How To Make Your Yoga Business Successful
As the health and wellness industry is expanding in India, Indian wellness franchisors could be seen focusing on yoga, promoting healthier lifestyles among the citizens. Yoga is an ancient Indian practice encompassing mental, physical, and spiritual wellness that has become an important trend in the current health and wellness industry.
As a matter of fact that stress and diseases are constantly increasing in today’s Indian population, wellness franchisors could be seen investing more in the yoga business than ever. Additionally, establishing a yoga business requires less capital that makes it an ideal business for people interested in catering healthier lifestyle to people along with making money.
How Does the Industry Look?
The current Indian wellness market is estimated to be something around at INR 490 billion. In fact, the yoga and the fitness segment comprise 40 percent of this market share that is expected to grow by INR 875 billion in the next three years.
Additionally, the changing perception of people towards their health and lifestyle is expected to boom this industry more in time to come. As yoga plays an important role in offering preventive care, there is a tremendous amount of opportunity for establishing a yoga business in India.
Infrastructure and Space
Before establishing your yoga studio business, it’s necessary to have a business plan focusing on your objectives and vision for achieving your target. A normal yoga studio could be established even in a minimum area of 20 square feet.
While setting up your location, also focus on having a parking area along with other vital areas including the changing room, restroom, welcome area etc.
The investment required for starting a yoga studio is relatively less compared to other projects in the beauty and wellness industry. Banks may not be very favorable to lend for starting a yoga studio – as there are no physical assets being created.
Hence, property-based loan or mortgage loan based on the income of the promoters or savings can be used to start a yoga studio.