5 Ways To Boost Financial Stability As A Yoga Teacher

As yoga teachers, we need to expand our horizons when it comes to making money.

Besides the joy of conducting yoga classes, another source of satisfaction is engaging in ways we can help our students while also making a living.

In this article, I'll be taking you through some ideas on how you can diversify your income and get some economic independence! You may also want to consider ways you can start to make money that does not rely on your physical presence.

Why You Need To Develop Financial Stability As A Yoga Instructor

Yoga teaching is an amazing journey, but many yoga teachers struggle to make a living. Some have been on the same hourly rate at the same studio for over 10 years!

This means that you must have a financial plan that lays out how you will generate income, pay your bills, continue developing through CPD, and achieve the long-term goals you have set for yourself. It's all about progress. If you are not moving forward with the rest of the industry, then you are actually falling back!

When you have financial stability, you will have a stronger platform to share your passion stress-free, thereby building a worthwhile career.

Remember, it's never about the money but more so about your passion and delivering results to your students/community. 

Creative Ways to Diversify Your Income as a Yoga Teacher

1. Private Yoga Teaching

These are typically classes where you teach 1 or 2 students. It's a great chance for you to understand their needs and deliver results. Provide the students with tailor-made lessons.

When you can provide results for people you are likely to get recommened to their peers, expanding your student base!

2. Corporate Yoga Program

When dealing with corporate clients, you will need to get your business hat on! They ultimately want to save money or make money. I would suggest that you do some research on how much money businesses lose due to sickness, injuries, burnout etc. Use this as a basis of why yoga is required, and how this small investment will make them money in the long run. 

3. Develop A Yoga Podcast

If you have an area of expertise, then you should absolutely start your own podcast! It may not make you lots of money immediately, but when you grow you will get ad-money and maybe even sponsorship deals. Besides, it's a great way to collaborate and position yourself as an expert.

4. Provide Live Online Yoga Classes

Creating live online classes has many benefits. One, you can teach more students in a much wider area. Secondly, you can record these sessions and upload them to a payment-gated library! Check out HeyMarvelous if you're looking to do this.

5. Offer Monthly Membership

Allowing your students to purchase a monthly subscription plan is a great way to engage with your audience and make money while you sleep! You can give them access to classes, private sessions, resources, newsletters, discounts and so much more. It's an excellent way to motivate your students to commit themselves to their yoga practice. Check out HeyMarvelous if you're looking to do this. 

When you diversify your income as a yoga teacher, it gives you room to grow professionally. I hope that the above ideas have inspired you on ways you can more effectively serve your students as well make a more sustainable living from teaching yoga. 

Want to learn more about diversifying your business? Watch the webinar here!