Yoga Business Plan
Opening your own Yoga Studio providing tuition in the techniques and postures used in the holistic discipline of yoga can be a very rewarding experience for you. Your instructors can offer private tuition as well as contracting out your services to gyms and health clubs.
Yoga is an important part of many lives today. Although it is considered a type of exercise, it has the potential to affect the emotional and psychological health of the individual, not just the physical state. Some people resist trying yoga. This may be because they believe it’s some kind of weird religious thing or that they must change their lifestyle completely.
There are many types of yoga:
- Ashtanga (Power Yoga)
Hatha yoga encompasses all yoga with a physical starting point. All forms of yoga aim to increase flexibility, promote relaxation and stimulate awareness. Yoga has benefited recently from endorsements by some prominent celebrities such as Jennifer Aniston, Madonna, Ricky Martin and Meg Ryan leading to increasing coverage in the media and stimulating the interest of the general public.
While yoga was indeed used in years past mostly by hippies, the practice has evolved into a more mainstream system. All types of people use yoga for its ability to help the physical and mental states. Meditation is also looked at in a similar way. There are many types of meditation. Not all meditation is about reaching “spiritual enlightenment” or using drugs and chanting.
Meditation can also be an extremely useful tool in controlling many physical and mental ailments. It can reduce stress and anxiety, help control panic attacks, ease depression, and much more. Its effects on the mental state can be remarkable, and it is recommended by many doctors as a great way to avoid taking medications.
Hatha yoga is a particular system of Yoga introduced by Yogi Swatmarama, a sage of 15th century India, and compiler of the Hatha Yoga Pradipika. In this treatise Swatmarama introduces Hatha Yoga as 'a stairway to the heights of Raja Yoga', hence a preparatory stage of physical purification that renders the body fit for the practice of higher meditation. It is a strong practice done for purification. In other respects Hatha yoga follows the same principles as the Raaja Yoga of Patanjali including moral restraint yama and spiritual observances niyama. Hatha Yoga is what most people in the West associate with the word "Yoga" and is practiced for mental and physical health throughout the West.
Your Yoga business should feature well-trained, professional instructors, progressive teaching methods, a non-competitive and encouraging atmosphere, and a beautiful light-filled facility.
There are numerous opinions on what the goal of Yoga may be. Goals can range from improving health and fitness, to reaching Moksha.
Within the monist schools of Advaita Vedanta and Shaivism this perfection takes the form of Moksha, which is liberation from all worldly suffering and the cycle of birth and death (Samsara) at which point there is a realization of identity with the Supreme Brahman. For the bhakti schools of Vaishnavism, bhakti or service to Svayam bhagavan itself is the ultimate goal of the yoga process, wherein perfection culminates in an eternal relationship with Vishnu, Rama or Krsna, depending on the affiliation.
Its practitioners believe that restorative yoga positions, or asanas, help relieve the effects of illness and chronic stress in several ways. Firstly, such asanas provide a supportive environment for relaxation. Secondly, each restorative sequence is designed to move the spine in all directions. Thirdly, a well-sequenced restorative practice also includes an inverted pose, which reverses the effects of gravity on blood and lymph fluid, improving heart function. Fourth, restorative yoga alternately stimulates and soothes the organs, improving the exchange of oxygen and waste products across cell membranes.
Yoga practitioners believe the body is permeated with energy, including prana, the masculine energy, which resides above the diaphragm, moves upward, and controls respiration and heart rate; and apana, the feminine energy, which resides below the diaphragm, moves downward, and controls the function of the abdominal organs. Its practitioners believe restorative yoga balances these two aspects of energy so that the practitioner is neither overstimulated nor depleted.
Deep relaxation is taught in each class after completion of the postures. The intention of the instructors is to assist students in the development of physical, mental, and spiritual well-being: a truly priceless health advantage.
Your Yoga studio should offer classes on a regular basis featuring well-trained, professional instructors, progressive teaching methods, a non-competitive and encouraging atmosphere, and a beautiful light-filled facility.
You should also sell workshop clothing and yoga training aides and your Yoga Studio should be dedicated to providing a comprehensive exercise program that motivates people of all ages and all athletic abilities. Because you view each client as a unique individual, you should create an innovative personal program for every person you train.
Through ongoing study, you should keep yourselves on the cutting edge of yoga philosophies and technologies and pass along information to your clients that will enhance and facilitate their workouts, maximize results, and promote better health.
You should do everything possible to help each client achieve his or her personal health / fitness, post-rehabilitation, and/or athletic-performance goals though the utilization and application of systematic scientific principles.
The mission of your Yoga Studio is to give the student, whether a beginner or advanced a place to practice Yoga. You will always act responsibly with the student's interest in mind.
Pursue ideas that you can follow through on in your Yoga Business Plan. If you feel you do not have the means or the drive to take an idea from the drawing board to the real world in your Yoga Business Plan, then scrap it. To help you choose among your ideas, consider each possibility you are looking at carefully. Keep all of your answers and consider any idea is worthy of serious consideration.
