Making Money at a Yoga Studio
Huff Post had an interesting article today about the reportedly empty new Yoga Works in NYC.
Contrary to what seems to be recommended by small business consultants in the area of yoga studio business models, perhaps the recurring auto-renew membership concept is not a good idea after all? I’m sure there is a negative perception of franchise studios which seem to lack a level of sincerity or personal connection. I won’t be able to provide lockers and showers, but I will remember your name, possibly your kid’s name, and provide a hug and complimentary tea. 🙂
One commenter suggests that maybe “yoga should not be monetized at all” as it is a “path” or “spiritual practice”. Then that could be a non-profit. I would argue that the yoga itself is not being monetized, but the space provided for it as well as guided instruction.
I imagine the debate will go on as to whether it’s too “American” and “Greedy” to ask for $15 from someone for a yoga class. Running a studio means legitimate costs in real estate, utilities, taxes, insurance and personnel. I see nothing wrong with asking for such a nominal amount to help cover these things. A (good) studio provides safe & ongoing instruction, community, and a beautiful, private space.
If you provide a true and worthwhile EXPERIENCE, that has real value.
McKenna Rowe is the Founder of Chakra 5 Mobile Yoga, an experienced team of corporate yoga instructors that provides mobile yoga classes on location and by appointment at businesses, schools and organizations throughout greater Los Angeles. Call us to start your corporate wellness program today: 310-853-3885.