income is usually YOU, your mindset, and your willingness to put in the work!

Is Yoga A Profitable Business?

It can be! There are MORE opportunities for yoga teachers now than ever before and lots of room for you to be creative in your yoga service! Just like with anything, you can do the bare minimum and get paid accordingly or if you’re passionate about teaching yoga AND living your best life, that’s totally possible too. 

In my advanced yoga training , I walk you through two key aspects to making what you want from your yoga business (hint: the math and your thoughts). We basically map out how to earn $100k per year as a yoga instructor by figuring out how much you need to earn per student. You could sell one high-priced item or lots of lower-priced items! It’s actually simple math. 

Then we go into exactly how to do that and what you could create in order to earn that amount per student/customer. It’s the way that I grew my own profitable business as a yoga instructor so I know that you can do it too!

Why Do Yoga Studios Fail?

According to this 2018 IHRSA article , 81% of fitness studios close within the first year 😱 . 

Maybe a yoga studio doesn’t seem like a fitness business, but for these stats yoga studios are lumped in with the health and fitness industry. If your heart is still longing to join the ranks of yoga studio owners and to provide yoga classes at your own facility, don’t throw out your dream just yet! Just do your due diligence on the yoga studio biz to inform your decision first.

Some common mistakes made by first-time yoga studio owners include:

• Choosing friends instead of business partners
• Not prioritizing quality yoga instructors and quality instruction
• Not having a business strategy or vision
• Not focusing on community building and client retention
• Poor money management
• Not doing market research
• Poor leadership and organizational skills
• Not actively attracting new students
• Not choosing the right location

How Much Space Do You Need For A Yoga Studio?

Of course, this depends on your vision, goals, and budget. Do you dream of a small basic studio with a tight-knit community or a big booming hub? (Hint: this should be in your business plan!) 

To give you an idea, if you’re crafty, a 250-square foot space could be enough for you, up to 10 students packed in, and some props. 

How Much Space Do You Need Per Person For Yoga?

The common estimate is about 21 square feet per yoga practitioner. This is the equivalent of an average 2′ x 6′ yoga mat plus about 6 inches on all sides. That’s less than a hand width between you and your neighbor which is pretttty cozy so tweak this number as needed.

Can I Be A Yoga Teacher If I’m Not Flexible?

Short answer: Heck yes and please do!

Long answer: In fact, I dare to say if you aren’t flexible but are passionate about sharing your love for yoga…the world NEEDS you! We need more yoga instructors to shatter the common misconception that yoga is only stretching for already bendy people and mostly women. So if you don’t exactly fit that description, please get out there and show potential future yogis that pretzel-ability is not a requisite for yoga.

Can You Teach Yoga With A 200 Hour Certification?

Short answer: Absolutely!

Long answer: It’s common to not feel ready to teach the first year after finishing your 200-hour yoga teacher training (read more about that and what to expect with a 200-hour certification ). 

However, you absolutely can start teaching and earning money with a 200-hour certification as you continue to learn and dial in your personal style. It’s easy to feel like there’s always more to learn because…well…there is! News flash: that feeling doesn’t go away no matter how much you study because yoga is a rich and deep life-long study and practice. But a 200-hour training is the starting point, so don’t wait…get started! 

Next Steps:

• Explore my Yoga Teacher Resource knowledge hub for more tips about how to grow your yoga business.
• Download my sequences for a jumpstart on your upcoming yoga classes!
• For more detailed tips, processes, and worksheets to supercharge your yoga business, download my yoga business launchpad course !

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Yoga Business Plan Essentials [With Studio Template & Samples]

Published by caroline @ wellness creative co on 12 february 2020 12 february 2020.

Preparing a yoga business plan might seem like a daunting process but it doesn’t have to be difficult. Whether you want to open your own studio or become a freelance teacher, a basic plan will maximise your chance of success. By covering the essentials outlined below, you can create an impressive business plan quickly and easily. 

In this article – we walk you through the 7 core sections of a professional yoga business plan, including examples, PDF templates, and a downloadable cheat sheet.

7 Elements of a Yoga Business Plan

Founding your very own yoga business can be an exciting yet overwhelming task. The best way to set yourself up for success is by having a solid plan from the start. This allows you to approach the venture in a strategic and step-by-step manner.

A professional yoga studio business plan will also help you to secure funding (if you need it). It’ll reassure lenders that your concept will be successful, making them more likely to lend you money. Having a well-prepared business plan is essential for accessing government grants for yoga studios or fitness equipment loans.

A good yoga business plan will include the following sections…

• Executive summary
• Market analysis
• Overview of the company
• Product and service summary
• Sales strategy
• Financial info
• Implementation plan

You can download our handy business planning cheat sheet as part of our template bundle … Now let’s explore what each of these should cover…

1. Executive Summary

Investors don’t want to wait until the end of a document to understand your business so get straight to the point. Why should they invest in your idea?

Include your purpose, key financial info, and unique selling points. While this section comes at the beginning of your plan, it’s usually easier to write at the end (once everything else is done).

2. Market Analysis

Are you tapping into a growth industry or is the market in decline? In this section, you’ll need to demonstrate the potential for your business and clearly identify the opportunity. 

Will there be a strong demand for your yoga classes, services, or products? Reference yoga industry statistics , trends, and competitor info to build up a clear picture.

3. Company Overview

This is where you summarise how the company will operate. Include your business objectives, studio location, form of ownership, legal status, structure of the team, and plan for operations. If you’re starting a freelance yoga business, then this section will be shorter than a studio’s.

4. Products & Services

What are you going to sell? Many people find this the most fun part since it’s where you turn all your yoga business ideas into reality.  

Make a list of the products or services that you’re planning to offer, including the names, descriptions, and pricing. For example, this might be studio memberships, one-to-one sessions, teacher workshops, or merchandise.

You might also like… 35 Creative Yoga Business Names for New Start-Ups .

5. Sales Strategy

How are you going to attract customers to your business? This should cover all of the sales and marketing aspects of your yoga business.

Outline your branding ideas and include a marketing plan that explains how you’ll secure paying clients. This should include all of the yoga marketing activities you’ll do to launch successfully and keep the money coming in once you’re open.

