yoga studio business model? what revenue model?
You stand in the lobby of your studio and wonder what products you should have available to sell to your clients, what is a typical yoga studio business model? Does it matter? Will it make you money? Is it worth the work? My answer is yes, yes and yes”¦as long as you plan carefully.
Building a client-centered retail business that enhances the studio experience as a new business model
First of all, selling products has two purposes. It’s not just about making some extra money for your studio; it’s also about building a connection with your clients and offering them an awesome experience in every way. This will make your clients happy and loyal, and will help your studio be financially successful year-after-year. It’s a win-win for everyone.
Here are the basics on what type of products are perfect to sell in your studio if you are wondering about your revenue model.
The essentials to take class
At every studio there are one or two things that clients need for their classes. By selling these items at your studio, you are providing clients with a convenience and saving them from making a special trip to other retail stores. Items like yoga mats, ToeSox®, water bottles or any other needed accessories are perfect to stock and sell.
Your non-moneymaking objective:
Providing a convenience and making the studio experience easier.
Studio branded apparel.
Offer at least one studio branded clothing item that clients can wear with pride! Clients leave class feeling good and loving your studio every week and will be excited to purchase a t-shirt or tank that tells the world what they love to do and where they love to go.
Your non-moneymaking objective:
Building a connection with your clients and gaining awareness in your community.
At-home props and accessories.
Pick your favorite props to get clients moving at home, strengthening AND stretching! The more that clients integrate exercise into their DAILY life, the more committed they will be (to exercise in general AND their classes at your studio) and the better results they will see. Often, financial limitations keep clients from taking the best yoga teacher training online as frequently as they should be exercising, so adding an at-home or away-from-the-studio routine is tremendously valuable.
Also Read>>> Best Online Yoga Classes
Your non-moneymaking objective:
Helping clients incorporate exercise in their daily life.
Learning materials.
There is only so much we can teach and tell clients during their time with us so why not give them the opportunity to learn more at home? Offer only your utmost favorite and highly-recommended fitness book(s), magazine(s) and/or video(s).
Your non-moneymaking objective:
Inspiring and educating clients to be committed to their exercise program.
Is there anything you shouldn’t sell? Yes. Don’t sell any products or services unrelated to fitness. It detracts from your studio’s main purpose and more so, can make your business look bad to your clients. Selling non-fitness related items gives clients the impression that your studio is not focused and is not making enough money from your main services.
It can also look like you’ll do or sell anything to your clients to make a few bucks and that may cause you to lose your clients’ trust when it comes to recommending they try or purchase other things at your studio. So steer clear of unrelated items and keep your studio focused on what you do best!
Finally, when it comes to selling products at your studio, make it as EASY on yourself as possible.
1. Keep your selection lean.
Resist the temptation to offer lots of different props or t-shirts in every color. Just stick to the best and most popular items. Minimize special order requests and try to keep items in stock so they are always available for instant purchase (vs. waiting for the next shipment to come in).
2. Develop a simple system for re-ordering.
Mark it on your calendar, assign inventory to your studio receptionist, set-up auto replenishment or figure out whatever system works best for you. Just make it as turnkey as possible.
Selling products in your studio can be fun and rewarding for both clients and you. It’s tremendously exciting to watch clients go home with new props and hear how they are using them more on a weekly basis. You’ll even hear that your clients are getting their family members moving too!
To depart
Your retail area will entice clients to get more involved with their practice, interact more at your studio and even foster camaraderie among clients as they provide each other with product recommendations. And the additional revenue brought in by your retail sales will help fuel your studio growth and development for many more years to come!
Business Training for Fitness Studios – danaauriemma.com
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