After you have assembled a short list of promising ventures to separate the promising ideas from all the others, you need to sort a little further before you select which opportunities to run with in your Yoga Business Plan. No magic wand exists to do the work for you, but you can simplify the task by answering some questions that reveal pretty quickly whether or not an idea has what it takes to become a real, live Yoga Business. If you give your answers some careful thought, they will reveal to you the likelihood of an idea breaking through as your winning business concept in your Yoga Business Plan.
If you find yourself struggling to come up with answers to the questions your idea may be too sketchy to evaluate. That does not mean you should abandon the idea, but you should take the time to understand the opportunity more fully before taking it to the next stage in the Yoga Business Planning process. For example, if you cannot easily describe the customer need you are filling or how you plan to make money in your Yoga Business Plan, you still have homework to do.
What is your good idea? What type of Yoga Business do you want to be in? It is time to look at the specifics.
Answers to these questions will be crucial to the success of your venture and to writing your Yoga Business Plan. You must have a written Yoga Business Plan; even if you are sure you know exactly what your Yoga Business will do.
With your Yoga Business Plan to refer to, you are less likely to forget your good ideas and resolutions in the heat of getting your Yoga Business under way. Any changes you later make can be made both consciously and with consideration.
Writing A Yoga Business Plan
Writing A Yoga Business Plan
Objectives are business goals. Set your market share objectives, sales objectives, and profit objectives in your Yoga Business Plan. Yoga Businesses need to set objectives and plan to achieve them.
Make sure your objectives are concrete and measurable. Be specific, such as achieving a given level of sales or profits, a percentage of gross margin, a growth rate, or a market share. Do not use generalities like “being the best” or “growing rapidly” as your objectives. For example, “being the best” or “maximize customer satisfaction” cannot really be measured. Much better objectives would set measurable goals, such as holding gross margin to 25 percent as a minimum, or selling more than $3 million, or achieving six percent profit on sales and 10 percent return on equity.
If less tangible goals are critical to your Yoga Business Plan you must find a way to measure them. For example, if image and awareness are vital, then plan for statistically valid surveys to measure the improvements in image and awareness. You can also set goals for market share, and purchase research to measure the actual share. Or, if you want to focus on customer satisfaction, plan for a survey to quantify satisfaction or specify numerical objectives regarding returns or complaints.
Most Yoga Businesses are successful to some degree in spite of their management, not because of its behavior. Managers in timid Yoga Businesses get in the way of their own success because they tend to think small, stay in a low-performance comfort zone, and avoid risks. This mediocre behavior is generally acceptable in the average Yoga Business where the “industry average” is the performance benchmark. If an industry average growth is 10 percent, a timid Yoga Business is satisfied with getting close to that mark. Praise and self-congratulations are made for setting and meeting average performance goals. Such self-limiting behavior creates mediocre management.
Thinking small also encourages another destructive behavior. Being conservative is safe, comfortable, and attracts little attention to poor individual performance. Using team-generated, conservative numbers makes it easy for an average performer to hide in the management crowd. With the current emphasis on using teams, it becomes easy for group dynamics to become a screen for limited individual thinking. Bold thinkers stand out in a crowd where the group norm is a safe, conservative approach to business goals. Average thinkers also hide in that same crowd. But the blame for misusing a group doesn’t just rest on the individual. Much of it can be linked to the training and skills of those responsible for creating and leading those management teams.
Seldom do senior managers have the necessary sophisticated group skills to create a total team of bold thinkers. The fine art of group dynamics is not taught as a part of our formal education. The average manager cannot even run an effective meeting, the simplest demonstration of group dynamics skill. Why should we expect managers to be able to orchestrate, with virtuoso ability, the complex and intricate processes of humans interacting in business groups? Without group skills, team mentality at many organizations actually becomes a vehicle to encourage lackluster performance.
Thinking small is an extremely limiting managerial behavior. With few exceptions, most managers today are trained with a numbers mentality that leads to thinking inside a box. Words such as practical, reasonable, and attainable are replete in our business language. Managers brag about making money the old-fashioned way; they earn it one dollar at a time. Executives take pride that their companies are conservative, as if working at less than full potential is a badge of distinction. Reaching for the stars is something relegated to a handful of Yoga Business owners.
Yoga Business Plan
Yoga Business Plan
All Yoga Businesses, whether start-up or growing, will be required to supply prospective financial data. Most of the time, creditors will want to see what you expect your Yoga Business to be able to do within the next five years. Each year's Yoga Business Plan should include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, you should supply monthly or quarterly projections. After that, you can stretch it out to quarterly and / or yearly projections for years 2 through 5.
Make sure that your projections match your funding requests. Creditors will be on the lookout for inconsistencies. It's much better if you catch mistakes before they do. If you have made assumptions in your projections, be sure to summarize what you have assumed. This way, the reader will not be left guessing.
Finally, include a short analysis of your financial information. Include a ratio and trend analysis for all of your financial statements (both historical and prospective). Since pictures speak louder than words, you may want to add graphs of your trend analysis (especially if they are positive) to your Yoga Business Plan.
Great Yoga Businesses do not happen by accident.
They are planned that way!
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