6. Financial Info

This section is the crux of a good yoga business plan – will you really make money? Plot out all of your figures on spreadsheets so that potential investors can see how you arrived at them. It’s also helpful to visualise some of the key info on charts and graphs.

Include a breakdown of all your yoga studio startup costs, plus cash-flow, profit & loss, and breakeven figures. Project your figures 1 year, 3 years, and 5 years ahead so it’s clear what the long term potential is. 

7. Implementation

This is where you explain how you’ll turn the plan into a reality. It should include a list of all the actions you’re going to take, along with deadlines ( Gannt charts are ideal here).

Why Business Planning Matters

If you’re still not convinced that you need a yoga business plan, then here’s the reality – it’s actually essential to your success. Without it, you won’t be able to secure funding or business loans so it’s worth taking the time to prepare one.

It’s not just about having the piece of paper to show people – it’s about the process of creating it. Planning forces you to conduct research and weigh up whether your idea is really viable. This can save you a lot of time, money, and heartache in the longterm, as well as setting you up for success in the future.

“Business plans double your chance of success.”

There’s compelling research showing that founders who create a business plan are almost twice as likely to grow their business or secure capital successfully. It’s fundamental to ensuring that your yoga business becomes profitable as quickly as possible.

Yoga Business Plan PDF Downloads

If you’d like a yoga business plan template to follow, then here are a few PDFs that can help. Some are more general fitness studio examples since many yoga studios also offer other types of classes. They will give you plenty of useful ideas for developing your very own plan.

• Ibis World produced this thorough 60-page sample, which is a great source of financial projections.
• The Yoga Lunch Box  offers a comprehensive yet easy-to-read yoga business template.
• Launceston City Council created this all-singing and dancing health club business plan.
• Fitness Texter has a nice little guide that includes helpful questions to ask yourself.
• Dragon Fitness Training provides an interesting plan for one-to-one instructing or training services.
• Catalyst Fitness created this business plan with detailed risk assessment.

Creating yoga business plan is totally worth the extra time and effort. It’ll be the blueprint for your business for the next 3-5 years, as well as helping to secure bank loans or investor funding. Putting some thought into exactly how you’ll promote your services and manage cash flow, will ensure you’re prepared for life as a yoga business owner.

Business Planning Download

We’ve found that the best way to approach business planning is to work on it in small chunks . Trying to get the whole document done in one go is the quickest route to overwhelm. Instead, we recommend working on just one section each day. This will enable you to complete the whole thing within a week, without stressing out.

To simplify the process, we created a  cheat sheet for preparing your yoga business plan. It walks you through 7 simple sections that’ll result in a killer document, without the stress. You can download it as part of our Fitness Business Templates…  

Fitness Business Templates & More

Our ready-made templates make it quicker, cheaper, and easier to promote your fitness business. They can improve the effectiveness of your sales and marketing campaigns. If you aren’t an experienced marketer, then templates also provide a useful guide for you to follow.

Whether you run a gym club, fitness studio, or personal training business, these templates will save you time and effort. They’ll help you to plan and organize your promotional activities so that you generate more revenue . You’ll get 60+ templates covering sales, marketing, lead gen, client training, and business start-up resources.

Caroline @ Wellness Creative Co

Qualified personal trainer (BSc Sports Science) & nutritionist (MSc Human Nutrition) with 15+ years of fitness & wellness marketing experience working with global brands.

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How to Open a Yoga Studio

Free Yoga Studio Business Plan Template

14 Min Read

38 MILLION!

Yes, over 38 million Americans now practice yoga regularly.

And more and more people are now realizing how great yoga is for both body and mind. So, it’s no surprise the yoga industry is booming. Experts think the global yoga market will be worth over $200.35 billion by 2030!

With so many experiencing yoga’s positive effects, yoga studios have truly become community centers for wellness. They provide a space for people to improve their health while also connecting with others.

So, opening your own yoga studio could be an amazing opportunity if you’re a passionate teacher wanting to share your love of yoga. Or perhaps you just enjoy the yoga practice yourself and want to help others feel the same benefits.

In this guide, we’ll walk you through everything you need to know to launch a successful studio. Let’s start with the basics.

What is a yoga studio business?

A yoga studio is a fitness facility devoted exclusively to yoga. At a dedicated yoga studio, you’ll find rooms designed specifically for holding yoga classes,  practicing it, and sometimes, providing supplementary services like massage.

Yoga studios offer group classes led by yoga teachers in a variety of styles, like Hatha, Vinyasa, Iyengar, Ashtanga, and more. Studios also often provide yoga teacher training programs. Many yoga studios sell retail merchandise like yoga mats, props, apparel, and more.

Some of the services and offerings provided by yoga studios include:

• Group yoga classes for all levels
• Private yoga instruction
• Yoga teacher training programs
• Workshops, retreats, and special events
• Retail products related to yoga, meditation, etc.

The yoga business model relies on customers signing up for memberships or purchasing packages of classes. Additional revenue streams include teacher training, workshops, retail sales, and private yoga sessions.

Now that you understand the basics of what a yoga studio is, let’s look at the many benefits of running one.

The Benefits of Running a Yoga Studio

Opening a yoga studio allows you to turn your passion for yoga into a meaningful and rewarding livelihood. Here are some of the biggest benefits of running your own yoga business:

Make a Meaningful Impact

As a yoga studio owner, you get to help guide your community toward greater wellness every single day. Introducing yoga’s myriad benefits to new students is an incredibly fulfilling way to make a difference.

Do Work You Love

Very few entrepreneurs are lucky enough to build a business around their truest passion. With a yoga studio, you’ll wake up excited to share your life’s work.

Flexible Lifestyle

Being your own boss means making your own schedule. Enjoy the freedom of teaching when you want and taking time off when needed for a superior work-life balance.

Profit Potential

While not get-rich-quick, popular studios can generate six-figure annual profits over time. As your business grows, you’ll be rewarded financially for your efforts.

Supportive Community

The yoga world is tightly knit and collaborative. You’ll form deep connections with students and other owners who become like family.

There are so many good reasons to open a yoga studio. It’s extremely rewarding to share your love of yoga – just be ready for hard work!

Let’s move ahead and learn the step-by-step process of starting a yoga business.

