The yoga business is forecasted to generate a revenue of $66.2 billion globally in the year 2027. This number is well justified considering the year-on-year increase in revenue generation. Also, people are more inclined to join teach yoga online classes since working from home has become the norm and people are making an effort to increase immunity & overall health to prevent being infected from Covid-19.
Individuals are also opting for a personal yoga trainer to achieve their online fitness platform goals faster. The income of yoga instructors has also increased owing to online classes as the number of classes has increased and the clientele is from across the world.
The average hourly income of a yoga instructor is $47.12 in 2021. The Yoga industry generated a revenue of $9.09 billion in 2021 in the United States alone. If you are a yoga instructor or you have a yoga business, read this article to find out how you can use video streaming to generate revenue.
How to Make Money with Teach Yoga Online?
Yoga enthusiasts who want to learn and practice yoga are already on the internet looking out for classes. As a yoga business you have to establish your presence online to be accessible to these audiences. There are multiple channels to reach your audience online. Detailed below are the ways you can make money in fitness industry & teaching yoga online.
Step 1: Open a virtual yoga studio
If you are making money as a yoga teacher, the first thing to do is to open a virtual yoga studio. Offer a classroom environment virtually to your students so they can practice yoga from the comfort of their homes.
Practicing yoga with others in the class and being able to converse with them during the session brings about a feeling of togetherness. This also encourages people to participate in sessions more when they have people to hold them accountable for attending yoga classes.
Step 2: Monetize your videos
You can have pre-recorded yoga videos by creating a series of videos for daily routine, practices to achieve certain fitness goals, for different health conditions and the like. Name each series as a course and offer them as individual products. Your students can purchase the product based on the problem they face and their end-goal of practicing yoga.
You could also have a one-on-one consultation to determine the course that is best suited for them to teach yoga online. As a virtual yoga instructor, this can either be a free consultation or a paid session.
You can utilize one or more of the following models:
- Subscription video on demand (SVOD) model for monthly & yearly subscription
- Advertising-based video on demand (AVOD) by including paid ads within your video content
- Transactional video on demand (TVOD) to rent videos for a pre-decided time period.
Step 3: Offer live or pre-recorded streaming sessions
You can offer personal yoga training for clients who wish to attend one-on-one sessions. It can either be live or pre-recorded streaming sessions, or, a mix of both.
Step 4: Create a yoga app
Use a SaaS product to launch your yoga app so your students’ community can access yoga classes/videos using any device and from anywhere. This creates a deep and wide impact on your students offering them exceptional results.
Including features such as offline viewing, downloadable material, in-app purchase for yoga products increases engagement within your yoga app. It also makes it a one-stop shop for all yoga needs.
Step 5: Present customers with accessible price points
When you present accessible price points to your target audience, it works as the best yoga business model. Offline yoga studios could cater to a limited number of people. But the internet has broken the barriers and opened up the audience globally. As long as the yoga instructor can communicate clearly in the language the students understand, geographical boundaries do not matter.
This means, you can reduce the price points and make it more affordable to attract a larger group of people. You can run periodic offers for different course categories, festive offers, new joinee offers and many more. The trick is advertising these offers enough so people get to know about it and can sign up for it.
Building a brand online as a yoga instructor or a yoga business is crucial to become successful. You could also provide free trial classes for new students so they can get to know you before they decide to sign up for your course/classes. As a virtual yoga instructor, you have complete authority fitness to decide and tweak your monetization strategies.
Step 6: Cultivate brand synergy
As mentioned above, it is crucial to establish your brand online. To do this, you can offer curated playlists, healthy recipes, inspirational client stories, promote yoga products within the app and even partner with other brands who would like to tap into your audience. In return, you can also tap into their audience with a free trial class and then promote your paid courses and classes to generate revenue.
Step 7: Build a tight community
An online yoga business is as good as the community it builds. Connect with your students on a personal level by engaging with them on your platform. Once you build a strong community, your revenue will rocket sky-high.
Step 8: Future of TV
A good yoga app should have a customizable app layout, support all content formats – video, audio, images, pdf, downloadable content, and have live stream best online fitness platforms feature. Be sure to have all the monetization tools in place so you can modify your revenue strategy as and when required.
Conclusion
As discussed above, there are multiple ways to monetize online yoga streaming videos. Analyze your customer base teach yoga online, your target audience, the format of your content, and other factors to formulate your revenue generation strategy. Now that you know how to start teaching yoga online, what are you waiting for?
