I’ve attended two 200 hour Yoga Teacher Trainings plus trainings towards my 500, several workshops, I teach and interact with my clients, and I mingle with other yogis quite often. Quite a few of us dream about having our own studio where we could be our own boss and actually teach what we are passionate about in a world without workplace politics. Sometimes, my students encourage me to have a space outside of the gym which was really pronounced in 2013 during all the not so fun furloughs.
I’m a dreamer too.
I’ve been dreaming about being an owner/instructor for several years now. Oh, I’d talk about having a studio for hours with some of my yogi friends. (They know who they are). But months and years would go by and no studio of my own. (I know, I know).
Recently, I met some other yogis who had the same dreams as I. This time it was different! They were willing to invest in the time, research, and money. Finally!
So as you may have guessed, I’ve partnered with some yogis to open up a new studio hopefully in the near future. I say “hopefully” because there is a lot of preliminary work one must do before you even consider opening doors. I am learning this big time! WOW!
So 30 days into our yoga studio project, we have the following milestones:
1. A lot of talking and brainstorming. I think it is important to make sure we are all similar in mindsets. This goes on all the time.
2. A Studio Name and Mission Statement. Our name and mission statement compliment each other. (I won’t reveal it yet). It took us a little bit of time to come up with this. I keep asking myself with every task or thing I do; “Does this support my mission statement?” It’s a great question to ask yourself as it keeps you focused.
3. Filed with Colorado Secretary of State Department to establish our business as a “Limited Liability Company” or LLC. (I personally thought the website was very self explanatory and the process for pretty painless). This is an important first step.
4. We then picked a platform to host our website. (Our website is still under construction, but I am happy about its progress). Oh, the stuff to think about putting on your site!?!?
5. We hit up all the social media sites we could think of and created a business profile with them. This has been kind of fun and they are FREE!
6. We’ve had a photo shoot with all of us doing yoga poses. These will be used on our website as well as social media sites. We don’t want to use those generic people you find online. (I’m looking forward to seeing how they turned out).
7. Then the necessary stuff like a Post Office Box, joint bank account, and a means to collect money. (Eventually, we do want to make money).
8. We’ve also have done some fun stuff like buy our first mats. Explore Pinterest for ideas.
9. We’ve signed up for continuing training which supports our mission statement. Now, waiting for the training to come. Soon!
10. Currently, we are narrowing down a cool logo and are scouting out potential real estate locations. And of course, documenting everything as we go.
11. We are still working on establishing a business plan which in my opinion is kind of hard. And there of course is more legal paperwork to establish and file. But…all necessary evils.
12. We are also looking into studio operational software. Which one should we use?
I have a multitude of emotions/states I’m going through…excitement, fear, panic, pride, curiosity, frustration, pain, anger… You name it. Oh, and things cost money and right now its a lot of nickel and diming. I keep reminding myself that anything worth having isn’t easy! One of my partners repeatedly says that you have to spend money to make money.
I have a ton of questions. The biggest one is am I and my partners doing this right? (It would be cool if there was a easy to follow checklist. I haven’t found one yet).
I wanted to start to document the journey as we go. I know so much will happen and after we are well established, there will be someone who asks me how they should go about starting a yoga studio/business. I don’t want to forget.
Those of you who’ve done it, I’d love to chat with you. Any advise? Things you wish you knew then that you now know? How was your journey?
So many questions…