Making a Successful Business Out of Yoga Is Possible
I am sure you are familiar with the concept of never working a day in your life by doing something you love. I’m not sure I buy the sentiment 100%, but I personally know people who have made successful businesses out of the very things they love to do. Take yoga. It’s not just an exercise in personal growth and meditation. A person can make a successful business out of it.
International yoga educator and transformational retreat leader Scott Moore is living proof. Yoga nidra is his passion. It is also his livelihood. From yoga nidra classes to leading retreats to acting as a mentor to other yoga instructors, the thing he loves most also puts food on his table. It’s the perfect setup for him.
Multiple Business Models
Perhaps the biggest challenge for the new entrepreneur is figuring out a business model. Here is the good news: making yoga a business isn’t tied to a single, inflexible model. Yoga entrepreneurs have multiple models to choose from. Here are just three examples:
Studio Classes – An entrepreneur can set up a studio where she teaches classes in an intimate setting. Classes can consist of just one or two students or accommodate ten or more. If an entrepreneur desires, a specialized studio that focuses on a particular type of yoga can prove locally popular.
Mobile Classes – Since the onset of the COVID pandemic, we’ve seen more yoga instructors take their classes outdoors. They offer mobile classes that meet in parks, on the beach, etc. Mobile classes can even be conducted in a student’s home.
Retreats and Workshops – There are those entrepreneurs who focused less on consumer-oriented classes and more on conducting retreats and workshops for other teachers. They pass on their knowledge and experience in both yoga and business management.
As an entrepreneur, you could choose any established business model or come up with something unique that’s all your own. Truly, the door is wide open. You just need to find a way to use what you know to help other people, then build a business around it.
Revenue Diversification Can Help
Regardless of one’s chosen business model, the reality of business dictates that customers will not always be available. For example, yoga instructors have slow seasons when students are not signing up. It’s the nature of the beast. But a yoga business can still earn money in other ways.
Revenue diversification is the key to making it work. In addition to teaching classes, a yoga instructor could develop a line of branded apparel and accessories. A yoga business mentor could offer online training, support videos, and a variety of subscription-based content. Yoga entrepreneurs could even work out affiliate partnerships with wellness brands, travel agencies, etc. for the purposes of cross-promotion.
The idea here is to look beyond the immediate service you provide. If your bread and butter is teaching classes, think of other ways you can bring in passive income. If your main priority is conducting retreats and workshops, are there subscription opportunities you could introduce to participants?
Don’t Forget the Marketing
Supporting everything you do as a yoga entrepreneur is marketing. The truth is that very few businesses survive without concrete marketing efforts. So if marketing is not something you’re good at, it’s worth investing in paid marketing services. People needs to know your business exists before they can buy from you. Marketing gets the word out.
Yes, your love of yoga can be turned into a successful business. Doing so would give you the opportunity to earn a living doing what you love. It is an opportunity most people don’t get.
