MGMT255 Small Business Management
December 10, 2011
Product/ Service & Target Market
Carefree Yoga is a Yoga studio located in the Namao area in Edmonton, Alberta, Canada. Carefree yoga provides Primarily Yoga classes and additional classes for dance and Pilates. Are services target families in the area but specifically females from early teens and up, as well as mothers with busy schedules? A daycare services is also offered for those moms that need a place to keep their children supervised while they take our classes. Carefree Yoga Studio will provide a broad number of classes that pertain to training the body via yoga and related stretching practices. The business will generate income from the ongoing fees associated with yoga classes at the studio while concurrently generating secondary revenues through the sale of yoga mats and related accessories used during the course of yoga training. Our instructors provide hands on support and knowledge to our clients. The classes make the client feel at ease and peace with one’s self. The everyday typical woman and mothers life is vastly increasing stress. As well the pressure to stay healthy and look good is constantly a concern at the end of their day. Regardless of how much they work, cook, clean etc… The female demographic is constantly striving to succeed at any and everything. There is a very slim to none chance that a yoga studio located in this area would not succeed. The demand for physical activities is high especially when the weather gets as cold as it does in Edmonton living indoors may make a person feel Closter phobic and stressed, so yoga would be a great escape. Industry
The current economy has remained difficult over the past few years. However, Yoga Studios have fared well despite the current economic issues. This is because yoga, by its students, as seen as an integral part of their lives. As such, the Yoga Studio will be able to remain profitable and cash flow positive in any economic climate. Within the United States, there are approximately 10,000 locations that operate as Yoga Studios. The popularity of yoga has increased substantially over the past ten years as more Americans have become concerned with their fitness. The excepted growth rate of the Yoga Studio industry is expected to remain in line with that of the general American economy. Competition
Carefree Yoga studio has 2 major competitors. One being direct and another being indirect. The YMCA located in Castle Downs would be the direct competition considering it’s the closest facility near the Namao center neighborhood. They have been around for many years and target families in this community. Carefree Yoga studio’s classes are spacious and have a very relaxing atmosphere. The indirect competition would include Spa Lady and various Yoga studios and gym in the downtown area. They are more of a high end type of studio and may be located close to the workplaces of our Namao center community residence. “Our services have unique features and benefits that separate us from our competitors. Our services have unique features and benefits that separate us from our competitors. Carefree Yoga studio’s classes are spacious and have a very relaxing atmosphere. Our displayed fountain gives a naturist outdoor feel. The sounds displayed are tranquil and welcoming to all clients. A separate steam room is available to all clients as a finishing touch in addition to their yoga class.” Management
The Company was founded by Amanda Fakhreddine Mrs. Fakhreddine has more than 10 years of experience in the yoga instruction industry. Through her expertise, she will be able to bring the operations of the business to profitability within its first year of operations. Financial
The company is expect to generate about $355,000 at the end of the second year with very low overhead. The objectives of Carefree Yoga are the...