YOGA'S IMPACT ON THE ECONOMY & HOW YOUR STUDIO CAN BENEFIT
Posted on November 12 2018
Money and Yoga. Two words we don't often see together. But, here’s the thing, yoga is doing more for your community and the world than you think. It is actually improving the economy in a really interesting way.
More than ever, companies are spending money (like hundreds of thousands of dollars, money) on wellness. There’s a reason for that. According to Kaiser "Poor lifestyle choices increase the risk of chronic conditions, which have a negative effect on your employees’ lives and can raise your premiums. They also make it harder to be productive, lead to more sick days, and increase workers’ compensation costs.” (Kaiser Permanente Business). Yoga and fitness studios play a huge part in the overall wellness of a company.
Your studio is providing more than just a place for people to come stretch and, build muscle and relax. It is actually making them healthier, happier, and more productive. Research says so. (Healthline) This is exactly what employers, entrepreneurs and employees are trying to accomplish! We simply need to help them connect the dots.
When your classes are busy, and your membership is growing you are directly impacting your local economy. The people that come to yoga regularly are leaving your studio with less anxiety, a lower chance of chronic conditions, and are more likely to be healthy productive employees or business owners. They are statistically happier. And happy equals money. They save their employers money on premiums, they will show up to work, and they will accomplish more while they are there.
I don’t have to convince you that yoga can change lives, but many of you don’t think about how your studio is improving the economy. When you ask someone to pay $100 a month for a membership at your studio, you are actually asking them to invest in something bigger than themselves. Every person that leaves your studio has a ripple effect in their bubble. That means at work too. When you coach your desk staff to sell memberships, you can explain to them that they are not just changing a life, they are impacting the community as a whole.
So let's take action! Here are 5 ways to leverage this data and cash in on corporate dollars:
- Post research based benefits of yoga posted around your studio and in your newsletters
- Include research or data on benefits of yoga for employees in your content marketing efforts
- Network with and talk to local employers or business bureaus about how yoga can make an impact on their bottom line
- Ask local employers to hold a study with your studio by subsidizing yoga for a year for employees and measure the impact!
- Talk to local health benefits insurance brokers to see what programs they are recommending to their clients
When you look at yoga from this perspective, you are offering a new lens for your staff, clients, and local community to see the impact you are making. This is a lens that speaks to the masses. And, in my opinion, corporate wellness dollars are the single biggest opportunity for yoga and fitness studios right now. So get out there and do your part to grow your economy!