What I Learned as a Yoga Studio Manager with Shannon Crow
What does it really take to run a successful yoga studio business? Join Shannon in the first of this 5-part mini-series, Yoga Studio Business 101, to find out more about the different aspects of building and running a yoga studio business.
Shannon shares what she has learned as a yoga studio manager, and in the next four episodes, brings on four other experts to share more about creating a mission statement, hiring and training a team, the legal aspects and insurance aspects of running a yoga studio business.
Shannon has had years of experience as a teacher working at yoga studios, and as a manager ensuring the smooth running of yoga studios, before she moved into the consulting space. On this episode, she shares her six biggest takeaways from her time managing for yoga studios:
- Setting prices with confidence.
- Registered sessions vs drop-in classes.
- Why consistent communication is important.
- Paying attention to numbers and data.
- Focusing on community over competition.
- The teachers are the brand.
If you are the owner of a yoga studio, or dream of becoming one someday, or if you’re an independent yoga teacher who wants to build a yoga business – there are lots of great insights for you in this mini-series!
[2:13] This is the first of a 5-part mini-series, Yoga Studio Business 101.
[7:21] Shannon has learned a lot about running a yoga studio business by working at and managing for yoga studios.
“The sustainability of a yoga business really hinges on if we can maintain those professional relationships and maintain our hires of yoga teachers.” -Shannon Crow
[9:35] How can you set prices with confidence? Why is that so important for a yoga studio? Shannon breaks down the money mindset issues behind setting prices.
[14:50] Shannon shares some strategies to build your confidence in setting your prices.
“Lowering the price and having a good deal isn’t always what gives us value.” -Shannon Crow
[22:01] Consider doing registered sessions instead of drop-in classes. It’s all about the commitment that comes with it.
[24:30] Regular, consistent communication matters. Why?
[27:18] Attention to the numbers and the data is powerful. What kind of data do you need, and how can it help you run a better yoga business?
[30:51] Always value community over competition. Shannon shares some insights about the fear that drives competition, and how to overcome it.
[34:08] Yoga teachers are the brand of the yoga studio. Shannon illustrates why, with a personal anecdote of how one of her yoga studios went from zero profit to profitable overnight.
“Your personality is really your brand, and students connect to teachers.” -Shannon Crow
[39:43] Connect with Shannon and other yoga teachers at various events and training sessions coming up.
- The Connected Yoga Teacher Podcast Episode 100: Cultivating a Community of Professional Peers with Linda Sparrowe
- Tone Yoga Studio in Owen Sound
- The Connected Yoga Teacher Podcast Episode 011: Setting Prices and Defining Your Value as a Yoga Teacher with Tracey Eccleston
- The Connected Yoga Teacher Podcast Episode 042: Money Mindset with Geraldine Carter
- Productivity Straight Talk Podcast with Amber De La Garza Episode 079 – Nipping Avoidance In The Bud: A Coaching Session With Shannon Crow
- The Yoga Conference and Show, Toronto March 2019
- Mama Nurture Prenatal Yoga Teacher Training – (Training is no longer being offered by Shannon Crow because she has niched down)
- Yoga for Pelvic Health Teacher Training, November 2019
Gratitude to our Sponsor Schedulicity
Thank you so much for creating this podcast series. I was recently offered a position to open and manage a new studio and seeking out resources to set a good foundation. at the end of the podcast you mentioned setting up the studio as a rental space. That is what I am envisioning for this space. I was curious about price points for renting out the space to teachers and how that would impact the set up for pricing for students (by donation, drop in, monthly etc). Do you have any further resources or suggestions about this business model? Thank you!