The Yoga Coop Business Plan

1.0 Executive Summary

The purpose of this business plan is to raise $100,000 for the development of a worker owned, community wellness center while showcasing the expected financials and operations over the next three years. The Yoga Coop is a Jacksonville based cooperative that will provide yoga instruction, classes and a variety of wellness services to customers in its targeted market. The Yoga Coop was founded in 2015.

1.1 Products and Services

As stated above, The Yoga Coop will provide customers with an expansive line of yoga classes and healing services which work to cleanse and harmonize the body by way of time tested techniques and methods. We anticipate that these services will ultimately generate approximately $10,000 of revenue for the business on a monthly basis. Thai Yoga Today will initially employ one full time yoga instructor and one healing practitioner to provide these services. While actively working to build clientèle and brand loyalty to be able to recruit other teachers and practitioners who are interested in working cooperatively and owning their modes of production.

The Yoga Coop will always work to provide health-care from the perspective of social justice; ensuring equal access to all our community members by providing services on a sliding scale and by offering Community Days where all services and classes will be offered by donation. Thai Yoga Today will also generate revenue from the sale of beverages, yoga mats, books and apparel that compliment the Company’s core line of services.

The third section of the business plan will further describe the services offered.

1.2 The Financing

The Yoga Coop is seeking to raise $100,000 from the Ideal Cooperative micro-lending platform and internal investments. The interest rate and lending agreement are to be further discussed during negotiation. Part of this will be reinvested into Ideal Cooperative for it’s administrative services in the start up period.

1.3 Mission Statement

The Yoga Coop strives to offer affordable and inclusive holistic wellness services in the Urban Core of Jacksonville Florida.

1.4 Management Team

The Yoga Coop was founded by members of Ideal Cooperative. Namely Siddie Friar, Alan Jackson and Kenny Keating.

Siddie has more than 10 years of experience combined in yoga instruction, Thai yoga and yoga studio management. Through her expertise, and notoriety within the healing community she will be able to bring the operations of the business to profitability within its first year of operations.

Alan has over ten years of experience in the service industry, ranging from fine dining atmospheres to franchise management. Alan has dedicated the last five years as a full time volunteer working on various social justice campaigns, including a community supported publishing project. Alan has both the experience and the drive to develop and implement efficient processes for cooperative management and training.

Kenny and Alan will fill administrative roles as Ideal Enterprise Agents until the Cooperative is able to hire and train the required staff.

1.5 Sales Forecasts

our sales and development committee expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years. We anticipate a soft launch in August and a hard launch/grand opening in September.

3-6 months – $5000.00 per month gross sales
7-12 months – $10000.00 per month gross sales
13-24 months – $20000.00 per month gross sales
25-36 months – $45000.00 per month gross sales

1.6 Expansion Plan

The Founder expects that the business will aggressively expand during the first three years of operation. Our sales and development committee intends to implement marketing campaigns that will effectively target individuals within the target market.

2.0 Company and Financing Summary

2.1 Registered Name and Corporate Structure

Thai Yoga Today

River City Yoga Cooperative

The Yoga Cooperative

Jacksonville Yoga Coop

River City Wellness Cooperative

The Wellness Cooperative

Thai Yoga Today is a worker-cooperative, registered as a _____________ that is managed in accordance with its bylaws set forth by the worker body.

2.2 Required Funds

At this time, the Yoga Studio requires $100,000 of debt funds. Below is a breakdown of how these funds will be used:

  1. Purchase or rental of commercial space; currently planning to rent 500 sq. ft at 42 West Monroe at $600/month for 1 year ($7,200)
  2. Licensing, Permits and insurance requirements;
  3. Accounting, Legal and Real Estate fees
  4. Ideal Cooperative Administrative Fees
  5. Inventory for the Boutique including; books, water bottles, mats, apparel and locally sourced body products.

2.3 Investor Equity

Thai Yoga Today is currently being seeded by Ideal Cooperative. Part of that comes from a personal loan of $1,500 from Linda Friar and is actively seeking investment from other supporters within the community.

2.4 Management Equity

Thai Yoga Today is a worker cooperative, it is collectively owned and managed by it’s membership. Currently membership includes Siddie Friar, Alan Jackson and Kenny Keating.

2.5 Exit Strategy

If the business is unable to meet the stipulations of repayment of return on investment via Ideal Cooperative, an evaluation of the Cooperatives performance which may result in administrative or sales training, or, faced with insolvency action will be taken to dissolve the company and transfer the membership to other suitable enterprises within the Ideal Cooperative membership network.

