The yoga industry has been gradually growing since its start. In fact, according to Vaishwi Sinha, as of 2022, the industry generated a revenue of around 9.09 billion dollars annually. Therefore, opening a hot yoga studio is a lucrative business idea if you have a passion for health and wellness and hope to earn from it. However, just like any other business, you need a well-thought-out strategy for building and running your yoga studio.
1. Secure Financing
Financing is one of the most important factors to consider when figuring out how to build your own hot yoga studio. As much as becoming your boss can be exciting, be practical with all your financial decisions. It’s important to have a budget before you secure new construction loans or any other financing you require. Budgeting will help you have a clear picture of future expenses you can anticipate, serving as a guide to reach your business goals.
After you’ve drafted a practical budget and feel you’re ready to source the money you need, go for it. There are different ways to finance your yoga business. However, you must consider some factors before settling for a specific way.
If you choose to get financing from a money lending facility such as a bank, consider the interest the loan will attract. Source the market for the bank with the most reasonable interest rates to get the best deal. You may also consider getting financing from friends or family, but remember doing so may create uncomfortable situations that could create rifts. Instead, you can opt for crowd-financing campaigns to raise your needed funds.
2. Install Lots for Equipment Storage
After securing the money you need to start your hot yoga studio, the next step is getting all the necessary equipment. Various hot yoga equipment are available in the market, and each is created differently. Some are bigger and more expensive than others.
You can buy or lease equipment, depending on your secured money. Regardless of how you acquire your equipment, consider investing in lots that’ll allow you to keep a storage container to ensure their safekeeping. You may also install a custom closet where your students can store their yoga outfits.
3. Invest in Your HVAC System
When clients walk into a hot yoga studio, they want to unwind and relax. The last thing they expect is to be locked up in a room with poor ventilation. Therefore, investing in an HVAC system is an important consideration when thinking about how to build your own hot yoga studio. Bikram Choudhury launched hot yoga over 40 years ago, and according to Elaina, the idea behind it is to mimic the temperatures in Calcutta, India, where it originated.
An air conditioning installation will help to ensure a balance between the temperature and the humidity in the air; according to Engineered Systems, a hot yoga room should ideally be at 105 degrees Fahrenheit and 40% humidity. This ensures students sweat and release toxins from their bodies right away. The hot and humid temperatures will also help relax muscles, reducing the chances of injuries as the students stretch.
4. Create Beautiful Bathrooms
It is no secret creating the perfect ambiance can give you return business. Therefore, when thinking of how to build your own hot yoga studio, it’s important to create an aesthetically pleasing space. From the moment students walk into your hot yoga studio, they should feel like they have entered into a space where they can finally put all their worries to rest. The good thing is a few remodels can go a long way in creating the right ambiance.
For example, you can consider a bathroom remodeling. After an intense hot yoga session, there’s no need for your students to head back home to take a shower. If you have a bathroom in your studio, they can quickly jump in for a shower before they go about their business.
Remember you want to create a memorable experience. Therefore, you want to contract local plumbers to help transform your bathroom. A few additions that will help improve the ambiance in your yoga bathroom include installing new light fixtures, using aromas, and burning incense.
5. Design a Chic Interior
Design is a very important consideration when thinking of how to build your own hot yoga studio. The idea is to create a space without distractions to allow students to relax and unwind peacefully. According to IBISWorld, there are 48547 yoga and Pilates studios. So, to stand out from the rest of the competition, you need to create a unique design to attract more students. Consider working with a professional interior designer to help create an ideal space.
If you are working with limited space, installing large windows will make your space feel bigger and allow natural light into the studio. According to Genny Wilkinson Priest, a studio with ample natural light creates a calm and peaceful environment for the students. If your studio is in a high-traffic area, you may need to hire a contractor from a blind company to help install window blinds that keep out prying eyes while still allowing light to pass through.
Choosing the right floors for your yoga studio is also important. Your students will sweat in your studio, and some sweat may drip to the floors. The last thing you want is for your students to slip and injure themselves. Therefore, consider installing non-slip floors throughout the studio. You can also install acoustic panels to help reduce external noise distractions.
6. Make Your Exterior Stylish
First impressions matter. As much as you have taken your time to create a perfect interior design for your hot yoga studio, don’t forget to step outside and do the same for the exterior. You can do many things to create a stylish exterior, but start with the landscape. The landscape is the first thing that catches a client’s eye at first glance. You want to ensure it is well-maintained and not out of control.
