(Above is the content of this blog presented in video format)
Understanding The Yoga Business
The business of yoga is expanding. It’s estimated that people spend 80 billion worldwide on yoga.
So why are you and so many teachers struggling to make a living?
Let’s go over a few of the reasons why…
The first hurdle is the mindset of most yoga teachers.
For many, the idea of mixing yoga with money is unethical. Yoga is a gift to the world and promoting it doesn’t feel natural.
In her book “The Art and Business of Teaching Yoga,” author and teacher Amy Ippoliti explains that yoga can’t be kept free from commerce and promotion.
If yoga teachers don’t promote the benefits of yoga and their own personal expertise, how will people find them?
By promoting yoga, you’re making it possible to reach more people.
How much value has yoga brought into your life? By monetizing yoga, you’re sharing the message that yoga and its teachings are valuable in society.
So get rid of the idea that yoga and money are in conflict. We all need food and have bills to pay.
So Many Teachers
Due to the low-profit-margin in group classes, yoga studios increasingly focus on teacher training to make money.
The result of this is a market overrun with teachers. Yoga author Leslie Kaminoff puts it best, explaining the yoga teacher hiring process.
“You’re going to pay us [yoga studios] thousands of dollars, and if you’re really good, what you get to do is get an entry-level position in the shitty time slot that nobody else wants to teach in.”
Right now it’s estimated that there are over 14,000 new yoga teachers each year. And that’s just in America.
With all these teachers, there aren’t enough studios to employ them all. Even if you are able to find employment at a great studio or gym, the starting pay for a yoga teacher is $35 per class.
If you’re teaching 15 classes a week, that still only takes your yearly income to just over $25k a year.
When you consider expenses like rent, gas, insurance, clothes, and other necessities, it becomes clear that this isn’t sustainable.
But, there are yoga teachers out there crushing it. Many thriving off of private & online classes, paid sponsorships and special events. How do they do it? They can’t all just be independently wealthy… can they?
The Secret? Marketing
Their secret is that they have learned how to brand & market themselves.
Learning how to market and gain a following on social media can seem overwhelming.
But like any skill, it’s completely learnable. When broken down into steps, it’s really not that hard.
Social media and new marketing tools make it possible to target your audience in ways that were never possible.
Imagine the cost of an advertisement in a magazine, yellow pages or a TV ad. Those were the only options for our parent’s generation.
With that type of marketing, you paid a big lump sum and had no way of knowing if it was working or not.
With today’s marketing tools, you know exactly what works, what doesn’t and can customize it to any budget.
Did you know you can start an advertising program on social media or Google for as little as $5 a day? Then, when you see what works, what gets students to the mat, you can add more.
That way, you’re only spending money to get a return on it. It sounds too good to be true but it’s the new technological world we’re living in. Better to get with it than be left behind.
Google is the second largest company in the world (based on market capitalization). 95% of those profits come from Google Search Ads.
Facebook is #6 and their profits come from ads too.
Obviously, these ads are working for a lot of people.
Learning how to master new marketing tools is essential for your growth and business as a yoga teacher.
We believe information should be free.
Yoga Teacher Pro is dedicated to giving you the tools you need to turn your practice into a career that takes care of your needs and can even lead to abundance.
Don’t forget to Sign up to our email list to receive our next blog and gain weekly marketing secrets geared towards yoga.
Next, we’ll cover “Permission Marketing” and how understanding just one thing can put you on the path to success.