Yoga Studio Business Plan Sample

Do you want to start yoga studio business?

Do you want to start a yoga studio business? Well, you can easily start this business with lower investments and can make it successful provided that you plan it successfully and have a passion for yoga.
Before starting a yoga business, the first step you should take is to develop a comprehensive business plan yoga studio covering all aspects of your business. The business plan yoga studio will form the basis of your company’s future policies and will also help you in startup. So, to help you write an effective business plan yoga studio, here we are providing the business plan for a yoga studio business startup named ‘Kelly Yoga’.

Executive Summary

2.1 The Business

Kelly Yoga will be located at a ten minutes’ drive from the main residential district of San Diego. The business will be owned by Kelly Jill, a famous American yoga trainer.

2.2 Management

The company will hire a staff comprising of trainers, assistants and sales executives, all of which will be trained for one month prior to onboarding. Company management and staff is the thing that will make your business successful so make sure to plan it before you think about how to start your own yoga studio.

2.3 Customers

Kelly Yoga will be a licensed yoga studio where people of all age-groups will be taught yoga at different expertise levels by the best trainers in the United States.

2.4 Target of the Company

Our business targets are as follows:

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Company Summary

3.1 Company Owner

Kelly Yoga will be owned by Kelly Jill, an experienced yoga master. Kelly has been teaching yoga in various institutes across the United States for more than 20 years.

3.2 Why the Business is being started

Kelly is extremely passionate about learning and teaching yoga. She has been doing yoga since her childhood and has devoted her entire life to it. Her venture is not only aimed at making profits in this industry but she also aims to extend her reach to as many people as possible.

3.3 How the Business will be started

Before you think about how to start a yoga business, you must make a yoga studio business plan model. Kelly Yoga will be located at a ten minutes’ drive from the main residential district of San Diego. The business will be started in a facility which was previously used as a dance studio that’s why just a little work needs to be done so as to convert it into a yoga studio. In addition to the usual inventory, the company will procure stocks of yoga training aides and clothes for selling in the store inside the studio. The costs for startup are as follows:

The startup requirements are as follows:

Services for customers

The most important thing to decide before you start a yoga studio is the business services that you will be providing to your customers

We will provide following types of yoga classes:

1. • Yoga 1/Beginner: Yoga 1/Beginner is an introductory class for those people who are new to Yoga. This class emphasizes on the basic alignment of standing poses and will mainly focus on poses to stretch and strengthen the shoulders, back, and legs.
   • Yoga 2/Intermediate: Yoga 2/Intermediate emphasizes on refining the standing poses learnt by the students in Yoga 1. This class teaches them basic sitting postures, shoulder stand, and basic back bending poses.
   • Yoga 3/Advanced: Yoga 3/Advanced further refines the techniques learnt by students in Yoga 2. This class teaches them back bend poses, headstand, forearm balance, and full arm balance (handstand).
   • Vinyasa Yoga: Vinyasa Yoga teaches a vigorous flow style of yoga that synchronizes movement with breath. It offers a balance of endurance, strength, and flexibility, for challenging the fitness enthusiasts.
   • Gentle Yoga: Gentle Yoga is the lightest level of yoga and is even less vigorous than Yoga 1. Gentle yoga is often prescribed to people with muscle stiffness, weakness, muscle/joint pain, or fatigue. The class teaches gentle stretches and breathing along with simple movements designed for systematically increasing the range of motion of major joints.

Marketing Analysis of yoga studio business

The most important component of a yoga studio business plan is its accurate marketing analysis because it decides whether your startup will become a success or end in failure. That’s why an accurate marketing analysis must be carried out before developing a yoga business plan. If you are starting on a large scale then it is better to seek the help from the marketing experts who will also guide you through various yoga studio marketing strategies and will help you in developing yoga marketing plan. On the other hand, if you are starting on a small scale, you can take help from this yoga studio business plan template or other yoga studio business plans available online.

5.1 Marketing Trends

This yoga studio sample business plan also presents industry and market trends of this business which will provide you a clear demonstration of the market potential of this industry and will determine whether this industry is feasible for startups. The trends in yoga industry can also be taken from different yoga business plans available online. According to IBISWorld, there are more than 34,600 yoga studios or private yoga trainers in the United States as of 2018. The industry is growing at an estimated rate of 10.6% per year with annual revenue generation reaching above $11 billion. The industry is responsible for employing more than 137,000 people across the United States.
According to a 2015 study, around 37 million practice yoga in the United States. This is up from 20 million just three years ago, which means the number of people practicing yoga has nearly doubled in just three years. This increase is attributed to the increased health awareness among people since various studies have outlined how beneficial yoga is for human body. These stats show that this industry is feasible for startups provided that you plan your business successfully.