3.0 Products and Services

Below is a description of the yoga instruction and class services offered by the Yoga Studio.

3.1 Yoga Instruction and Classes

Thai Yoga Today will offer several styles of yoga classes, including: Gentle, Classic Hatha, Vinyasa Flow, Power Vinyasa, Yoga Nidra and Meditation. These styles represent different approaches to yoga with varying levels of technical difficulty and strenuousness. The Company’s eclectic continuum of yoga classes allows the Yoga Studio and its instructors to continuously challenge students both physically and mentally as they deepen their practice and achieve proficiency. The Yoga Studio will allow each of its teachers/instructors to use their experience, training and creativity to inform the direction of their classes, rather than dictate how each class must be taught. From the instructors’ perspective, they get the freedom to be themselves while sharing their unique passion for yoga. From the students’ perspective, the Company offers a variety of classes and interpretations helping to keep their practice evolving and fresh from day to day and year to year.

3.2 Thai Yoga and Healing Bodywork

Thai Yoga Today will offer an ever expanding variety of healing services. Thai Yoga Therapy is the feature service we offer. This modality is a very deep and nurturing style of healing work that provides immense benefits to the receiver. In addition, the company will offer Reiki and Reflexology services. As we grow we will expand our offering and licensing capabilities but we believe that a slow grow with focus on a few core aspects of wellness is the best move for our business.

3.3 Retail Sales of Yoga Related Products

In addition to providing yoga services, the Company will also sell bottled water and yoga mats as complimentary items. Items to be sourced from such providers as Manduka Mats, I Love Yoga apparel, and more. Management expects that 10% of the Company’s aggregate revenues will come from this revenue stream.

4.0 Strategic and Market Analysis

4.1 Economic Outlook

This section of the analysis will detail the economic climate, the yoga industry, the customer profile, and the competition that the business will face as it progresses through its business operations.

4.2 Industry Analysis

Sample:

Day spas (which included yoga studios) provide the US economy with over $12 billion dollars a year of revenue. Revenues directly from yoga instruction are estimated to generate $2 billion dollars per year. Nationwide, there are over 33,000 businesses that focus on providing massage and non-medically oriented spa services. Additionally, the industry employs more than 378,000 people and provides average annual payrolls of $2.8 billion dollars per year. This industry has exploded as the economic tastes of Americans have changed significantly over the last five years as the overall wealth of the country has grown. As Americans now have more access to capital and an increased borrowing capacity, their ability to spend money on brand name and luxury items/services has also increased. In the last five years, gross annual receipts from yoga studios have increased 40% with the number of studios increasing by 20% during the same period. This trend is expected to continue as the economy remains strong.

4.3 Customer Profile

Thai Yoga Today is looking for life long customers. People who are primarily from working/middle class demographics, who work or live within a 20 mile radius of the center, and who generate over 20k annually. Additionally, we will cater to lower income brackets by offering high quality services on a sliding scale, offering special Community Days where services are offered by donation to maintain our commitment to social justice and equality. We will also offer special programs and special rates for people who reside in the downtown area.

Sample:

In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.

4.4 Competitive Analysis

Thai Yoga Today is the first and only worker cooperative wellness center in the Jacksonville area. We are committed to health-care with a social justice bend. Striving to make personal care something that is accessible to everyone while maintaining a quality and consistency that the highest paying members will come to expect from the brand. In this way, Thai Yoga Today stands apart from the crowd by providing stable employment, competitive wages by way of ownership opportunities, and connection to a larger network of cooperatives through the Ideal Network. Additionally, Thai Yoga Today will be the only studio located directly in the Urban Core, we will have direct access to the business professionals of multiple office buildings and 11 housing different housing developments. An additional resource is in the Downtown Vision Inc. who will assist with promotion, highlighting special events, including Thai Yoga Today on maps for downtown exclusive events and more. We plan to work with the establishments both long standing and up and coming to ensure that downtown continues to move towards the thriving city center all of us know it can become. There are a few studios nearby though none directly downtown; in San Marco we have Bliss Yoga Shala, providing vinyasa classes, various workshops and teacher trainings and Radiance San Marco a Bikram studio. We do not feel that we are in competition with these places as they cater to different clientèle and are are of a specific lineage. In the Riverside area we have Surya Yoga in 5 points, offering a handful of classes a week and Unity Plaza which is out most direct competitor offering free yoga classes daily. We feel that yoga shouldn’t be competitive and that we will work to establish relationships with these studios and owners where none exist and encourage students to find teachers and styles that fit their unique needs and abilities.

