Yoga is a spiritual and physical practice that has been embraced by more than 36.7 million Americans -- that is a 50-percent increase from just four years ago, according to a recent study commissioned by the Yoga Alliance.
With more people practicing yoga, that has created an opportunity for instructors. Yoga practitioners are projected to spend $5.8 billion on yoga classes in 2016, according to the study.
With yoga spreading to all corners of the country, online storage finder SpareFoot wondered: What are the best cities to start a yoga studio?
To answer this, SpareFoot teamed up with Thumbtack.com, an online service that connects consumers with skilled professionals to get things done -- including taking yoga lessons. Based on their marketplace data, Thumbtack recently calculated which markets had the highest demand for yoga, controlling for supply. Cities with the most demand relative to supply scored highest on the Thumbtack Opportunity Index.
Thumbtack also provided the average price per session (per customer) for yoga instructors in each of those cities. To come up with our list of best cities to start a yoga studio, we also wanted to consider the cost of retail space and also the cost of living.
We took the 10 metros with the highest opportunity index scores and ranked each by the following additional metrics.
- Price per session
- Retail property asking price per square foot (via Loopnet.com)
- Number of sessions required to pay for a square foot of retail space
- Median monthly rent (via Zillow.com)
- Number of sessions required to pay a month’s rent
- Median home sales price (via Zillow.com)