You may have heard of a Yoga Business Coach before, but why should you hire one? The extra cost might seem a little counterproductive, especially if your business is already struggling. But having a Yoga Business Coach come alongside your business can create benefits that far outway the costs involved with hiring an extra member of your team.
Whether you’re trying to move your business forward in the right direction, or you’re just getting started with your yoga studio and want to start off on the right foot, a Yoga Business Coach can make the process a lot easier. Because our knowledgeable Yoga Business Coaches have experience with every stage of the process of building a yoga studio, they have invaluable advice to offer.
Here’s exactly why you should be hiring a Yoga Business Coach, no matter what stage of the journey you are on.
Increasing the profit of your business
What yoga studio isn’t looking to increase their bottom line, and in turn, their profitability? While having a yoga studio is primarily about your passion and wanting to improve the lives of those around you, making money while doing it is just as important. After all, if the business is running at a loss, it’s not going to be around to help people for very long.
More income for the studio means that there will be more people practicing yoga. With this frequent, consistent practice, the business will have a larger impact on the community and the world.
Hiring a Yoga Business Coach means that they can give you pointers on how to increase your profitability. While it may seem like an easy solution, as a new business owner or owner of a studio that’s been around for a while but have hit a plateau, you may not know exactly how to go about this.
While decreasing your overheads is one way to do this, there are more complex solutions that can provide even greater results. Decreasing your churn rate (the rate at which people cancel their membership at your studio) can greatly affect your bottom line. Increasing the lifetime value of a client by retaining them for longer is another way to move your business into a more profitable zone.
But because each yoga studio is different, there is no one size fits all solution to increasing profits. So having a Yoga Business Coach that can come alongside you and tailor-make strategies just for you is a completely invaluable experience, and one worth investing in.
Get specific guidance for your studio
No two yoga studios are the same, and for that reason, you need specific guidance for the current situation that you find yourself in. While there is an overwhelming number of online resources ready to help you, they are not specifically written for your particular business.
So hiring a knowledgeable Yoga Business Coach to guide you through your current situation is something you’ll never regret. Receiving advice that is specific to your particular situation at that given moment is something you need as a person who owns their own business.
Owning and managing a yoga studio can sometimes feel incredibly lonely because you’re constantly on the go, having to figure it all out as you go along. While you are more than likely an expert in the field of yoga, it’s possible that you know very little about business, making the running of your yoga studio a challenge from start to finish.
But our talented Yoga Business Coaches have been in your position before, all of them even running their own yoga studios at some point in their career. It’s this very fact that makes them experts at what they do.
Create goals for where you want your business to be
Every good business owner knows that the best way to make progress is to have specific goals and strategies in place to achieve those goals. But coming up with realistic and achievable business goals can be a challenge, especially for first-time business owners.
Hiring a Yoga Business Coach to create goals for your business with you will make the process a lot easier. Together, you can work on a strategy for reaching the goals in a timely manner. More specifically, Your Yoga Business Coach will help you look at the data points in your business currently to figure out the state of your current business. Then, you’ll create KPI’s to help you track the data points as your get closer to your goals.
Ultimately, working directly with a Yoga Business Coach will allow you to unlock you & your team’s full potential in a way that you would struggle to identify on your own. Plus, when you’re tracking your progress, you’ll be able to make strategic pivots.
Experience is the best teacher. So having someone on your side that’s put data-driven strategies in place in the past can give you exactly the insights you need.
Give you time
As the owner of a yoga studio, you constantly have a million things on your plate. It likely feels like working with a Yoga Business Coach would add yet another task to your neverending list of things to do. However, that’s not the case.
Working with a Yoga Business Coach gives you time back in your schedule. This is because they will be able to identify what the most productive and mundane tasks are. With this in mind, you’ll immediately be able to delegate or eliminate certain tasks and start focusing on what is most important.
Additionally, they will help you put systems in place to help you automate some of the most repetitive things that you and your staff do. When we create systems and procedures, your studio will start to run itself and you will experience more time freedom to work on the larger vision and goals of the business, and have more personal time.
So, even if you’re already feeling super busy, working with a Yoga Business Coach will help you find peace in processes and free up hours of your time each week, even with an hour or two dedicated toward coaching.
Additionally, working with a Yoga Business Coach can help you save time in creating your dream business. Learning from someone who knows what they’re doing saves you the time of having to learn by yourself. Instead of taking a couple of years to build a thriving yoga studio, you could achieve it in half the time. Although hiring a business coach costs you time, that time will be made back by speeding your studio into a more profitable future.
Someone to hold you accountable
A Yoga Business Coach holds you accountable. They will check up on you on a regular basis to make sure that you are implementing the steps that you planned. Having that accountability often motivates you to get going and make improvements to your business because, at the end of the day, you have someone to answer to.
Your Yoga Business Coach will make sure that you are finding the time to make your business run like a well-oiled machine. After all, that is what you’re paying them to do. They are there to give you an encouraging word when you need it and give you careful guidance along the way. Having someone to report back to at the end of the day is one of the ways you can ensure you’re managing your time efficiently.
Hiring a Yoga Business Coach
Have you been trying to decide whether or not to hire a Yoga Business Coach? It’s a no-brainer. With all of the benefits that come along with having an experienced guide by your side, there’s no reason not to.
If you want to find out more about our Yoga Business Coaches and what’s on offer, join the Yogapreneur Collective. If you want to know whether or not a Yoga Business Coach could help your yoga studio, then book a free strategy session with one of our experts. They’ll help you to come up with a game plan to make your yoga studio a success.