How to open a yoga studio

• Develop Your Vision and Brand Identity
• Market Research and Competitor Analysis
• Create a Solid Business Plan
• Business Registration and Permits
• Securing Funding
• Finding the Perfect Location
• Building Your Yoga Team
• Developing Your Class Schedule & Offerings
• Marketing & Promotion Strategies

1. Develop Your Vision and Brand Identity

Before taking any concrete steps, it’s crucial to get crystal clear on your vision and brand identity for the yoga studio. This will serve as the guiding light for all your future decisions and planning.

Defining Your Vision

Your vision is the inspirational future you want to create with your yoga studio. Ask yourself some deep questions:

• What is your highest intention and impact you want to have? Is it creating a community, helping people find peace, or something else?
• What type of yoga experience do you want to provide? Will you offer vigorous vinyasa flows, gentle restorative classes, or a blend?
• Who is your ideal student? Athletes, seniors, prenatal, corporate professionals? Get specific.
• What will set your studio apart and keep students coming back? Highly personalized attention, unique themes, add-on services?

Get clear on every aspect of the yoga space and experience you want to manifest. Write out a detailed vision statement to refer back to.

Establishing Your Brand Identity

Your brand identity is how you’ll bring that vision to life and what you want people to associate with your studio. It encompasses:

Core Values – What principles will guide your actions? E.g. authenticity, inclusivity, growth.

Brand Personality – If your studio was a person, what traits would it have? E.g. nurturing, edgy, tranquil.

Visual Identity – Your logo, color palette, font styles, and overall aesthetic should reflect your personality.

Voice and Tone – How you communicate in writing, from website to social captions.

Craft an identity that aligns with your vision and resonates with your target students. Consistency in living your brand identity will breed recognition and loyalty.

With a clear vision and brand identity locked in, you’ll have a roadmap for everything from designing your studio space to pricing your offerings. Take the time to lay this crucial foundation before moving forward.

2. Market Research and Competitor Analysis

With your vision and brand identity crystalized, it’s time to zoom out and analyze the yoga studio landscape you’ll be entering. Doing thorough market research upfront is key to identifying opportunities and giving your studio a competitive edge.

Start by scoping out the other yoga studios already operating in your target area or neighborhood. Make a checklist of factors to assess like:

• Class styles and schedule
• Pricing and membership models
• Amenities like showers, retail, etc.
• Overall studio vibe and aesthetics
• What they seem to do really well
• Potential gaps you could fill

Don’t just read about the competitors online – experience them in person too. Notice everything from the instruction quality to little details that delight or fall flat.

It’s also wise to analyze pricing in your market. Are there opportunities to be on the lower end, luxury end, or to get creative with membership packages? The goal is to spot your future studio’s sweet spot in terms of offering and value.

Organize all your research into a simple competitive matrix that captures each studio’s strengths, weaknesses, and unique differentiators. This makeshift competitive analysis will illuminate how to position your yoga studio for maximum visibility and appeal.

By putting in the work upfront, you’ll unmask your most viable pathways to stand out rather than just blending into an already saturated market.

3. Create a Solid Business Plan

With your vision set and the research done, it’s time to map out your entire yoga studio endeavor through a comprehensive business plan. This crucial document will be your roadmap and pitch for launching successfully.

At its core, your yoga studio business plan should cover:

Executive Summary

Distill your entire concept into a high-level, inspiring overview. Summarize your unique offering, target market, competitive advantages, and goals.

Company Overview

Delve into the details of your yoga studio’s origins, mission, leadership team, location plan, legal structure, and more. Essentially, why, what, and by whom.

Service Offerings

Get specific about the yoga classes, workshops, teacher training, retail components, and any other services you’ll provide. Also, outline the pricing strategies here.

Market Analysis

Lean on that market research! This section covers your target demographics, community dynamics, competitive analysis, and your unique market positioning.

Marketing & Sales

Lay out your comprehensive promotion strategies – website, social media, advertising, partnerships, referrals, grand opening, etc. Leave no efficient marketing channel unconsidered.

Financial Plan

Make your projections airtight by calculating yoga studio startup costs , operating expenses, revenue forecasts, funding needs, and financial milestones over 3-5 years. Investors will scrutinize this.

A business plan is more than just checking a box. It’s your chance to pressure test your entire yoga studio concept for gaps or flaws. Approach it with diligence, using data and assumptions that align with your competitive research. A Business planning app can help here.

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4. Business Registration and Permits

The next crucial step is to make your yoga studio officially legit by handling all the registration and permit requirements.

First up, you’ll need to decide on a business structure – sole proprietorship, partnership, LLC, or corporation. Many yoga studios opt for the limited liability protection of an LLC. But weigh the pros and cons of each type as it relates to taxes, ownership, and exposure to liability.

Once you lock in a structure, register your business name and file the paperwork to make it official with your state. Having a separate business bank account and accounting system is also a must for maintaining order.

The next key step is ensuring your yoga studio facility has all the proper licenses and permits before opening the doors. Depending on your location, you may need:

• Business license or tax registration
• Certificate of occupancy for your building
• Permits for renovations or signage
• Sales tax license if you’ll have a retail component
• Music licensing if you’ll play copyrighted music

While paperwork is tedious, these registrations and permits give your business legitimacy and legal protection. They ensure you follow zoning regulations, safety codes, and tax laws right from the start. The last thing you want is to invest so much into launching, only to face fines and forced closures later for non-compliance.

By diligently crossing these administrative hurdles, you clear the path for your yoga studio’s long-term success and peace of mind.

5. Securing Funding

Transforming your yoga studio dream into reality requires a sizable financial investment upfront. From renting your space to outfitting it with proper flooring, mirrors, supplies, and equipment – costs can quickly escalate. That’s why securing adequate startup funding is so critical.

Most new studio owners can’t solely self-fund, so explore multiple potential funding sources and get creative:

Personal Savings – If you have some savings, utilizing your own capital shows full commitment to investors. But don’t drain your reserves entirely.

Small Business Loans – Consider traditional banks and credit unions, as well as SBA-backed loan programs for entrepreneurs.

Crowdfunding – Kickstarter and other crowdfunding platforms allow you to rally support from your yoga community and future students. Effective for raising smaller amounts.

Angel Investors – If your plans and projections are solid, you may find an angel investor willing to fund your studio in exchange for equity.

Business Partners – Teaming up with another yoga teacher/investor who matches your passion and vision is another avenue. Split the costs and profits.

