Running a successful yoga studio can be a hard job. There are countless new studios opening up all the time and competition can be really tough. That’s why knowing how to play the numbers is crucial for your yoga studio’s success.
But as money, time and space are often limited, are there any easy ways to increase your yoga studio’s revenue?
The answer is ‘Yes’. You just have to be creative. :)
Try to fit in 1 to 3 more students into your class on average
At first sight, this tip might seem too obvious to make a real difference. But increasing the number of participants per class by a few can really make a huge difference in the long run.
Our yoga studio profit calculator shows it: only three more students per class on average can bring you around €500–€1500 extra revenue per month. Calculate your profit in our Yoga Studio Profit Calculator to see the difference from two or three more participants in your studio.
So find a little extra space and try to fit in a few more people, without reducing the quality of your yoga sessions. Maybe you have a few friends who’ve always wanted to join one of your classes. Convince them to show up today! :)
Increase revenue per student by offering workshops and retreats
The more advanced your students become, the more they want to delve deeper into specific topics and the more they are willing to pay to do this.
Holding weekend workshops in your studio and organizing retreats can be a good opportunity for your students to deepen their knowledge in certain topics. Whether it is handstands, splits, or meditation methods, hold a two-day workshop with them. You may even choose to invite a guest teacher who is skilled in this topic.
Your students will thank you for making this special event possible, and it’s a good way for you to make a few extra Euros. You don’t even have to teach by yourself.
Rent out your location
You’ve most certainly spent a lot of time, effort and of course money in creating your ideal yoga space. This is what makes it so special for your students. But this can also make the space interesting for others too.
Most of the time when you’re not giving classes or when it’s not getting cleaned, your studio will probably be unused. So why not make a few extra Euros by renting out your location to photographers for example?
Photographers are always in need of creating great, new content. So reach out to them and encourage them create content in your location for a little rent. You’ll get a few extra Euros and you might also profit from their reach, which can be a good promo for your studio.
Moreover you could rent out your studio to martial arts or dance class teachers for kids. In contrast to adults who often have to work during the day, kids can train in the afternoon when you’re less likely to offer yoga classes to adults.
Sell yoga equipment or become a brand ambassador
Every yogi needs a yoga mat or fresh yoga pants once in while. So why don’t you sell these items to them?
Many brands offer special, wholesale deals for yoga studios. Google a little bit and look out for the “wholesale section” on their websites. When you’ve found a few brands that fit your yoga studio, ask for their price lists and sales requirements.
Selling yoga equipment requires a little bit of investment upfront and maybe you don’t have the space for all the extra stuff in your studio. So here’s another way to earn a few extra Euros: become a brand ambassador.
A lot of online, yoga stores and brands offer specific discount codes for brand ambassadors and pay a commission for every sale made using it.
This way you can profit from every sale coming through their discount code. And they don’t have to invest upfront or sell it themselves.
Give classes explicitly for yoga beginners
We all know it. Starting yoga can be really tough in the beginning. After sitting at a desk for years, joining a yoga class as a beginner can be very intimidating.
You see all those advanced yogis doing all these nice asanas with ease, while you aren’t even able to stand on one foot properly. That could be a reason why the yoga journeys of beginners often end after their very first lesson.
To not overwhelm your hard-acquired new students, start by giving yoga classes explicitly for yoga beginners. Start with asanas that are easy to master so that they get early success stories that give them a feeling of how beneficial yoga can be when done regularly.
Or try to incorporate yoga props that make hard asanas more accessible to them. The FeetUp® Trainer for example makes inversions as easy as child’s play and is particularly suitable for beginners. New participants will be thrilled by standing upside down so easily. More over, large discounts for yoga studios are available on this product. See how you can benefit here.
As you can see, there are a bunch of different ways to increase the revenue of your yoga studio. You only have to be a little creative and know your numbers. Now it’s your turn! Find the strategy that best fits your studio.
What actions have you taken to increase the revenue of your studio? What worked the best for you? Share your wisdom in the comments!