Seven Questions to Ask Before You Open a Yoga Studio

By Lynn Burgess, MBA, RYT

2002 Woman Entrepreneurial Excellence Award Winner

Owning your own business is the American dream. However, many people fall victim to a disastrous assumption. They assume that if they know how to teach yoga, they know how to run a yoga business. That is, most people assume that they are immediately and eminently qualified to run a business that teaches yoga, simply because they understand the technical aspects of teaching yoga. It's simply not true. The technical work of a business and the teaching of yoga are two different things! If you believe that opening your own studio is the opportunity to have more more chances to teach, more money than you are currently earning, and more freedom to come and go then you are in for a shock that might eventually consume both you and your business. To build a business that actually works, you have to learn how to run a business. Here are seven questions to ask before creating a sacred space of business:

1.  Do I know how to run a business? If the answer is no, you'll learn about critical concepts such as cash flow the hard way. Financial statements, profit and loss reports, and other financial documents take on new importance when you are the owner.

2. Am I willing to sell more than teach? Yoga is a growing practice in America. However, in a crowded marketplace, you'll need to be comfortable selling yourself and your business.

3. Do I have money to invest up front? Successful studio owners know that it takes money to make money. In addition to the usual start-up expenses, be prepared to spend money up front for everything from marketing to mirrors to utility deposits. It all adds up in a hurry.

4. Do I have what it takes to weather out the ebbs and flows? Many yoga businesses experience peaks and valleys, so don't count on constant revenue. You'll need cash reserves until your studio builds critical mass and takes off. During the lean times, it's easy to view the natural ebb of your business as a failure. Your ability to persist in the face of any setback is the key to your success.

5. Do I understand how my life is going to be affected during the infancy phase of my business? During infancy, it's not unusual to find yourself at the end of an unbelievably hectic week, late on a Sunday night, pouring over the books, thinking about all of the work you didn't get done this week, and all of the work waiting for you next week. In the beginning, the business is your life. Be prepared for how this will affect your personal life.

6. How much am I willing to do pro bono? Many teachers do lots of things to promote their business, including free talks, free demonstrations, and free articles. Part of your marketing mix should involve doing pro bono work to get your classes and programs visible to the public. Unless you are well-known, be prepared to give before you get.

7. Am I willing to invest in professional development? Remember the old saying: Lawyers who represent themselves have fools for clients. The same concept applies to teachers who consult and teach themselves. The best teachers know they must continually work on their style and their classes. The best business owners know they must continually work on their business strategy. Be prepared to pay for expert help (from lawyers, accountants, and business advisors) on an ongoing basis.

Where to find help:

1. SCORE Counselors to America's Small Business is a nonprofit association dedicated to providing free, confidential face-to-face and email business counseling, mentoring and training.

2. Private business coaches

3. Many state colleges offer Small Business Development Centers which can assist you with entrepreneurial issues and ways to grow your business.

The Bottom Line To make your business successful, you'll need to be smart about your time and resources. You have to be committed to the process and not hinge your well-being on results. If you decide to open your own studio, make sure you have what it takes to stay. Attitude and perseverance are half the battle. You can get past being a hobby business owner if you treat your business like a business from day one. A Path to Freedom In his book, Man's Search for Himself, Rollo May said Freedom is not just the matter of saying Yes' or No' to a specific decision: it is the power to mold and create ourselves. Freedom is the capacity to become what we truly are. If you choose to become a studio owner, it's a given that the path will wind around corners that will amaze and even shock you. It will be anything but certain, and that's why it is so exciting!

Lynn Burgess, M.B.A., R.Y.T, founder of Yoga from the Heart, leads classes from beginner to advanced at her studio in Sarasota, FL. She provides teacher training, coaching, and consulting to studio owners throughout the U.S. and travels nationally, sharing her program, Performance Under Pressure: Body-Mind Solutions for Increased Productivity and Effectiveness with corporate America. To contact Lynn, phone 941-929.9878; fax 941-371-1854; email lynnburgess@ comcast.net; or on the web at www.yogafromtheheart.com.

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