The key is strategically patching together sufficient funds from multiple sources to cover your startup costs, with some reserves for the first 6-12 months of learner income. Having an adequately capitalized launch is pivotal for long-term yoga studio success.

6. Finding the Perfect Location

Arguably, one of the biggest decisions for your new yoga studio is where to plant your roots. Choosing the right location can make or break your ability to attract a loyal community of students.

Start by getting hyper-specific on your target area and demographics. The location should be easily accessible for your students. Budget is of course a factor, but avoid the temptation to jump at the cheapest rental rate.

When it comes to space, aim for around 600-800 square feet of practice area to comfortably fit 15-20 students per class. Emergency exits, storage, bathrooms, and other amenities are additional square feet needs.

But just as important as the physical space is the neighborhood vibe. Yoga practice areas should align with and enhance the experience you want to provide. A busy commercial district may not be conducive to a meditative, serene environment for example.

Finally, don’t set up shop immediately next door to too other existing studios. Don’t settle on a space until you’re confident it checks all the boxes.

7. Building Your Yoga Team

The instructors you hire are the heart and soul of your yoga studio. Cultivating a talented team aligned with your vision is essential for delivering consistently excellent experiences.

Don’t rush the hiring process – take your time vetting candidates through working interviews, sample classes, and group auditions. Credentials are important, but shared passion, style alignment, and team chemistry are just as crucial.

As you evaluate potential instructors, look for:

• Extensive training and experience, especially in disciplines you want to offer
• Strong teaching skills that create an energizing yet supportive environment
• Openness to your unique philosophies, sequences, or approaches
• Overall professionalism in areas like appearance, timeliness, and communication

Hiring is just the first step. Implement a thorough onboarding program to ingrain new instructors in your studio’s policies, methods, and the little details that shape your distinct culture. Clearly outline expectations around conduct, attire, growth opportunities, and compensation upfront.

Your instructors are the face of your brand, so choose team members who elevate your reputation.

8. Developing Your Class Schedule & Offerings

When crafting your yoga class schedule, strike a harmonious balance between variety and brand focus. Offering a wide range of styles, from vinyasa to prenatal to aerial can maximize your appeal. However, trying to be everything to everyone also risks diluting your unique identity.

The idea is to establish a core lineup rooted in your studio’s philosophy and market niche.

Timing is also key. The peak slots are typically early morning for the pre-work crowd and evening for those decompressing after their day. But be strategic – if you’re targeting, say, prenatal clients, mid-morning or weekend classes could be primetime.

Don’t overextend your initial offerings. It’s better to start leanly while assessing demand, then intelligently expand your schedule over time as you find your stride.

9. Marketing & Promotion Strategies

Even the most beautifully designed yoga studio will struggle without an effective marketing strategy for attracting students. When first launching, focus your efforts on cost-effective tactics that maximize reach:

Social Media: Leverage free platforms like Instagram and Facebook to build your brand’s personality. Share inspirational content, behind-the-scenes peeks, and yoga tips to start cultivating a following.

Local Partnerships: Attend community events, cross-promote with complementary businesses such as juice bars, and gain grassroots support by handing out flyers and offering free class vouchers.

Google Presence: Ensure your studio appears in local searches by claiming your Google Business Profile. Integrate with Reserve with Google for easy bookings.

Strategic Ads: As you gain traction, utilize targeted Facebook and Google Ads to put your studio in front of your ideal demographics with compelling offers.

Referral Rewards: Implement an enticing referral program that incentivizes loyal students to spread the word about your studio within their networks.

Grand Opening: Build major buzz with a celebratory grand opening event featuring free yoga classes, studio tours, giveaways, and more!

The key is leveraging a mix of digital marketing avenues and creative community outreach. Get scrappy at first, then dial in more aggressive paid tactics as you grow. But never underestimate word-of-mouth as your most powerful promotional channel!

Common Mistakes to Avoid When Opening a Yoga Studio

As a business owner, you may be excited to open your studio; however, avoid these all-too-common pitfalls that can derail new yoga businesses.

Skimping on Hiring

Your instructors are the heart of your brand. Don’t compromise by hiring under qualified teachers just to fill classes. Prioritize passion, experience, and styles aligned with your vision.

Failing to Plan

Winging your studio journey without a solid plan is a recipe for disaster. Get clear on finances, operations, marketing, and long-term goals before diving in.

Overlooking Location

From parking accessibility to neighborhood vibe, your studio’s location impacts everything. Don’t settle for a space simply because it fits your budget. The wrong location can immediately hamper growth.

Ignoring Market Demand

Make assumptions about what classes or amenities your community wants at your own risk. Conduct ample research to validate there’s an audience before launching offerings.

Underestimating Marketing

Simply opening your doors won’t magically attract students. Dedicate ample resources to multi-channel marketing – social, partnerships, promotions, and more – to generate steady buzz.

Avoid these amateur mistakes by taking a strategic, detail-oriented approach from the very start. With careful planning and execution, you’ll be poised to grow a successful yoga studio adored by its community.

That covers everything you need to know to become a yoga studio owner! Use this guide as your trusty roadmap along with the recommended resources. Keep your vision clear and be willing to adapt when needed. With smart planning, your unique studio will come to life.

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Frequently Asked Questions

Is owning a yoga studio profitable.

While profits don’t come easy at first, successful yoga studios can certainly be highly profitable over time. With the right location, solid marketing, and a loyal customer base, annual profits well into the six figures are attainable.

How big of a space do you need for a yoga studio?

While profits don’t come easy at first, successful yoga studios can certainly be highly profitable over time. With the right location, solid marketing, and a loyal following, annual profits well into the six figures are attainable.

What type of yoga will my studio specialize in?

That depends entirely on your vision and market. You could offer a diverse range of styles like hot yoga, vinyasa, yin, prenatal, and more. Or specialize in just one, like Ashtanga to carve a distinct niche.

Should I hire additional yoga instructors?

