Before opening your yoga studio, you need to have a business plan. You wouldn’t be thinking about starting a yoga studio if you didn’t love to teach and practice yoga, but it takes much more than that. You need to have a business plan for your studio, and we’ve got the perfect template for that.
There are a lot of things you'll want to have when starting your own yoga business (e.g., a strong financial plan, an adequate marketing mix, the right location, the best yoga teachers, the most effective yoga software, etc.). A business plan lets you put your thoughts and plans all in one spot. Plus, it serves as a guide when you are up and running and when you plan to grow your studio in the future.
After you’ve read the guide on How to Create a Business Plan for Your Future Yoga Studio, download this template to create your own yoga studio business plan, including:
Executive Summary, including the vision of your yoga studio, your target market, and how you plan to create a values-based yoga business, both for yoga teachers and students alike
Organization and Management, including what management software you'll use and how you plan to staff your yoga studio (both instructors and front-desk employees)
Pricing and Retention Strategies, including the drop-in price for your yoga classes, cancellation fees, and any membership options at your studio
Marketing and Sales, including how you plan to market your yoga teachers and various offerings (yoga classes, teacher training, retail products, etc.) across your website, print ads, social media, and more
Equipment and Retail, including the various equipment you'll need to help clients practice most effectively in your yoga studio as well as any retail products you plan to sell
Financial Projections, including the costs you'll need to start your studio (licensing, legal fees, equipment, rent deposit, etc.) as well as ongoing costs (rent, retail inventory, marketing efforts, etc.)
Key Performance Indicators (KPIs) and Future Vision, including the metrics you'll track to measure your progress and what it will take for your yoga business to first, breakeven, and then find long-term success
This comprehensive Microsoft Word Document walks you through all of the essential parts of a business plan and includes budgeting tables that link to Excel spreadsheets. It's the perfect way to keep track of everything for your yoga studio in one place!