How to Write a Yoga Studio Business Plan + Free Sample Plan PDF

Author: Elon Glucklich

Elon Glucklich

Elon Glucklich

6 min. read

Updated April 3, 2024

Free Download: Sample Yoga Studio Business Plan Template

Yoga’s popularity is surging. With more adults focused on personal wellness, the physical and mental benefits of yoga have attracted over 36 million people in the U.S. to practice yoga regularly. And the trend has created a growing market for dedicated yogis with an entrepreneurial streak to turn their passion into a thriving business.

But running a successful yoga studio requires more than knowledge of the craft. A business plan helps you document all the important decisions and key details you’ll need to cover to be successful. It organizes your research, and gets you to think strategically about the impact of everything from your studio location to class pricing.

It’s also crucial if you’re seeking a bank loan or other source of outside funding. Lenders and investors will want to see a clear plan before committing resources to your studio.

What should you include in a yoga studio business plan?

No two yoga studios are alike. But there are a few sections we recommend including in your yoga studio business plan, no matter what your vision is:

  • Executive summary
  • Products and services
  • Market analysis
  • Marketing and sales plan
  • Financial plan

If you’re looking for a bank loan or investment to fund your studio, it’s a safe bet to follow a traditional structure when writing your business plan. Otherwise, just focus on the sections you feel are relevant.

Executive summary

The executive summary introduces your vision and sets the tone for the rest of your business plan. Your executive summary shouldn’t run over 1-2 pages and should be written last, since it summarizes the entire plan.

A reader should understand the essence of your business from this section alone. Does your yoga studio provide a haven for stressed urbanites of all ability levels? Do you cater to yoga enthusiasts by offering advanced classes? Briefly describe the problem you solve for clients.

Then, outline your studio’s focus. Describe any unique programs you offer, such as:

  • Workshops
  • Mindfulness programs
  • Flexibility classes for athletes
  • Restorative sessions for people recovering from injuries. 

You should also briefly touch on who your target market is, and why your yoga studio is uniquely positioned to attract them.

Products and services

The products and services section of your business plan lays out your revenue streams. Start with your core offerings: What yoga classes do you offer? 

Besides the basics — Vinyasa, Gatha, restorative, etc. — emphasize the expertise of your instructors, as well as any specialties you offer, like beginner-focused or prenatal classes. You should also describe your class structure and pricing options, such as:

  • Drop-in
  • Memberships
  • Class packages

In addition to classes, look at related products or services you might be able to turn into revenue streams. They could include:

  • Yoga apparel, equipment, and wellness products
  • Workshops and teacher training
  • Online classes and retreats

Market analysis

Understanding your customers is key to running a profitable business. 

You need to create a portrait of your ideal client before you can develop effective strategies for reaching them. Your market analysis is where you document the demographic and behavioral traits of your target customers.

Your actual customer mix may vary, but do you generally envision serving:

  • Young professionals
  • Parents
  • Active seniors

What about location and income level? Based on where your studio is located and who your ideal clients are, do you emphasize affordability or a premium experience?

You should also consider the lifestyle factors, values, and motivations of your customers. What’s most important for your customers when they come into your studio? Is it:

  • A strenuous workout
  • Stress relief
  • Spiritual well being
  • Physical rehabilitation

You also need to size up your competition. Note the strengths and weaknesses of other yoga studios, gyms, meditation centers, and online classes. Compare their services and pricing to your own.

Understanding how you stack up will focus your market research and help you hone in on your competitive advantage as you develop your marketing strategy.

Marketing and sales plan

This section explains how you will spread the word about your studio, and turn potential customers into paying clients.

Your market research should have helped you create a picture of your ideal customer. Now, describe your marketing strategies for reaching them.

Social media is a powerful medium for connecting with your community of yoga enthusiasts. You can post inspiring messages and engaging videos to showcase your studio and classes on channels like Instagram, TikTok, and Facebook. Consider targeted social media ads as well.

Beyond social media, consider marketing tactics like:

  • Posting engaging videos and inspiring messages on your social media channels
  • Buying digital or print advertisements
  • Writing blog posts and creating videos for your website to highlight your expertise
  • Forming partnerships with local wellness-focused businesses
  • Holding special promotions like free classes at community events

While your marketing strategy aims to increase awareness of your yoga studio, your sales plan describes how you will translate this attention into revenue for your business.

Explain in your plan how you enroll customers, and whether you offer flexible options like paying on a per-class basis, or require memberships. Describe whether you provide any special offers like free or discounted trial classes, or incentives for current members who refer friends.

It’s important to remember that none of these tactics should be set in stone. A business plan is meant to evolve with your business, and you should be testing your marketing and sales strategies, determine what’s working and adjust accordingly.

Financial Plan

The financial section of your business plan can seem daunting, but it’s not as complicated as it sounds. All businesses have to track their sales and expenses, and creating a financial plan involves using those figures to project how your business will perform, and whether you will be profitable. 

Let’s break down the components of a financial plan.

Sales forecast: Project your revenue based on class attendance, memberships, retail sales, workshops, and any other income sources. Be realistic, especially in the beginning.

Expense Budget: List all of your costs, including:

  • Rent and utilities
  • Instructor pay
  • Yoga supplies and equipment:
  • Cleaning supplies
  • Marketing expenses

Profit & Loss (P&L): Your income after expenses are taken out, showing if you’re generating a profit.

Cash flow statement: Key for managing your yoga studio from day to day, it predicts how much cash you have on hand at any time to ensure you can pay instructors and bills.

Balance Sheet: An overview of your studip’s financial standing, listing assets (cash, equipment), liabilities (any loans), and the owner’s equity in the business.

Startup costs: If you’re writing a business plan because you’re seeking a bank loan to start or expand your yoga studio, detail expenses like studio build-out, equipment purchases, and initial marketing.

Be upfront about any predictions in your sales forecast, such as the number of clients you expect to serve and how much revenue you’ll bring in if you add classes or increase prices (researching financial data for yoga studios will be helpful here). Remember, these projections are basically educated guesses, and they’re meant to be updated over time as you run your business and get actual data.

Download your free yoga studio sample business plan

Download our yoga studio sample business plan for free right now to help you beat writer’s block and get started on your own business plan. You can copy and paste sections from the sample plan and customize them for your business.

Check out our other fitness and beauty sample business plans as well, or browse from the full Bplans collection of over 550 sample business plans to get inspired.

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Content Author: Elon Glucklich

Elon is a marketing specialist at Palo Alto Software, working with consultants, accountants, business instructors and others who use LivePlan at scale. He has a bachelor's degree in journalism and an MBA from the University of Oregon.