Having a talented team of instructors who embody your studio’s philosophy is crucial for scaling and providing consistency. But start lean with just 1–2 instructors initially and expand your team gradually.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Popular Templates

How to Write a Yoga Studio Business Plan + Free Sample Plan PDF

Elon Glucklich

6 min. read

Updated April 3, 2024

Free Download: Sample Yoga Studio Business Plan Template

Yoga’s popularity is surging. With more adults focused on personal wellness, the physical and mental benefits of yoga have attracted over 36 million people in the U.S. to practice yoga regularly. And the trend has created a growing market for dedicated yogis with an entrepreneurial streak to turn their passion into a thriving business.

But running a successful yoga studio requires more than knowledge of the craft. A business plan helps you document all the important decisions and key details you’ll need to cover to be successful. It organizes your research, and gets you to think strategically about the impact of everything from your studio location to class pricing.

It’s also crucial if you’re seeking a bank loan or other source of outside funding. Lenders and investors will want to see a clear plan before committing resources to your studio.

• What should you include in a yoga studio business plan?

No two yoga studios are alike. But there are a few sections we recommend including in your yoga studio business plan, no matter what your vision is:

Executive summary

Products and services, market analysis, marketing and sales plan.

• Financial plan

If you’re looking for a bank loan or investment to fund your studio, it’s a safe bet to follow a traditional structure when writing your business plan . Otherwise, just focus on the sections you feel are relevant.

The executive summary introduces your vision and sets the tone for the rest of your business plan. Your executive summary shouldn’t run over 1-2 pages and should be written last, since it summarizes the entire plan.

A reader should understand the essence of your business from this section alone. Does your yoga studio provide a haven for stressed urbanites of all ability levels? Do you cater to yoga enthusiasts by offering advanced classes? Briefly describe the problem you solve for clients.

Then, outline your studio’s focus. Describe any unique programs you offer, such as:

• Mindfulness programs
• Flexibility classes for athletes
• Restorative sessions for people recovering from injuries. 

You should also briefly touch on who your target market is, and why your yoga studio is uniquely positioned to attract them.

The products and services section of your business plan lays out your revenue streams. Start with your core offerings: What yoga classes do you offer? 

Besides the basics — Vinyasa, Gatha, restorative, etc. — emphasize the expertise of your instructors, as well as any specialties you offer, like beginner-focused or prenatal classes. You should also describe your class structure and pricing options, such as:

• Memberships
• Class packages

In addition to classes, look at related products or services you might be able to turn into revenue streams. They could include:

• Yoga apparel, equipment, and wellness products
• Workshops and teacher training
• Online classes and retreats

Understanding your customers is key to running a profitable business. 

You need to create a portrait of your ideal client before you can develop effective strategies for reaching them. Your market analysis is where you document the demographic and behavioral traits of your target customers.

Your actual customer mix may vary, but do you generally envision serving:

• Young professionals
• Active seniors

What about location and income level? Based on where your studio is located and who your ideal clients are, do you emphasize affordability or a premium experience?

You should also consider the lifestyle factors, values, and motivations of your customers. What’s most important for your customers when they come into your studio? Is it:

• A strenuous workout
• Stress relief
• Spiritual well being
• Physical rehabilitation

You also need to size up your competition . Note the strengths and weaknesses of other yoga studios, gyms, meditation centers, and online classes. Compare their services and pricing to your own.

Understanding how you stack up will focus your market research and help you hone in on your competitive advantage as you develop your marketing strategy.

This section explains how you will spread the word about your studio, and turn potential customers into paying clients.

Your market research should have helped you create a picture of your ideal customer. Now, describe your marketing strategies for reaching them.

Social media is a powerful medium for connecting with your community of yoga enthusiasts. You can post inspiring messages and engaging videos to showcase your studio and classes on channels like Instagram, TikTok, and Facebook. Consider targeted social media ads as well.

Beyond social media, consider marketing tactics like:

• Posting engaging videos and inspiring messages on your social media channels
• Buying digital or print advertisements
• Writing blog posts and creating videos for your website to highlight your expertise
• Forming partnerships with local wellness-focused businesses
• Holding special promotions like free classes at community events

While your marketing strategy aims to increase awareness of your yoga studio, your sales plan describes how you will translate this attention into revenue for your business.

Explain in your plan how you enroll customers, and whether you offer flexible options like paying on a per-class basis, or require memberships. Describe whether you provide any special offers like free or discounted trial classes, or incentives for current members who refer friends.

It’s important to remember that none of these tactics should be set in stone. A business plan is meant to evolve with your business, and you should be testing your marketing and sales strategies, determine what’s working and adjust accordingly.

Financial Plan

The financial section of your business plan can seem daunting, but it’s not as complicated as it sounds. All businesses have to track their sales and expenses, and creating a financial plan involves using those figures to project how your business will perform, and whether you will be profitable. 

Let’s break down the components of a financial plan.

Sales forecast : Project your revenue based on class attendance, memberships, retail sales, workshops, and any other income sources. Be realistic, especially in the beginning.

Expense Budget : List all of your costs, including:

• Rent and utilities
• Instructor pay
• Yoga supplies and equipment:
• Cleaning supplies
• Marketing expenses

Profit & Loss (P&L) : Your income after expenses are taken out, showing if you’re generating a profit.

Cash flow statement : Key for managing your yoga studio from day to day, it predicts how much cash you have on hand at any time to ensure you can pay instructors and bills.

Balance Sheet : An overview of your studip’s financial standing, listing assets (cash, equipment), liabilities (any loans), and the owner’s equity in the business.

Startup costs : If you’re writing a business plan because you’re seeking a bank loan to start or expand your yoga studio, detail expenses like studio build-out, equipment purchases, and initial marketing.

Be upfront about any predictions in your sales forecast, such as the number of clients you expect to serve and how much revenue you’ll bring in if you add classes or increase prices (researching financial data for yoga studios will be helpful here). Remember, these projections are basically educated guesses, and they’re meant to be updated over time as you run your business and get actual data.

• Download your free yoga studio sample business plan

Download our yoga studio sample business plan for free right now to help you beat writer’s block and get started on your own business plan. You can copy and paste sections from the sample plan and customize them for your business.

Check out our other fitness and beauty sample business plans as well, or browse from the full Bplans collection of over 550 sample business plans to get inspired.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.

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How to Write a Yoga Studio Business Plan (+ Template)

Creating a business plan is essential for any business, but it can be beneficial for yoga studio s that want to improve their strategy or raise funding.

