If you are dreaming of opening your own yoga studio in New Zealand, it’s important to bear in mind that succeeding long-term as a yoga small business owner requires that you possess two keenly developed skill sets.
It goes without saying that you will need to have studied the art of yoga teaching and have attained a formally recognised yoga teaching qualification. You would also benefit from having some hands-on yoga teaching experience before launching your own yoga studio.
But you also need to be confident at managing and growing a small business, which requires a broad range of business and admin skills, including, but not limited to:
Financial management.
- Project management.
- Strategic planning.
- Communication and negotiation.
- Problem solving.
- Delegation and time management.
- Business risk management.
Define your yoga brand
Every business can benefit from having a great brand story. What will your brand story be? Why are you teaching yoga? Where have you come from? Where are you going? Where does your deep-seated connection to yoga come from and why do you feel compelled to teach yoga?
Once you’ve put considered thought to these questions, you’re ready to craft the authentic and unique story around your yoga brand. Include answers to questions such as:
- What attracted you to yoga as a student?
- How long have you been practicing yoga?
- What has yoga taught you about yourself?
- Why do you teach yoga?
- What is your style and approach to yoga instructions?
- What makes your yoga service unique?
Finally, show your yoga brand story to your yoga mentor if you have one and ask for their constructive feedback. Then, show it to someone who has an interest in learning yoga and ask for their input. Once you’re happy with your yoga brand story, make it the foundation of your messaging across all of the marketing you do to promote your yoga studio and yoga teaching.
Seek the help of others
Being a yoga teacher and being a small business owner require two very different skill sets. Whether you are opening up your new yoga studio in Auckland, Wellington, Hamilton, Rotorua, or Invercargill, you and your yoga business will benefit from having some support. Think of these costs as an investment in your business, not just a business expense. After all, there’s only so much you can do on your own.
Hiring an administration assistant who doubles as your receptionist and customer service representative is a great place to start, whether you employ them on a casual, part-time, or full-time basis. If they have an interest in yoga, they may even join your teaching staff in due course.
Beyond such day to day operational help though, new and existing yoga studio operators will benefit from working with business professionals such as tax accountants, a small business marketing professional, a lawyer, and a business advisor who, among other advice, can help you with your business insurance, including yoga insurance, which is uniquely designed to protect against the risks to yoga businesses. In time you may take on some of these tasks yourself, especially if you’ve had some MBA training.
Define your yoga niche
The reality is your yoga business can’t be everything to everyone, so a key business tip for yoga studio operators such as yourself is to decide who you want to attract and convert to customers. There are many layers to defining your service offering, but the first and most important step is deciding who you want to target and convert into loyal customers. Identifying and embracing a well-defined niche is a fantastic way to do just that.
When you define your yoga niche, your yoga business will benefit because you will:
- Clearly stand out against your competition.
- Have clear and specifically defined marketing messaging that targets your specific niche.
- Gain more satisfaction from your work – because you’re teaching what you want to teach.
- Enjoy customer loyalty from individuals who have sought you out for your specific niche yoga expertise.
Network, network, network
No small business owner anywhere has built a successful business in total isolation, which is why networking and building mutually beneficial working relationships is important. It’s all about championing your yoga business – not just to your customers, but also within the yoga instruction industry – and learning from the industry veterans in your area.
Building a network of strategic industry partnerships will help move your business in the right direction. Yoga instructors can learn so much from sharing knowledge and advice with their yoga peers; this will be especially handy if you are new to yoga teaching, new to running a small business, or both.
The more you grow your yoga industry network, the greater access you’ll have to new clients and future business collaborations. And arguably most importantly, you gain a wealth of industry knowledge – and in the process perhaps also a yoga mentor.
Stay a student of yoga
Our last piece of advice for yoga instructors operating their own yoga studio in New Zealand is to remain a passionate and diligent student of yoga. Carving out the time to roll out your own mat for your own daily yoga session will help bring focus and clarity to your day and to your approach to teaching yoga to others. If you don’t make time to practice yoga for yourself it can be difficult to authentically translate your experience to your students.
Keep at it – it’s worth it
Owning and operating your own business takes sincere effort, hard-work and time. It’s not for the faint of heart – as riding the ups and downs can be difficult on your own. But keep at it – because you can’t put a price on doing what you love for a living.
Wherever you operate from in New Zealand, as you build up your yoga business you will want to ensure its future by guarding against risks. A great way to do that is to invest in business insurance such as insurance for yoga teachers*. BizCover works with yoga instructors throughout New Zealand to help them secure their yoga insurance quickly and easily, without the drama. Get a quote for insurance for yoga teachers today.
*This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. © 2022 BizCover Pty Limited, all rights reserved. BizCover Limited is owned by BizCover Pty Ltd (ABN 68 127 707 975)