5.2 Marketing Segmentation

Marketing segmentation shows the various segments or groups of our prospective customers. Our target market is mainly the residential community living nearby at the 10 minutes’ drive from our studio. Our experts have identified following target groups for our services:

The detailed marketing segmentation of our target audience is as follows:

5.2.1 Children (6-18):

The first group of our customers will be the children living in the vicinity of our studio. Children are sent by their parents for learning Gentle Yoga due to its immense health benefits. Many children who are injured or suffering from muscle problems also practice yoga as a part of their medical treatment. However, the number of children learning yoga is very small as compared to the adults or senior people that’s why this group will not have a significant contribution to our sales and revenue.

5.2.2 Adults (18+):

The second and the biggest category of our customers includes teens and individuals who themselves want to learn yoga for any reason and are aged above 18. The individuals lying in this group are likely to learn all 5 types of classes offered by us. Women will form the major part of this group since according to a 2015 study, 72% of the yoga practitioners in the United States are women. Another aspect by which this group will contribute to our revenue will be the sale of yoga training aides, yoga clothes, shoes and mats from our store.

5.2.3 Professionals:

The last category includes those individuals who have a passion for yoga and want to learn it at the advanced level. This group will be trained at a completely different level under the direct supervision of Kelly. This group will also contribute to sales from the yoga store since they will be practicing yoga in their homes.
The detailed market analysis of our potential customers is given in the following table:

5.3 Business Target

Our business targets are:

1. • To become the best yoga studio in San Diego
   • To achieve the net profit margin of $10k per month by the end of the first year, $15k per month by the end of the second year, and $25k per month by the end of the third year
   • To balance the initial cost of the startup with earned profits by the end of the first year

5.4 Product Pricing

Product pricing is one of the most important factors to decide the success of a startup. For the purpose of encouraging sales, we have priced our services slightly lower as compared to our competitors. We will basically offer three types of packages to choose from:

1. • Monthly membership for $500 per month
   • Semi-annual membership for $2500 per six months
   • Yearly membership for $4000 per year

The membership fees of Yoga 3 class will be 30% more since the students in this class will be trained directly be Kelly and other master trainers in the United States. The pricing of yoga-related products available in our store will be the same as in the market.

Strategy

Like marketing analysis, sales strategy is also an important component of any business plan yoga studio so it must be thought through before starting your venture. In case, you don’t know how to make an effective sales strategy for your business, you can take help from this free yoga studio business plan template or other sample plans available online.

6.1 Competitive Analysis

Although we have a tough competition but we have entered the market with several competitive aspects. Our prices are reasonable and comparatively lower than the most of our competitors. We have an excellent team comprising of the best yoga trainers in the United States and our biggest competitive advantage lies in the power and dedication of our team.

6.2 Sales Strategy

We will attract our customers towards us by various efforts, such as:

1. • We will arrange seminars and awareness sessions on the importance of yoga and the accompanying health benefits
   • We will arrange transportation facilities for our members and students
   • We will advertise our yoga studio in magazines, newspapers and social media
   • We will offer discounts on the membership for the first three months of the launch

6.3 Sales Forecast

6.4 Sales Monthly

6.5 Sales Yearly

Personnel plan

In case, you are starting your yoga studio but you don’t know what staff is required for starting a yoga studio, you can take help from this yoga studio business model sample plan.

7.1 Company Staff

The company will initially hire the following staff:

1. • 1 General Manager for managing the overall operations
   • 2 Administrators/Accountants for maintaining financial records
   • 3 Sales Executives responsible for marketing and discovering new ventures
   • 6 Trainers for providing yoga training to members
   • 8 Assistants for undertaking day-to-day tasks
   • 2 Drivers for providing transportation facility to members
   • 3 Cleaners for cleaning the studio
   • 1 Front Desk Officer for acting as a receptionist

7.2 Average Salary of Employees

Financial Plan

Finally, you will have to develop a detailed financial plan outlining the development of your company over the next few years. If you’re starting on a smaller scale, you can take help from this yoga studio business plan example otherwise you will have to seek help from financial experts. The financial plan of Kelly Yoga is as follows.

8.1 Important Assumptions

8.2 Brake-even Analysis

8.3 Projected Profit and Loss

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 Business Ratios

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OGS capital professional writers specialized also in themes such as writing a martial arts business plan, business plan for opening a gym, small gym center business plan, business plan dance studio, CrossFit studio business plan, climbing gym center business plan, etc.