A well-crafted business plan outlines your company’s vision and documents a step-by-step roadmap of how you will accomplish it. To create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every yoga studio owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Yoga Studio Business Plan?

A yoga studio business plan is a formal written document describing your company’s business strategy and feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Yoga Studio Business Plan?

A yoga studio business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Yoga Studio Business Plan

The following are the key components of a successful yoga studio business plan:

Executive Summary

The executive summary of a yoga studio business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your yoga studio  
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast, among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

You may not have a long company history if you are just starting your yoga studio. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company or been involved in an entrepreneurial venture before starting your yoga studio firm, mention this.

You will also include information about your chosen yoga studio business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a yoga studio business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the yoga studio industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, a yoga studio’s customers may include:

• Working professionals who are stressed and seek yoga as a form of relaxation
• Seniors who want to stay active and improve their flexibility
• Expectant mothers who want to prepare for childbirth through yoga
• Athletes looking to improve their performance
• Yoga students of all levels who want to deepen their practice

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or yoga studio services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your yoga studio may have:

• Offerings: You may offer a unique type of yoga not found at other studios, such as aerial or hot yoga.
• Location: You may be the only studio in your town, making it convenient for people who live or work nearby.
• Size: You may have a small, intimate setting that makes students feel comfortable, while competitors have large, impersonal studios.
• Atmosphere: You may have a calm and relaxing atmosphere, while competitors are high-energy and fast-paced.
• Teachers: You may have experienced and certified teachers, while competitors have less qualified instructors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service: Detail your product/service offerings here. Document their features and benefits.
• Price: Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place: Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion: How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your yoga studio via word-of-mouth marketing.  

Operations Plan

This part of your yoga studio business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, your Operations Plan will outline the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a yoga studio include reaching $X in sales. Other examples include adding new locations, launching a new website, or hiring additional staff.

Management Team

List your team members here, including their names and titles, as well as their expertise and experience relevant to your specific yoga studio industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here, you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue: how much revenue you generate.
• Cost of Goods Sold: These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss): Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Yoga Studio

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Yoga Studio

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup yoga studio .

Sample Cash Flow Statement for a Startup Yoga Studio

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your yoga studio company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

By going through the process of creating a business plan, you will be able to determine potential challenges and solutions and anticipate what lies ahead.  

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How to Write a Successful Hot Yoga Studio Plan (+ Template)

How to Create a Yoga Studio Business Plan: A Super Simple Guide

Writing a yoga studio business plan is key if you want to build a successful practice.

Turning your love of yoga into a well-thought-out yoga studio business plan will require focus, research and a lot of dedication. 

In this article , you will learn how to plan the studio of your dreams while also positioning yourself among your competition as the leading yoga experience in your community, whether you desire to teach in your home, in a co-op, or in an independent yoga studio.

• 1 Crafting a Business Plan Template
• 2 Don’t Hold Back When Envisioning Your Yoga Studio — DREAM BIG!
• 3 Comply with Yoga Studio Regulations
• 4 Build a Yoga Studio
• 5 Consider a Yoga Co-Op Business Plan
• 6 Opening a Yoga Studio in Your Home
• 7 Yoga Retreat Business Plan
• 8 Barre Studio Business Plan
• 9 The Final Word on Creating Your Yoga Studio Business Plan

Crafting a Business Plan Template

Just as you set your intention for each yoga practice, a good business plan begins with an intention or a vision. 

To start, design your studio vision based on how you desire it to be positioned and operate within five years of the date you capture this vision on paper. 

As you plan, ask yourself, “What is my studio like when it’s most successful? What does this community need that I can offer?”

Don’t Hold Back When Envisioning Your Yoga Studio — DREAM BIG!

Now that you have a vision, break it down into a plan that helps ensure you are on track in year three, then tap into the most important goals to make this dream a reality in year one. 

These important goals are what will help you execute your vision statement into important details for your marketing plan, reason for being to pitch investors, the community, and potential clients of your studio.

If you want help in manifesting your vision , several websites help yoga studios succeed in this critical first step.

After you have your vision, start to identify your target market or client. To open a yoga studio, you must design your yoga business with certain students in mind.

For example, perhaps you wish to open a studio that offers specialties, including pre- and postnatal yoga, senior wellness, helping runners recover faster, or classes with animals, such as goat yoga. Research yoga market growth trends to help develop your vision of your yoga business.

The next step past establishing your target market is to determine if other places offer yoga to that clientele. 

Consider attending one of their classes and talking to participants for feedback and information before and after class. 

Observe what kind of space is necessary to successfully open a yoga studio for that population. For example, prenatal yoga uses balance balls to help pregnant participants safely sit and stretch. [insert prenatal yoga photo]

Plan and build a website to connect with your students and advertise your yoga business. Word-of-mouth support is a leading and free advertising tool, so you must take time to design and launch a website to create this success. 

Consider collecting data on your potential customers by offering a first-time free class in exchange for their email address, name, phone number, and services they desire. Be sure your social media links show up on your website to help spread this offer by word of mouth!

A business plan must include financial goals. Your financial goals should itemize membership fees, single class fees, and what costs are attributed to running your business. 

These costs include marketing, rent, instructor payroll, and business registration fees. Find a business financial planning organization in your area that helps first-time business owners know what to expect each year.

An executive summary must be included in your business plan for new investors or financial institutions to get top-level metrics on your proposal.

Comply with Yoga Studio Regulations

Like all businesses that earn sales and service the public, an open yoga studio must follow regulations. 

These include business licenses from local government, instructor certifications from accredited yoga training programs , and maintaining financial statements for tax filings. Contact your local chamber of commerce to learn the financial requirements of your business in your area.

You might also find our round-up of expert advice on yoga studio advertising helpful.

Build a Yoga Studio

It is unlikely a location exists perfectly outfitted for your new yoga studio’s needs, so you must find the best area that suits your vision and build one.

Find a venue location in your community where your future students will want to go. For example, is there a neighboring business your students also support? These could be a juice bar, coffee shop, or day spa.

Hire a contractor to design and build your yoga studio with the colours, smells, lighting and sounds you want students to enjoy during each experience. The way your students feel in each session will determine if they return. The environment is as important as the quality of yoga instruction! 

