Yogipreneurs: Why having an online course is essential for a thriving yoga business in 2023
As yogipreneurs, we must always be seeking out opportunities and seeing challenges as opportunities. A challenge that many yoga teachers are experiencing right now is a lack of income, not generating enough income in their business. The answers to the questions of what you’re offering, how much you’re charging, and how many students you’re serving will bring you to your income. As a business owner, it’s important to not only ask those questions but also do something with the answers.
Is there an opportunity to reach more students in order to increase your income?
This obviously requires growing your community and having a sales funnel set up in your business to make those sales. And is your income potential currently capped? So, for example, if you’re teaching drop-in classes in a community hall and you can fit 10 mats, your income potential is capped. If you’re charging $10 per drop-in class and you fill that class, that’s $100 maximum that you can receive for that class. If you’re teaching in a studio, likely you’re receiving $20-30. Your income is capped. You’re being paid for your time. You’re trading your time that hour for money that $20-30 or if you’ve set up your own class, that $100 if you fill all 10 mats. So, there are opportunities to be had here.
What’s the solution?
With every problem or challenge, there’s an opportunity to find a solution, and this is where having an online course can provide that solution to you. Maybe you’ve asked yourself if this should be your next move and today we want to share some reasons why having an online course is essential for a thriving yoga business in 2023.
If you want to thrive in the online space and create a business that’s sustainable and profitable, an online course will help you to do that. Of course, it’s a big shift. So, are you ready for that? Are you ready to create your online yoga course? Because we know the world is online right now, and the world is going crazy for online learning.
Have a read of this!
The online education industry is a $400 million per day industry. By 2025, the industry is expected to be valued at $350 billion dollars. It’s one of the fastest-growing industries, and there are course creators launching courses in almost every topic you can imagine. If you want to learn anything online, you can.
“But why would someone take a course in yoga if they can find it all on YouTube?”
Quite often, teachers say this. You can find everything on YouTube. You can find anything you want online, but there’s value in how you present content and order it in a step-by-step framework that leads and guides your students to a transformation that they desire. This can be life-changing for your students and life-changing for you.
65% of yogis practice at home
One of the reasons an online course is essential is that a significant percentage of yogis practice at home. A 2016 survey undertaken by Yoga Alliance found that 65% of yogis practice at home. This was before Covid when everyone went online. As we know, the yoga industry is booming, so you can only imagine what that percentage might be now.
Recent research by The Good Body suggests there are 300 million yoga practitioners worldwide – so with a conservative estimate, that would be over 200 million of those practicing at home. 200 million (or more) at-home yogis, practicing through their screen.
The yoga industry right now is an $88 billion global industry, which is made up of different segments: yoga teacher trainings, offline yoga, and online yoga. The segment of the market that is showing the largest projected growth of 12.3%
So what does this mean?
It means there’s real opportunity in the online space.
Will you take it, or will you run from it?
