Ten years ago, mention the word “yoga” and the first thing that comes to most peoples’ minds is that yoga is all about “weird poses” that is part of Eastern mysticism. Now, people have greater awareness of what yoga is and yoga classes are now being taught in gyms, health clubs, county recreation centers, aside from yoga studies or centers.
In fact, yoga is now big business. A survey conducted by the premier yoga magazine called Yoga Journal found that:
- Annual spending of Americans alone on yoga classes, equipment, clothing, media (DVDs, videos, books and magazines), and other products reach $2.95 billion a year.
- In 2005, about 7.5% of U.S. adults, or 16.5 million people, now practice yoga. This is an increase from 5.6% in 2004 and and 43% from 2002.
If you want to join the yoga bandwagon, you can start your own yoga center or become a franchise. Note that this is a business that requires substantial capitalization. Depending on the size of your center, you will need:
- great and relaxing ambiance
- plenty of floor space
- changing rooms separate for men and women
- possibly workshop rooms
- quality instructors (this can make or break your center)
- boutique to sell yoga outfits and equipment (if so desired)
One option could be to franchise. An example of a yoga franchise is the Sunstone Yoga, the cost of which ranges from $147,000 up to $327,000. They offer a cheaper alternative if you simply want to convert your existing yoga center into their system.
For more information on starting a yoga center, check out the following books and articles:
- So You Want to Open a Yoga Center
- The Business of Yoga: How to Start and Grow Your Yoga Business
- USA Today article on the business of yoga
- Yoga Center Business Plan