Lessons Learned From My First Year as a Studio Owner

My mother is a small business owner. She is an artist and has an art gallery. Having her as a role model emboldened me to shoot for the same dream. I saw her through the tough, the thriving, the risky, and the rocky times of her career. While I looked up to her, I was also aware that it couldn’t have been easy to raise 5 kids and build a business. What struck me most was the brilliance that grew in her with every step she took. She found her place in the sun, and she basked in it.  I wanted that for me. So it was no surprise that my major milestone was to build a yoga studio when I found my niche. 

After teaching for 10 years in Madrid and Pontevedra, I finally opened a small studio in front of a bullfighting ring in Spain. Within a year, I noticed a shift in roles and mindset, from being a yoga instructor in a studio to being responsible for a physical venue. Within 12 months, a myriad of lessons were thrown my way. In this article, I would like to share them with you. We will discuss the decision-making process for creating the studio. I’ll explain the new perspective you will have alongside the new role you’re going to take on. Lastly, we will discuss some surprises that arose along the way and how you can prevent them from happening to you or your business. Let’s take it away, shall we?

1. Why are you opening a yoga studio? 

These days, there are many directions your business can be taken besides the brick-and-mortar route. Why did you choose this? It’s vital to have a clear view of the choices you’ve made to get to this point because it will be tested on an almost daily basis. Owning a yoga studio may be your dream, but imagine living with that 24/7. Your sick days will cost more than just a few days off. It is a significant challenge that you must face every day. So write down your reason for opening a studio as a daily reminder. In my case, I needed a physical space I could control as I saw fit. I was tired of being limited by a gym or studio that didn’t align with my beliefs. I wanted a space where I could develop my style away from prying eyes. Lastly, I wanted a place to help people see that the benefits one gets from yoga don’t happen in the studio but in one’s daily life. I wrote this down in my studio notebook ( we’ll get to that in a bit). I always come back to it when I have a bad day. 

2. New business, new roles

I always say that a yoga teacher is not just a teacher; we wear many hats to take on different roles for our students. As a teacher and business owner, get ready to add to your collection. Not only will you be a teacher, coach, guidance counselor, personal trainer, and/or guru, you will also be a Teacher/student coordinator, CFO, CEO, Marketing, and social media manager. This makes establishing a routine imperative to your success. 

3. Set rules and limits

When you open your business, you realize very quickly that organization is key to your success. There is no room to be cavalier about your day-to-day operations. You cannot have favorites among your teachers or your patrons; most of all, you have to think of our bottom line, which is to make a living. You will need rules on student and /or employee conduct during classes, payments, attendance, and handling grievances. Aspects of the job we might not have had to care about as a teacher, but are essential for the function of your facility. You are now a boss. As such, a leadership role is thrust upon you. 

4. Developing good leadership skills take time. 

Becoming an effective leader takes time. There are books available on the subject, but no book will ever have a textbook example of the things you will face each day. Much like teaching, you improve your skills as you apply them. So it’s ok to pause or reflect before making a decision. In fact, it might save you from trouble. Take things in stride and allow your leadership style to flourish. 

5. Diplomacy

Procurement of a physical space allows you to be reachable by everyone.  This has both positive and negative implications. On one hand, you bring students in. Likewise, you will attract sellers interested in consigning their goods in your place, other studios scoping out the competition, even other less savory characters can come to light. Part of the job is to keep a level head. Be courteous yet firm. Most importantly, maintain civil relationships with other studio owners in your community. It is better to have a peaceful co-existence than the contrary. 

6. Be comfortable talking about money.

We are not monks and that’s ok. Personally, the thought of pricing, or asking people to pay on time despite having a payment system makes me tremendously uncomfortable, but it’s an issue I needed to overcome. It is part of this role that I have put upon myself. The only advice I have on this is to remember your bottom line, be objective and logical, and know that the conversations get easier as time goes by. Most importantly, develop a good working relationship with your business administrator or accountant. They will be responsible for helping you with your taxes. They are integral to your venture. 

7. Create a timetable for your workday. 

Running a studio is easier than running other businesses, although it becomes tedious quickly. Yes. Your passion can become a bore at times because you have more administrative duties. The one thing you cannot do is be everything at once at all times during your workweek. You will need a routine. I usually time my administrative work during the peak viewing times for social media.  That way, I can add content creation after answering calls or emails just in time for the majority of people in my area to be on their coffee breaks.  The same goes for rush hour; consider posting a favorite quote on your social media as you handle some afternoon inquiries. This example will help you get started on creating your schedule.     

8. Have a studio notebook and agenda.

Not everything about running a business is about organization and rules. A big advantage is the creative freedom at our fingertips. We decide where the business will go, and no one else. I have millions of ideas. Some were better than others. I wrote all of them down. Every week I look back on them to see which ones are doable, short-term, long-term, etc. The ones I have done became a footprint towards a path I can take my business on. This, in turn, aided me in establishing my brand. Everything you think of has a purpose even if it’s just to make you keep going.  An agenda is a separate tool. It will serve as your attendance and lesson log to keep your lesson plans in it’s course. After all, you are still a teacher.  

9. Keep updated with new laws for entrepreneurs.

Depending on your government, the taxes for small businesses are usually in a state of flux. Be aware of the dates you’ll need to pay your dues, economic changes, or new laws that may affect our business for whatever reason. Being taken by surprise by these sudden shifts is the worst. I usually meet with my business administrator every 3 months just to see if there is anything I should know about. While it may be their job to inform you, they are also human and can forget. Take the initiative because no one will care more about your business than you. 

10. Don’t treat your business like a baby.

A baby needs protection, but too much of this and your “baby” won’t grow up. Someone told me that you need to treat your business like a workshop or laboratory. Build things, experiment with new classes, learn from your mistakes, most of all, have patience to see if what you’ve created grows into something. The first 3 years are the most difficult.   

I think the biggest takeaways we can get from this article are:  when you open a business, you are given a new lens to envision your passion. Following that, you will see that new roles must be taken on to see your vision come to life. With some organization, creativity, and patience ( a lot of patience), you should be able to see your endeavor bear fruit, no matter how small.   

I hope this article has served you well. Good luck Momoyogis!