Amy Peddycord, the owner of Invoke Studio, is celebrating 15 years of business in January 2020.
Invoke opened in January of 2005 in the heart of downtown Indianapolis and has been consistently ranked as one of the city’s top yoga and Pilates studios. Invoke Wellness Center opened in November 2013, and is a testament to the community feel, connectivity and inclusivity that Invoke has fostered in Indianapolis.
In addition to Vinyasa Yoga and Pilates classes, Invoke’s schedule includes Bar Effect™, Core HIIT, Yin Yoga and heated classes. Invoke also offers workshops, special events and teacher training programs.
While Invoke is a successful studio, it hasn’t come without challenges or lessons learned. Below, Peddycord shares her top 10 pieces of advice on running a studio after having more than 10 years of experience under her belt:
1. Strive for excellence.
Start with the intention of making every client’s experience exceptional from the front desk to the classroom.
2. Teachers and the client class experience are paramount.
Yes, make your studios beautiful, market your business and hire great front desk staff, but your teachers and the class experience will be the backbone of your business. Do not be scared to give feedback to teachers and encourage their improvement.
3. Run your studio like a business.
Coupling business and yoga can make some people uncomfortable, but remember you have bills to pay and need to run your studio like a business to maintain and grow the community.
4. Give back to your community.
Foster ways to give back to your community. For example, Invoke offers free weekly meditation sessions, complimentary summer outdoor yoga classes in partnership with Downtown Indy, and a free tuition scholarship for our 200-hour yoga teacher training program.
5. Celebrate entrepreneurship.
Attend industry conferences, consume business media and surround yourself with other entrepreneurs. As a studio owner, you can feel like you’re an island and it can be lonely. Attend industry conferences – MINDBODY BOLD is a good one, read books like the E-Myth book, listen to business podcasts, and make friends with other entrepreneurs even if it’s not in your industry.
6. Hire a manager and outsource certain tasks as soon as you can.
As soon possible, hire those that can make owning a studio more sustainable. Investing in a good manager, cleaning service and bookkeeper saves you time and in the long run makes your business more successful.
7. Don’t rely just on class income to pay your bills.
Expand your offerings to have diverse revenue streams including teacher trainings, retail and hosting workshops.
8. Take care of yourself.
Remember you can only run a mind/body business well if you take care of your mind and body first.
9. Make the client experience as consistent as possible.
Classes must start and end on time, no matter how good that flow is going. Bathrooms need to be clean every day with toilet paper stocked, etc. Your class levels need to be consistent as what is described in your marketing. Clients can then focus on their session or class rather than the details.
10. Invest in your brand and the build out of your business.
It can seem daunting to invest in nice commercial build-outs, good signage and an impressive website, but those details do matter and when done mindfully can help grow your community.