I get many questions like this, and this one was so clearly written and encompassed many of the business questions teachers ask me. Things like:
- What are the best practices for creating a financially sustainable private yoga practice?
- Should I save income from a full-time job and use that as the start-up and operational capital, should I acquire a business loan from a formal entity, or do I need a partner that is willing to support me financially while I grow my practice?
- I want to teach yoga privately for a long time, and I don’t want things to flounder because I started in a direction that was built to fail…what should I do?
After you watch the video let me know what questions you have and I will do a follow up series if folks would like!
Hi Francesca,
That was a very thoughtful and interesting take on starting a private yoga business. In my case, my niche is working with older adults in exercise and yoga classes.. My students are retired mostly and not wealthy, although they do afford to take nice vacations, get their hair and nails done. It seems to me that the cost of hiring a private yoga teacher on a weekly basis is extravagant for the people I see. That is why I find it difficult to ask for more money because I think the potential client must be wealthy and I don’t see those students in my classes. Also, this is why I am not finding new clients. I have just three private yoga clients a week and a personal training client and I would say they are very wealthy so can afford this on a continuous basis, but very few people I think can afford to do this. So, I am wondering how you find students who can afford to take private sessions with you?
Thank you, Robin
Hi Robin,
Thanks so much for this question. In total transparency, this is something I think about a lot, and sometimes struggle with. At the end of the day, private yoga is a luxury service, and only people with enough income to survive (and have some disposal income) are able to afford it. With the unbelievable income inequality that is only getting worse in this country, this means that most people cannot afford it.
All that said, I teach several people who are not wealthy, but whom I met in group classes and they come to me once or twice a month as a very special treat for themselves. Beyond that, being able to afford private yoga is also a matter of value. I have had a student who decided not to go on a nice vacation one year so she could afford to see my every week for several months. I wouldn’t assume the population you are teaching can’t afford private yoga. It might be a very special treat for themselves, but if they are deeply engaged in their practice and seeing immense benefit from it, they might figure out how to afford it. Does that make sense?
Thanks for this, Francesca! Great info. I would add money needed for annual biz license and for annual liability insurance. Also, keep in mind comfort level with meeting with clients in their homes or non-public places. This may or may not be a safe option.
/m
Thanks for adding these Michele! Yes, I agree…teaching in non-public places is not always an option. Since I recommend mostly building a practice by word of mouth I almost never find myself teaching a stranger. That makes going to people’s homes feel better to me.