Consider a Yoga Co-Op Business Plan

If you are nervous about taking full responsibility for the overhead and needs of an independent yoga studio, you might wish to start or join a yoga co-op. This is a facility where different yoga business owners share in the ownership of a facility by renting a private space to offer their unique yoga services. 

This option enables some instructors to offer hot yoga within the same facility as aerial yoga, for example. A co-op can have as many yoga business offerings as necessary to maintain the needs of the owners and the community.

A co-op offers a broader community of like-minded people in both studio business owners and clients. If you desire to participate in a co-op, it will be important to include the other yoga operations within the executive summary of your business plan so investors know you rely on others to help your business succeed. 

After all, if several co-op owners decide to leave, then your plan will be in jeopardy unless you find new co-op yoga businesses to fund the space and keep the overall business strong.

Opening a Yoga Studio in Your Home

Many certified instructors who want to establish a yoga studio business choose to start small and launch their first year of practice in their homes so they can start their yoga business with lower overhead costs. 

A home yoga studio business needs a quiet, large and clean space to guide participants in meaningful yoga sessions without distractions. Therefore, an outfitted freestanding garage or a room with little furniture would be good spaces to offer classes. 

Creating a business plan for a small-scale yoga business with goals of only 30 members is still a good idea so to ensure revenue goals are made and met. 

Unless your home studio is in separate quarters than your place of rest, use precaution when servicing the public from your home. A home yoga studio owner might wish to start their new business with friends as initial customers. 

A referral program is a popular marketing method that can build a trusted community of new studio clientele as you practice in your sacred space.

Yoga Retreat Business Plan

A yoga retreat is a unique getaway experience that includes staying in a beautiful destination and eating delicious and healthy food alongside a diverse yoga class schedule to satisfy attendees.

A business plan for an annual yoga retreat is essential. Your yoga retreat will need its own website, as well as a social media, plan to effectively address all event details and sell as many tickets as possible. Pricing for the retreat will be critical to ensure you meet profitability projections. 

Planning a yoga retreat takes at least one year, so start early and be prepared to plan a  “rain or shine” schedule in case using the outdoors is a part of the plan. Prepare to offer a lot of perks in your retreat to make the high ticket price worth the investment AND to ensure repeat customers for years to come.

The retreat industry has grown significantly as people satisfy the need to break away from technology and fully connect with themselves and loved ones. Many tips are available online for designing and marketing your purpose-driven retreat.

Barre Studio Business Plan

Barre studios are popular facilities that offer similar benefits as yoga but through a very different style of workout.  Students participating in barre classes stand and sit using a wooden bar attached to a wall or freestanding support. Barre classes are low impact like yoga. 

A barre studio business plan is similar to a yoga studio business plan in that they both require market analysis, writing business growth goals, and determining monthly profit statements. 

A barre business plan will still need marketing through a website, a well-established clientele to share testimonials, and a great location registered to the company. Unlike yoga, barre classes typically occur only in a studio, given the need for bars attached to walls and long, floor-length mirrors.

It is recommended to include information in marketing statements about how barre classes train muscles in new and beneficial ways that are not addressed in other fitness formats.

The Final Word on Creating Your Yoga Studio Business Plan

No matter the details of your desired yoga-oriented business, the need for a yoga studio business plan is essential to get started. 

The business plan will ensure many of the requirements that need to occur in execution, marketing, and growth are captured to help keep you on track every year as you build a successful yoga business. 

The yoga community is ONE community. Be encouraged to share this article on social media and tag us with the respective handle below so others desiring to build their dream studio can also get the direction they need.  

Brandi Stewart is a lifelong fashion designer whose creations first appeared in the US comic book series,  Katy Keene , when she was twelve-years-old. She’s the wife of an endurance exercise fanatic, mother of two boys, and housekeeper for four rescue cats. Brandi is also a certified personal trainer and group fitness instructor striving to help people live their healthiest lives. She does her best writing early in the morning with a quiet house and a warm cup of coffee. Brandi loves to practice yoga, read biographies, and collaborate with business professionals in bringing beauty into the world.

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Everything you need to know to grow your business

How to make a yoga studio business plan.

Whether you’re a new business owner or are looking to update your current yoga studio business plan, you’re in the right place! Having a proper foundation and set of goals is vital to the success of your organization. Think of your yoga studio business plan as a compass, keeping your facility on course and always pointing you in the best possible direction.

Without a proper framework for your business, you may as well be lost. It’s important to have a plan to lay out your targets and establish what your business wants to accomplish year after year. This also helps you understand the ins and outs of your yoga studio and where your weaknesses and strengths lie. Your yoga studio business plan can help you work on the ways to evolve and establish the best possible methods to bring your facility to its highest potential .

Take your time when drafting your business plan, as it needs careful thought and consideration. If you have partners or a team, make sure to include everyone’s input as each may add their own sense of expertise. This is essentially a reflection of your yoga studio, so make sure that you are covering all aspects of your business and considering all elements.

What to Include in Your Yoga Studio Business Plan

Not sure how to get started creating your yoga studio business plan? Here are the steps we suggest.

1. Solidify your base

The first thing your plan must do is solidify the foundation of your business. With an accurate definition of your yoga studio’s core, you will be able to clearly describe it and explain to others what makes your facility unique.

The base of any business is its mission statement and vision . It’s important to understand the purpose of your yoga studio and what you want to offer people in your community. How is your facility going to improve the lives of others and what problems will you solve? Once you’ve clearly articulated these elements, you can start to decide how you’ll achieve your business’s vision.

Next, provide a proper description of your company. How did your company get started and how long has it been in business? Is your yoga studio specific to one certain type of teaching or do you include all different types of yoga? What types of services do you offer? How are these services unique at your studio? By answering all these questions, you can highlight the crucial elements of your facility.

Lastly, a strong base wouldn’t be complete without a description of how your studio is different than all the others. What makes yours stand out? How will you offer your members something new? This takes careful thought, as you want to make sure that your yoga studio is one of a kind.

With a proper yoga studio business plan, you can establish exactly what makes your facility in a class of its own.

2. Set goals and establish targets

Now that you’ve laid the foundation of your yoga studio, you can start to build on it by setting goals and establishing your targets. Whether you are writing a one or five-year plan, you must outline the direction you would like to take your facility.

