Non-Profit or For-ProfitYour first major decision involving your spiritual retreat center should not involve the type of yoga or decor. Instead, you should immediately determine whether the center will be a non-profit or for-profit venture. Keep in mind that the non-profit approach provides you with better access to start-up funds, although, as the Small Business Administration advises, this approach will necessitate an application for 501(c)(3) organization status with the Internal Revenue Service.
Not-for-profits are far more common among spiritual retreat business ventures, as this type of business is typically motivated by a "greater good" mission, as opposed to pure profit. However, for-profit retreat centers can also prove viable business ventures, particularly given the current popularity of yoga. Keep your future financial aspirations in mind as you make this difficult but important decision.