It is quite hard to have an accurate amount needed to open a yoga studio from ground up. To give you an example, if you are eyeing for a studio that is packed with state-of-the-art equipment and other premium facilities, then you should be ready to fork out at least 500,000 to a million dollars. On the other hand, for small and more basic facilities, 15,000 to 100,000 dollars would be enough.
Initial Expense of Opening a Yoga Studio
Additionally, the location and size of the studio are the two other major factors that would affect pricing.
Expenses of your business can add up long before you know it. So to prepare you for whatever that may come up, here are initial investments you must have sufficient budget with:
- Legal expenses
- Business registration
- Utility deposits
- Leasing or buying a location
- Marketing promotions
- Remodeling the space
- Member management software
- Employee wages
- Building and hosting a website
- Grand opening party
What to Know before Opening Your Own Studio?
It doesn’t matter if you have a business plan already for your yoga studio or thinking of opening one, it is imperative to do your research. Check out forum sites related to your concern or you can even ask some friends or family members on suggestions that they can give. Perhaps, because of your excitement, you may have overlooked elements that play a critical role in your startup.