6 Things to Put in Place Before Opening Your Yoga Business

If you are passionate about yoga and you have decided to turn it into a business, then  congratulations. It is a big step but an extremely rewarding career. However, before you can start  teaching, you will need to take care of the paperwork and make sure you have everything you need  to be successful. Here are six things to put in place before you open your yoga business.

Certification

You will need to get a yoga teaching certificate before you can do anything else, and this can take you up to a year to complete. Once you are qualified it is a good idea to get some hands-on  experience at another gym or studio to gain some experience before you go it alone.

Licenses

You will need a business license to open your yoga business in most states. You may also need other  licenses to practice yoga depending on which state you set up your business in, so do your own  checks rather than asking another yoga instructor online who may be from a different state. It is  important to check this before you start taking on students and obtaining the correct licenses.

Location

Nothing would be more embarrassing than having a bunch of students turn up expecting a class and  having nowhere to hold it. You should organize well in advance. You can hire a hall or  yoga space if you plan on teaching a couple of evenings per week or even build your own studio if  you are looking for a more ambitious project.

Insurance

All small businesses need insurance, and this depends on what type of business you are opening. For  example, you may need different insurance if you are teaching online than if you are taking a  physical class. Insurance can even differ in a physical class depending on whether you are hiring a  hall to teach or opening your own studio. Don’t lose sleep thinking ‘?’ – get some professional advice instead.

Legalities

Legally you will have to form a legal entity to start trading so that your business is set up correctly.  You can decide whether you want to be a sole trader and work on your own; in a partnership, if you  are going into your yoga business with another person; or in a limited liability company, if you are  setting up a more corporate venture.

Accounting

This is probably the least fun part of opening a yoga business, but it is one of the most important.  You will have to register to pay taxes and keep accounting records of your profit and loss. It is a good  idea to open a business bank account so that your money is kept separate. That way it makes  accounting easier. if you have a good head for figures or  you can hire someone who can take care of that side of things for you.  Teaching yoga could be the best decision you have ever made but you do need to sort out the  technicalities before you can get stuck into your new venture.