You're going to a restaurant where you've never been and you told the waiter: "I just want hot food and it does not matter how much it costs?" Most people say it's ridiculous. But frankly, it's just as if someone who has been a yoga instructor decides to open a studio, but he does not really want to know about the business side of things.
I know you want to share your practice with others so that they can also benefit, but please believe me when I tell you that you will have more people to live if you choose to study a little while before starting your own studio.
One of the first things a client who plans to open a yoga studio is often telling me how many years have practiced yoga. They continue to meditate on the school they went to and what other yoga experiences they have. I respect you and admire this kind of experience and the discipline you need to get it.
At the same time, my workplace also points out that focusing on the teaching and practice of yoga is probably not the opening of the studio. If you are shocked to think, "What background could be better than yoga's annual experience?", Then this article is for you.
The successful involvement of the business is far more than just being good in yoga. In fact, in a recent conversation with the founder / director of one of the biggest and most successful yoga studios in Baltimore, he said he was not just an instructor. She stressed that she is a businesswoman who loves yoga.
Business is a lot more than a service or product for a client. There is a whole "behind-scenes" part that you do not usually see when you enter the front door. Business is about financial forecasts, strategic planning, marketing, sales, budgeting, maintenance, rental, subcontracting, accounting, and more.
If you are a person who is willing to get acquainted with these things (and you do not have to be an expert, but you have to understand them thoroughly), then maybe a studio is open for you. This is a wonderful rewarding and fulfilling experience. Indeed, the dream is accomplished for many.
However, understanding the factors that are essential to success before it actually engages. Here are some things you need to ask before you dive into a studio.
Are you willing or long to work at the beginning? Every small business will tell you about late nights and weekends about building a business. It's just a tough job. But he also has a great freedom. If you are not sure about this, consider purchasing a standard studio or yoga franchise.
Do you really study finance, budget, and bookkeeping? Better or worse, money is the life cycle of every business. Without the business failing immediately. In order to succeed, you need to moderate your finances. This means we know how much you are looking for every month, how much you spend, how much you spend, and how much you spend with you.
This also means that you need to know how much each month you have to pay for operating expenses (rent, electricity, etc.), payroll (paying employees) and pay yourself (you must also eat!). This also means that this is planned for the next year and will reveal how much money the studio will look for (how many students need it, a private section, etc.) This kind of design is essential for success.
Can you accept that business will never be completely smooth, but with some degree of bumps and holes, and that's just a part of the business's ownership? It is estimated that an average US company faces three or four times a "crisis" annually. This may be the most important employee who quits, an IRS audit, a significant unexpected cost, etc.
In addition, there are "daily hassles". The instructor is late, someone retreated, the stereo does not work, and so on. It's just a part of the business. And as the owner will have a large part of your problem to deal with it (until you grow up enough to hire a manager, then someone else will worry about it). Watch it as a wild and exciting adventure from which you can share a wonderful gift with the world and you'll be okay.
Do you have at least 50% more money than you need to get started? Most small businesses overestimate their costs over the first few years (and overestimate their profits). Rarely, running small businesses (at least from the start) costs costs. It always seems to be more.
This is because there are many unexpected and miscellaneous costs. All that the floor has been polished to pay business taxes to buy a new phone system. All this is added. Plan ahead and do not be surprised.
Do you want to learn about marketing or do you have money for a professional marketer who will do this? I know that marketing is thinking about telecoms and used automakers. These are just bad examples of marketing, just as Big Mac is a bad example of gourmet food, but it is still food (technically).
Marketing simply means that people who live alive may be useful to yoga, knowing that there is something that would really help them. If you do not, you will not only buy a business, but betray them that they do not enjoy this benefit in their lives. Imagine if there was a flat tire and it was difficult to change it and a towing car was driving but it did not stop because it felt too repulsive to change the tire.
People can miss something they want and need when they can not get the wonderful experience the studio can offer them. If you want to know this is the real marketing.
Is it acceptable that yoga incorporates energy, spirit and flow by driving a business to give a new energy to the mix: money. If you think your practice exceeds your concerns about money, you can rest assured that you are not alone. What can be less comforting, the very few studio owners who have this perspective have been working for more than a year.
Perhaps in an ideal world this would be different, but now, today, money is part of our lives. Like other forms of energy, money is simply the way to create change. This may be a new studio room, a donation to love or a pay phone.
Money is actually just another form of energy. And this is the form that every business needs today. We do not have to worship it, just look at it as an important resource. As a car needs gas, the business needs money. I would like your car to be different from gas, but for the time being I accept that it works. The situation is that a studio company and money need to work.
Are you really passionate about practicing yoga, not just yoga, but sharing yoga with others? Lead the yoga studio about sharing practice with others. Many of his students are likely to be newcomers. Some will do things that will change their minds, others are proud to make the profession self-confident.
In the studio of a studio, he will soon be misled if he does not comfortably serve beginners, people who love yoga, but do badly those who do not take seriously, just like those who are happy to see the practice.
Are you willing to make a mistake and learn from them? Success is about errors. As Thomas Edison tried more than a thousand different materials for filament lamps before he discovered one thing, such a business.
Success is not about doing it perfectly – the pursuit leads to mediocrity. Success is the result of trial, failure, and learning; and then do what you learned the next time and you did it better.
Sometimes this approach is called "Fire … Purpose … Fire … Purpose …" If you are perfecting a business, it may be very frustrating for you. Business is very imperfect, and those who are most successful and who are best accomplished are those who really understand that things should only be "good enough" and not perfect.
Can you do it without destroying your personal life if you fail? Although no one is planning a new business to fail, and that is definitely the last thing you want to think, sometimes it happens. Plan divorce while you're still in love.
In other words, you need to plan your business exit strategy at the beginning. You do not want to lose your house and you must declare bankruptcy if things do not go out. He will do his best to persist in person, even if the business is not. If you do not know, this may not be the best time to start the studio, or maybe find a partner or investor to share the burden. There are many creative solutions that can work for you.
Are you willing to make a thorough business plan? I think this is the most important element of the list. A business plan does not need a bank to borrow money, but it must be complete.
Unfortunately, it is true that "failure to plan plans to fail". A real business plan outlines how the studio works. It determines the types of people who come to the lessons and private sessions, estimating how many customers and students have to pay each month for the accounts. It's like a map with you when you're on a long journey.
By the way, the reason why banks want to see a business plan before lending money because they know that most of the businesses that will not eventually be missing out and do not want to lend money if they do not get repaid. Making a business plan is not hard (I often drive my customers through this process and there are a lot of books in the local bookstore). However, do this, make sure you have a plan.
These are the most important things I think someone should consider when opening a studio. Take your time, design it out, if it still looks and feels it's right for you to jump.
Possession of the studio may be one of the most enlivening things. I really want an exciting adventure. I would like you to see other items I've written for a studio to run for further guidance (visit my website at http://www.centeredBusiness.com for weekly articles and yoga industry).
If you're looking for a personal, one-on-one support for launching a new yoga studio, your yoga business coaching program can be extremely valuable. Please contact me at coach@CenteredBusiness.com .
Wherever you travel, you can find peace, fulfillment and success.