Want to share your passion for your yoga—and possibly turn a profit? Chesley Long founded Camp Yoga two years ago and has some tips to share with other aspiring yogapreneurs.
When I launched Camp Yoga—a yoga-focused sleepover camp for grownups that marries all of the fun of summer camp and yoga festivals, minus the spendy pricetags—I was brand-new to yoga entrepreneurship. Now, just two years later, I’m running camps in seven locations across North America and hoping to increase that to 15 by 2020. Friends often ask me how I did it. Here’s a little inside scoop to help you make your yoga biz dreams a reality, too.
1. Do what I call “reverse math.”
If you’re a yogi, there’s a good chance that building a yoga business is so deeply entrenched in working from your heart and soul that decisions can be made to start something even if it may never work. That’s why it’s crucial to calculate all of the costs involved in your big idea—and I mean all costs. Here’s where the “reverse math” comes in: If you take rent, loan payments, studio build-out costs, staff, heat, marketing—heck, even what the toilet paper is going to cost you—that will get you your monthly overhead expenses. Then, you’ll need to calculate how many memberships your venue can hold based on mat space. If sales at max capacity doesn’t exceed your costs by the income you want to make, you’re going to need to find a different business model. So many of us have so much love for the Eastern world’s philosophy that we often forget that it still needs to translate into mortgage payments and feeding ourselves.
See alsoThe Yoga of Money: Take Wisdom from the Mat to Your Finances
Want to meet Chesley Long and experience Camp Yoga for yourself? Sign up for Winter Camp in Colorado, February 24–26, where you’ll be in for dogsledding, archery, wine-tasting, moccasin-making, and plenty of yoga and fitness classes taught by some of the region’s best instructors. Visit campyoga.ca for more info.