This portion of your business plan is essential as you are outlining your path to success. It’s important to make sure the goals you’re setting are realistic. Try to be practical when setting your objectives, bearing in mind that your yoga studio may be new and just starting out.

Make sure that your goals are also specific. If your targets are too general, such as achieving a high client retention rate, then you’ll have no way of measuring them. Be more precise by saying that you would like to achieve a client retention rate of at least 60% within the first six months of your business. By being detailed, you can easily measure your success year after year.

Once you achieve your targets, it’s vital to set new ones. There is no true end point when managing your own business. Your yoga studio should always be growing and evolving to new heights with every target you hit. If you stop setting goals and get too comfortable with your present state, your facility will stagnate, so always think about the next big challenge and how you’re going to accomplish it.

3. Describe your management team

A description of your management team is another important piece of your yoga studio business plan, especially if investors are going to be taking a look at it. Highlight the members involved in your business and provide a brief summary of each.

When writing this portion, include job title, previous experience, as well as previous successes. Show that you have the right people helping you run your business and that their expertise is adding to your establishment.

This is also essential for all staff to know exactly what their job title and responsibilities are. With everything written down and in the open, there’ll be less confusion and more clarity when it comes to running an efficient business.

If your business is just starting out and you haven’t hired all key members of your team yet, include this in your plan. Think about providing a time frame for when you’d like to have all staff on board and make it a priority to hire the best team for your yoga studio .

4. Design your marketing plan

Now it’s time to come up with a strategy to market your yoga studio . This requires market analysis so you can get to know your competitors and the best possible ways to promote your facility.

First, you must become familiar with your target audience. Who are the types of people you want to market your yoga studio to? Think of age demographic, location, occupation, and challenges your customers may face. Next, begin to design an approach to effectively reach them and make your yoga studio’s presence known.

This can be done in several ways from email marketing to the use of social media. Email marketing is an effective method to promote your business, so compile a list of emails of the clients you currently have. Send monthly emails to keep them in the loop of what’s new at your studio and of any promotions you may be offering. Social media is another strong advertising tool, as it puts you in direct contact with your clients and prospective members. Everyone is active in the digital world these days, so join them and benefit from this free advertising space! Come up with creative posts to capture your target audience’s attention and engage them by regularly uploading new content.

When designing a marketing plan, it’s also important to know your competitors in the industry. Who are they and how is your studio different than theirs? This is also a great way of getting to know your studio’s strengths and weaknesses in comparison to others. By studying these factors, you’ll be able to develop strategic methods to set your studio apart and rise above the competition!

5. Devise a cash flow statement and revenue projections

Your yoga studio business plan must contain a cash flow statement and revenue projections to calculate the amount of money you need to keep your business afloat and your forecast earnings in the future. This will help you keep track of your facility and measure your success.

Cash flow statements are important to keep track of the money flowing in and out of your business. How much are you spending in order to maintain your facility? Being wary of such costs will help you sustain the livelihood of your yoga studio by ensuring that you are able to cover all expenses such as rent, staff salaries, and facilities. Capital expenditure is also important to note in this section, which is essentially the money you have put into the launch of your yoga studio. Logging these records will help you manage your financial costs and keep track of profit loss over time.

Revenue projections are an essential part of your yoga studio business plan as well. This is the amount of money which you predict your business will make month after month, year after year. This can help you devise targets and adjust certain aspects of your business to gain more revenue and return on your investment.

6. Invest in business management software

When measuring costs and efficiency of your yoga studio, consider including a section in your yoga studio business plan concerning investments you are willing to make to lead your business to success. For instance, why not put your money into an efficient business management software which will help streamline your facility ?

With WellnessLiving’s all-in-one yoga studio software , you can focus on the bigger issues while we handle the day to day tasks and logistics. For instance, with our exclusive software we can offer you a unique staff and client app to help take care of your organization. Our Elevate Staff App will help you manage your business on the go! From booking and cancelling appointments, to receiving payments and analyzing data, our app can simplify your daily tasks. Our Achieve Client App gives your clients the opportunity to manage their own schedules and rewards points. They can manage their accounts and interact with your studio in a fun, unique way.

Not only can we help you with such tasks, but we can also make your studio’s popularity soar with the help of our automated marketing options! Choose from seven campaign types to increase your client retention rates and achieve your marketing goals.

What’s Important to Remember is…

Having a yoga studio business plan is vital to the success of your company, from helping you define exactly what the purpose of your facility is, to allowing you to keep track of costs. Only by looking at your plan, can you measure how well your business is doing and set new goals for the future.

This is not to say that everything will always be outlined. Running a business comes with a lot of ups and downs and things will not always go according to plan. Remember to stay positive when things get hard and stay humble when things look up. If you are flexible and go with the flow, your business will stand the test of time.

We’ve only just touched on the ways that WellnessLiving’s yoga studio software can help your business. Curious to learn more? Book a free, no-commitment demo with us today!

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Yoga Studio Business Plan Template

If you want to start a yoga studio business or expand your current one, you need a business plan.

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their yoga studios.

Below are links to each section of your yoga studio business plan template:

Next Section: Executive Summary >

Yoga Studio Business Plan FAQs

• What Is the Easiest Way to Complete My Yoga Studio Business Plan?

Growthink’s Ultimate Business Plan Template allows you to quickly and easily complete your Yoga Studio Business Plan.

• What Is a Yoga Studio Business Plan?
• A yoga studio business plan is a plan to start and/or grow your yoga studio business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
• Why Do You Need a Business Plan for a Yoga Studio?
• If you’re looking to start a yoga studio, or grow your existing yoga studio, you need a business plan. A business plan will help communicate your business goals and your strategy for reaching them. Your Yoga Studio Business Plan should be updated annually as your company grows and changes.
• What Are the Sources of Funding for Yoga Studios?
• Yoga Studios are typically funded through small business loans, personal savings, credit card financing and/or angel investors.

Start Your Yoga Studio Plan Here

YOGA STUDIO BUSINESS PLAN OUTLINE

• Yoga Studio Business Plan Home
• 1. Executive Summary
• 2. Company Overview
• 3. Industry Analysis
• 4. Customer Analysis
• 5. Competitive Analysis
• 6. Marketing Plan
• 7. Operations Plan
• 8. Management Team
• 9. Financial Plan
• 10. Appendix
• Yoga Studio Business Plan Summary

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