Is Running A Yoga Center Profitable In India?
The yoga ‘market’ in India is hovering at an inflection point. With United Nations recognizing 21 June as Yoga day, the ancient practice has come in vogue and as per the law of economics, supply comes with demand. Many yoga experts have come up with their own centers offering people to teach the practice at a certain cost. However, in a world where a person can learn the asanas (positions) with just a click, how prolific is it to open a yoga center?
A volunteer from Isha Yoga Centre, located in Delhi, told BW Businessworld, “Commerce in the world of yoga has come to play since the last decade. The practice which started from Lord Shiva itself was passed on through gurus. However, today it has become a business proposition. Once people build their market, they start charging heavy amount. Yoga centers have even started selling yoga accessories like the yoga mat, yoga track suit, and others to make more profit. However, there still are non-profit organizations like us which offer services for free.”
The yoga market has seen a dynamic change after Prime Minister (PM) Narendra Modi himself patronized the ancient art.
“With PM urging the people and with more and more celebrities promoting yoga, it has achieved new heights. Today, there is no shortage of elites who are willing to flock to swanky yoga centers, this has become like clubs. So, don’t think of it as a loss making business idea,” the volunteer added.
In India, there is a growing awareness among people regarding their health and that is why yoga centers are not just centered in metro cities but also in tier 2 cities.
A staff member from Sivanand Kutir, a yoga center in Netala, Uttarakhand told BW Businessworld that the center has a strength of 39 students and isn’t making profit but it can survive since it is a part of International Sivananda Yoga Vedanta Centre which has centers all across the world. The fees of the courses offered by Sivanand Kutir starts from Rs 40,000, thus making it suitable only for rich or higher-middle class.
There are not just big players but also small players involved in the field. Just like coaching centers, you can find yoga centers in every locality as well. Many fitness enthusiasts start a yoga training class in their own homes.
“I started yoga classes in 2012 that is before Modi came into power. It involved no investment, thus, it has always been profitable for me. I just have to give few hours to this,” said Anita Shukla, who runs a yoga center in her home in New Delhi.
These small players attract most of the middle-class crowd as they charge a small amount for their services.
“A middle-class man doesn’t have thousands to spend on yoga. It’s not that popular as yet. People are ready to pay hefty fees for a gym but not for a yoga center and that’s the reality. It’s logical too, as gym owners spend a lot on equipment, so they charge high. I also want to point out that all nearby residents know me, trust me and that’s why they come to me and they are my market,” added Anita.
The fitness industry in India which is a highly unorganized sector is relying on the fact that gradually, people of the country are coming to terms with the fact that those who exercise regularly are happier and healthier compared to those who don’t. This, according to them is the reason for good performance of the sector.
