Today, we’re talking money. While it’s an awkward conversation for some, the reality is that we all need it to survive so let’s just talk about it! We all know yoga teachers can make money teaching in the studio but what other ways can you make money as a yoga teacher? Well I’ve got 50 ideas (yes, 50) that you can find down below. Keep reading to find the best and most creative ways to make money as a yoga teacher!
Why to get creative and work outside the studio
Thousands….that’s right, thousands of yoga teachers graduate from yoga teacher trainings every year. There’s no shortage of yoga teachers but there’s only one YOU! In order to stand out and share yoga in the way that’s true to you, all you have to do is to tap into yourself and know what makes you different. (Need help figuring that out? Download my niching down guide so we can see what your yoga superpower is!)
Working in studios is necessary to gain work experience and something you can continue to do for your entire career. Most of the time it just needs to be supplemented as well in order to earn a full time living.
A full time living is relative to each one of us but most likely you have bills to pay and vacations you want to take. Well because of this, you need to earn money to make this happen. So let’s talk money for a minute. Ready?
At the average of $25 per class, if you taught 15 classes per week you would earn $375 per week = $1,500 a month = $18,000 per year. Teaching 15 classes per week is tough! Many yoga teachers use the term “burn out” when they are closer to 7 or 8 classes a week. We don’t want that.
At that rate, it’s imperative to supplement your studio/gym-generating income with other income streams.
The answer = start thinking like a business owner/entrepreneur! The moment that you start to think like someone who’s running a business, you start to view money in a different way. It’s not a “icky” thing but rather an exchange of energy so that each party is given something. Think about it, you don’t expect to go to the dentist for free, or get your hair done for free. No way! So you sharing yoga should be no different.
Thinking outside the studio is just part of this process and if you play your cards right, your studio jobs can feed into your other revenue streams.
Ideas for earning money outside the studio
The list is endless as to where you can earn money outside the yoga studio but I do have a headstart for you!
Use the form below to download the massive list that I have going to get you started. This is a place to brainstorm and see what attracts your attention or better yet, which ones do you roll your eyes and say “yeah right, Amanda”. Those are the ones I want you to take note of and explore a little more. But I want you to pick just ONE and start there. Then explore others. The idea is to pick one and see how it goes, then add some more until you reach your desired monthly income and aren’t burnt out.
How to plan for earning more money teaching yoga
First, if you have a part or full time job right now and teaching yoga is a side gig, please don’t quit your job. You are in a great position to have steady income now so keep that if possible. And if you’re all in as a yoga teacher and feeling that “burn out” that I mentioned before, take a breath and then take this next step.
Work backwards from your monthly income goal. Start with what you need/want to make each month. Then allocate how many studio/gym classes you would ideally like to teach each week. Then identify another revenue stream to help you fill the gap.
Just One Example:
Ideal amount per month = $5,000 ($75,000 per year minus 3 weeks vacation at $5,000 = $60,000 annually before taxes) Ideal amount of classes per week = 5
$25 x 5 = $125 x 4 = $500
This tells you that you would need to generate $4,500 more in revenue per month outside the studio. You could add in 6 private clients per week at $100 per hour.
$100 x 6 = $600 x 4 = $2,400
This tells you that you would need to generate $2,100 more in revenue per month outside the studio and private clients. This is where the creativity comes in and maybe you have a few corporate clients, or you host workshops, or you collaborate with other yoga teachers on special offers. This is where the fun really comes in! You can make it up monthly or even think about quarterly or annual events that will supplement your income as well.
Just don’t forget to factor in vacation and taxes into everything!
Remember that this is a process and it will take time to get to where you ideally want to be. I was working with a yoga teacher who identified an ideal monthly goal and it took her about a year to get there but she had slow sustainable growth and she is thrilled with her weekly schedule! Be patient with yourself and this process, you will get there! But start today or else you will wish you had.
If you’re looking to make changes in your yoga business, my group coaching program is perfect for this planning and transition phase! Get on the waitlist for the next group that will open.