Neighbourhood yoga studio

Local residents who want a regular practice, plus workshop attendees, corporate groups and visitors on drop-in passes.

Monthly memberships, class packs and drop-in fees, topped up with workshops, teacher trainings, private sessions and retail such as mats and clothing.

• Yoga teaching or managing teachers
• Business planning and budgeting
• Scheduling and staff management
• Community building and marketing

• Commercial lease terms, including length, rent increases and who pays for fit-out
• Check zoning and any business licence or occupancy rules with your municipality
• Commercial general liability insurance and property cover
• WCB/WSIB coverage once you hire employees, rules vary by province
• Fixed rent is a risk if membership grows slowly, and winter or summer holiday dips are common
• Register for GST/HST once revenue passes the small supplier threshold, check with the CRA

Estimated startup costs are typically around $15,000 to $75,000, depending on your lease, fit-out and equipment. Monthly revenue is estimated at roughly $3,000 to $15,000, depending on memberships, workshops and drop-in numbers.

Check commercial lease terms, zoning and any business licence or occupancy rules with your municipality, and GST/HST registration. Also check commercial general liability and property insurance, and WCB/WSIB coverage once you hire employees, as rules vary by province.

Useful skills include yoga teaching or managing teachers, business planning and budgeting, scheduling and staff management, and community building. Estimates suggest at least about 30 hours a week, and fixed rent is a risk if membership grows slowly.