Yoga Retail 101

Adding retail sales to your studio or private business can boost sales—or create headaches. Experts weigh in on retail success strategies.

By Jodi Mardesich

The First Steps

Before putting your efforts into retail, study your students. Notice what they use and what they wear. Do they ask you for recommendations about props or want to know where you buy your yoga clothes? If so, they may be happy to buy from you.

The first risk lies in what you choose to buy, Lee says. "If that initial investment doesn't move at all, you're stuck." When products do sell, you need to reinvest at least half of the money in restocking or refreshing your inventory.

Strategies for Success

Start small and follow some basic rules of thumb if you choose to test retail items at your business:

Go with the basics. Lee recommends starting with the basics: mats, blocks, and nonskid towels. "People either forget them or want your recommendation on which to buy," she says. "Having that kind of staple is easy money." Even small studios or private teachers can test the retail waters with a small investment.

Brand yourself. Branding is a great way to start your retail business. Produce shirts with your studio's label or a logo or slogan. "People are excited to announce to the world that they're doing yoga," Lee says.

Set the right price. Initially, clothing is marked up at least double. Lee recommends doubling and adding $1. Murphy says marking up 2.1 to 2.3 times the wholesale price is becoming common. If you get products at a lower cost by buying in bulk, you can still keep the retail price higher, increasing your profit margin. Books and CDs, which are harder to sell, have a lower markup, Murphy says, and are riskier investments.

Stand out from the pack. If you try to sell yoga clothes that students can buy more cheaply at the Gap, or common books that they can pick up at a local bookstore or on Amazon, you'll lose money, Murphy says. The trick is to learn what will strike your clients as unique. "Have a good eye as a buyer," Murphy says, "and see what students and clients are wearing." Then look for products that are similar to but not duplicates of what buyers can find elsewhere.

Keep abreast of trends. Evolution Yoga's storefront in an upscale Ohio mall is expanding into fair-trade, organic, and eco-friendly products. "It's a yoga-inspired store with lots of things that are green," says owner Sandy Gross. Her "eco-chic" focus appeals to not only to yoga students but to many customers from the mall who want organic jeans, dresses, and other fashions.

Keep things moving. Produce weekly or monthly sales reports. If something isn't selling, don't be afraid to discount it heavily. "At 50 percent off, you're getting your money back," Murphy says. In fact, Lee encourages discounting one or two items every month, to draw in customers. And if something still doesn't sell, donate it and take the loss. People are more likely to buy when the inventory is fresh, she says.

Invest in displays. Make the lighting right. Adding a mirror will double your sales, Lee says. You can even think of employees as part of the display. People want to emulate their teacher or people who work at the studio, so by encouraging staff to wear the clothes you sell, you create a demand.

Pay attention to customers. "Customer service in the stores is huge," Lee says. "Train your staff to be helpful and to know the products."

Page 1 2 3

See All Business Articles »