Profit in your Yoga or Pilates studio is critical to your success. It takes more than setting up a brick and mortar studio to stay in business and be profitable. In some areas, there is a lot of competition – with as many as three to four studios on the same block. It’s important to focus on how your studio differentiates itself from the one down the street. Are you instructing with a different methodology, different class size, teaching for a skill set, have unique hours? Whatever it is, you need to find your niche and promote it. Here are the 10 most important strategies from our industry experts that will assist your studio to thrive!
10. To prevent your studio from getting stuck on a plateau, keep abreast of forming trends and stay on the forefront of introducing the trends into your studio. Today that means blending barre with Yoga or a Pilates reformer. Gail Bannister-Munn, www.gailbannistermunn.com
9. Good website presentation is key! Many are trying to sell Chanel quality services through poorly designed websites, flyers or brochures. Make sure your website has good search engine optimization, is bright and colorful with a modern design. Anastasiya Goers, www.pilatesbridge.com
8. Identify your clients/audience, be as narrow as you can. Target to your niche audience and don’t try and be something for everyone. Alisa Wyatt, www.pilatesology.com
7. As a business owner, you should be willing to be a student of business. It is just as important, if not more important, to seek out a business mentor as it is a mentor for Pilates or yoga instruction. Lindsay Lopez, www.formpilates.com
6. Set your staff up for success! Invest in your employees with regular professional education and client service training. Offer the opportunity for career progression within your studio and involve your team in the growth and development of your business. Seran Glanfield, www.springthree.com
5. Allow your story and personality to sell your business services. Products can be purchased from anywhere, but what speaks to me about your story will have me going to your business over theirs. Ana Cabán, www.anacaban.com and www.maddogg.com
4. All relationships with clients need to be personal – give personalized service, make sure you say “hi” when you see them, return their calls and emails, promptly – so they realize they are a special part of your studio. Elaine Ewing, www.rhinebeckpilates.com
3. Hiring an employee with the right personality is much more valuable than the person’s training. If the individual has a good personality, is committed to learning and able to challenge themselves, you can always work with them on the teaching. Victoria Torrie-Capan, www.pilateson66.com
2. Find an area in your field that is currently underpopulated and focus on filling that segment. Gia Calhoun, www.pilatesanytime.com
1. We have to remember that we can’t help people with our passion for “the work” if we can’t stay in business! Make sure you know your numbers so sound decisions can be made. If it does not come naturally, hire a good person to help! Meghan Del Prete, www.reformyourbody.com
The common thread among these experts is: know yourself and your area of expertise, carefully consider and manage your growth, keep your online image and marketing current and don’t be afraid to ask for help or outsource specific areas of your business. Remember that you are an “employee” of the studio, too. You need to be paid for your services, and the studio needs to be profitable. May your year be successful!
Article by: Linda Brown is President of Spire Business, Inc. a firm that specializes in Profit Improvement in the Yoga and Pilates industries.
Spire Business is a certified Master member of Profit First Professionals and has developed specific methodologies that help Yoga and Pilates studios achieve higher levels of profitability and financial stability. Contact us for a free consultation by emailing us at email@example.com.