So, as you think about how to build your own hot yoga studio, consider hiring a landscaper to help design your exterior. They can help trim grass, sweep pathways, pick up leaves, and trim trees. Also, don’t forget to maintain your parking lot by ensuring there is no trash lying around and that all parking lines are visible at all times.
After the landscape, think about the building structure itself. What is the state of the roof and walls? The roof is an important part of the building structure as it will help keep your students safe and protected in class. It’s, therefore, important to ensure your roof is always in working condition. If you have gutters, remove any debris that could cause a clog.
You should also keep up with the maintenance of your building’s walls; instead of painting them, you may want to consider applying stucco. Stucco is more versatile, durable, and easy to maintain than painting. Source around for a local stucco contractor who can help bring your vision to fruition.
7. Offer Classes for All Ages
Yoga involves gentle movements; everybody can benefit from a yoga class. It aids in the holistic development and well-being of a person. As a business, offering yoga to people of all ages increases your chances of generating more income. When drafting a plan for how to build your own hot yoga studio, it’s important to consider all your potential clients, including preschool kids, teenagers, adults, and senior citizens. Offering yoga to all people allows families to spend quality time together, strengthen relationships, and create positive vibes in the home.
However, according to Becky Upham, hot yoga may not be safe for everyone, different health complications could make hot yoga risky. For example, if you have a high fever, a hot yoga session could cause hypothermia, resulting in organ system failure. Pregnant women and people with certain heart conditions should consider other yoga options. Before allowing people to enroll in hot yoga, advise them to check with their doctors to see if their bodies can physically handle the heat.
8. Get Your House in Order
Before you open your doors to allow students into your studio, you must get your house in order. Not only do you need to ensure you are financially ready to run your business, but you’ll also need to be legally prepared. If you choose to get into business as a sole proprietor, you need to register yourself as a yoga teacher. Doing this will help ensure you comply with your tax obligation; depending on the state your studio is in, go through your government’s website to determine the process to follow.
Insurance is another important factor to consider when considering how to build your own hot yoga studio. The truth is, even after ensuring all safety measures are in place, accidents still happen. As a business owner, you must ensure you are well prepared when they do. The best way to do that is by purchasing an insurance policy; your policy should cover any damages to your equipment, natural calamities, and injuries your students may suffer. In doing so, you avoid any legal issues arising from lawsuits.
9. Create Your Company Website
Most students will often go online to look through different yoga websites before choosing to enroll in one, therefore, it’s important to ensure you have an online presence as you think of how to build your own hot yoga studio. If there is anything the pandemic taught us, you don’t have to be present to attend classes physically. Through your website, you can virtually attend to students across the globe and generate more revenue for your business.
From the website, potential students get to know the physical location of your studio and decide whether or not to enroll, which can also take place online. They also get to see customer reviews of your studio, which may include pictures. As a business owner, you can take advantage of your website by providing links to other social media accounts to generate more traffic.
Remember, your company website is the first point of contact with potential and existing students. Therefore, it is important to ensure you create a website that grabs the attention of everyone who visits the platform. Use bright colors, beautiful pictures, and different font styles to capture visitors’ attention. If you don’t have the skills to create the website and your budget allows it, hire a qualified website designer to help you.
10. Build a Customer Base
Building a customer base is one of the most important parts of how to build your own hot yoga studio; more customers equals more revenue. Naturally, people tend to be loyal to people they feel connected with; therefore, as you think of how to build your hot yoga studio, you should prioritize creating strong bonds with your students. Think about it. How would you feel if your gym instructor didn’t recognize you after months of training?
It would make you feel like it doesn’t matter to them if you show up for a session or not, right? As you run your studio, make sure you treat your students in the best way possible. If, for example, you have a student who is finding it difficult to sit through an entire session, provide personal help and give them tips in a friendly manner. If, after a few trials, they manage to catch up with the rest of the students, commend them for a job well done.
It would also help to memorize their names and have personalized conversations with them. This will make them feel that you genuinely care about their well-being, and they not only will keep coming for more classes, but before you know it, they’ll become your studio’s unpaid ambassadors. Treat your clients how you’d like another yoga instructor to treat you when considering how to build your own hot yoga studio.
The demand for hot yoga has never been higher than it is now. More people are realizing its benefits, including its ability to burn calories, promote heart health, and help with depression symptoms. So, you at least won’t have to do much convincing.
That’s not to say the journey towards building a successful hot yoga studio isn’t challenging. However, with proper planning and following the above tips, you’ll overcome most hurdles that may come your way. You can do it!
