How to Start a Yoga Studio
Yoga is an early Indian practice which focuses on mental, physical and spiritual wellness. Yoga has become one of the hottest trends in the fitness and wellness industry. Stress and an unhealthy lifestyle continue to affect the population, leading to more and more people looking at yoga for wellbeing. Further, the investment required for starting a yoga studio is minimum – making it an ideal business for those interested in yoga.
Health and Wellness Industry Outlook
Today people are moving from remedial care approach to approach of prevention. This switch in approaches has tremendously led to the growth of the wellness industry in India. With the practice of Yoga playing an essential role in preventive care, the opportunity for establishing a successful yoga studio in India is excellent.
Business Registration
It is advisable that yoga studios be started as a Private Limited Company to ensure the investment such as interiors or rental deposit can be transferred to another person in the future if the need arises. If the yoga studio is set up as a separate artificial legal person, then all the legal documents would be in the name of the different legal entity which will make it easy to transfer in the future.
Space and Infrastructure
Before starting out, it is essential to have a proper business plan that explains the objectives of business along with the requirements to achieve the business objective. The key factors of a yoga studio startup are the investment, maximum class capacity, fees per session, location of the studio, human resource requirement and more. The maximum class capacity has a direct impact on investment cost, revenue of the studio throughout its lifecycle. Hence, care must be taken while fixing maximum class capacity. Normally, a yoga studio requires 20 square feet of studio space per person. Therefore, a 500 square foot room space can accommodate 25 students and a 1000 square feet yoga studio can accommodate 49 students. A place with ample parking ensures high chances of success for the yoga studio.
Investment Requirement
The investment required for establishing a yoga studio is relatively less compared to other projects in the wellness and beauty industry. The notable investment of a yoga studio is only in the interiors and care must be taken to ensure a calm environment is set. In addition to this, the rental deposit would be the other major requirement for building a yoga studio. Keeping in mind the above two elements, a yoga studio can be started with a minimum investment of anywhere based on the location, size and interior investment. Banks may not favor to lend for starting a yoga studio – as no physical assets are being created. Hence, savings, as well as property-based loan or mortgage loan based on the income of the promoters, can be used to start a yoga studio.
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