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India has slowly been awakening to the positive effects of yoga. With the western world accepting yoga as the best way to achieve mental and physical health, Indians too are embracing traditional health practices like yoga to attain wellness of the mind and body. There is an international Yoga Day too that is now celebrated every year on 21st June to commemorate one of the oldest methods of leading a peaceful and healthy lifestyle. Opening a yoga studio in urban India surely has good money making potential considering the fact that the rising number of people want to attend yoga classes from teachers with relevant experience and knowledge.
Investing in a yoga studio involves lesser money compared to opening other beauty-oriented business because it does not involve buying expensive tools and products for use neither does it require any kind of machinery investment. The only cost that one needs to bear is the rent or the lease amount, doing up the interiors and employing manpower depending upon the space and class size.
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The Indian wellness industry is believed to be growing at the rate of 15-17% CAGR annually with yoga and fitness studios covering about 40% of this market. The Indian wellness industry was worth INR 490 billion in 2015. As per a report generated by ASSOCHAM, there would be an increase in demand for yoga instructors to the tune of 30-35% in the next few years.
The government of India set up the Department of AYUSH (Ayurveda, Yoga, Unani, Naturopathy, Siddha, and Homeopathy) for the growth and development of the ancient Indian health and well-being systems. It also creates avenues for investment, education, research and training related to all segments of AYUSH. The Government also approves of 100% FDI in the AYUSH sector.
There has been a change in the socio-economic outlook of the middle-class Indians too. The disposable has increased in urban India. Lots of small-scale yoga studios have opened up in various regions in the recent past with fresh and innovative ideas; this segment is poised for attractive growth. There has been a significant demand for yoga mats and yoga pants during the month of June coinciding with the international yoga day. Even new-age apartments and societies have started hiring the services of professional yoga instructors to conduct yoga sessions at the community centers and parks.
These are encouraging figures indicating the immense potential of this industry in India.
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