Sample:

This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.

Market Strategies

Sample:

Market strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.

5.0 Marketing Plan

5.1 Marketing Objectives

1. Establish relationships with physicians, chiropractors, and other allied health professionals that will refer their patients to yoga classes at the Yoga Studio.
2. Implement a local campaign with the targeted market via the use of flyers, local newspaper advertisements, and word of mouth advertising. Leveraging connections in Folio Weekly, Natural Awakenings and MetroJacksonville.com
3. Build an online presence by developing a website and placing Thai Yoga Todays’ name and contact information with online directories.
4. Set Thai Yoga Today apart from the pre-exisitng yoga studios in the Jacksonville area by high-lighting their commitment to the health of the community physically, spiritually and economically.

5.2 Marketing Strategies

Thai Yoga Today intends on using a number of marketing strategies that will allow the Yoga Studio to easily reach everyone within the target market and will dedicate resources to opening new market potentials. These strategies include traditional advertising, internet advertising and grassroots marketing campaigns. Below is a description of how the business intends to market its services to the general public. Thai Yoga will also use an internet and grassroots based strategy. This is very important as many people seeking local services, such as yoga studios, conduct their preliminary searches on the Internet and through inquiry and referral from within networks of people the customer already knows. Thai Yoga Today will be registered with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing the types of yoga offered by the business, pricing information, location information, and how to contact the Yoga Studio. The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the yoga instruction and yoga classes that Thai Yoga is selling. We will also be putting together brochures and pamphlets to distribute through the multiple housing units in the downtown area, we will reach out and teach special classes in select complexes to generate interest with the residents. We will work with the Down Town Vision project to amplify our marketing and get more people downtown. We will offer special rates for residents of the downtown area.

5.3 Pricing

Yoga Classes – $10 per session
Multi Class Pack – 10 sessions for $80 (exp. 180 from time of purchase)
Monthly Class Pass (auto debit, unlimited classes) – $100
60 minute Thai Yoga – $70
90 minute Thai Yoga – $120
60 minute Reiki – $50
90 minute Reiki – $70
60 minute Thai Foot reflexology – $80
Monthly Massage Membership (up to 4 massages a month, transferable) – $200
Community Service Days Weekly on Wednesday’s

  • sliding scale for all services $45 – $150
  • sliding scale for all classes $5 – $15

6.0 Organizational Plan and Personnel Summary

6.1 Corporate Organization

Thai Yoga Today is a worker-cooperative according to these standards laid out by the International Association of Cooperatives.

6.2 Organizational Budget

6.3 Management Biographies

Siddie Friar is the sole practitioner at the onset of this business. She began studying yoga in 2005 and fell in love. She took her first training with MBody Yoga, a Baptiste Power Vinyasa studio on the Southside of Jacksonville under Mark White. She received her 200 hour certification, created a volunteer program for the studio, acted as General Manager and an independent contractor to open up MBody’s second location in Neptune Beach in 2008. She went on to study massage at the Florida School of Massage in 2009 and graduated in 2010 decided to focus on Thai Yoga. She studied with her friend and mentor, Ariela Grodner, for 2 years intensively before moving back to Jacksonville where she began to work at Ananda Kula. She was both a teacher and bodyworker there on and off from 2011 – 2013. She has traveled extensively sharing yoga and healing bodywork at festivals and other gatherings, she has led a multitude of workshops ranging from beginners basics, meditation, partner yoga, and more. Siddie strives to keep yoga practical and accessible for people who are not necessarily interested in the spiritual aspect, keeping her classes grounded in the physical and encouraging playfulness in the approach to personal health. She looks forward to introducing a consistent yoga program into the Urban Core and has been warmly welcomed by the community there thus far.

Sample:

In this section of the business plan, you should write a two to four paragraph biography about your work experience, your education, and your skill set. For each owner or key employee, you should provide a brief biography in this section.

7.0 Financial Plan

7.1 Underlying Assumptions
Sample:
The Yoga Studio will have an annual revenue growth rate of 16% per year.

The Owner will acquire $100,000 of debt funds to develop the business.
The loan will have a 10 year term with a 9% interest rate.

7.2 Sensitivity Analysis

Sample:

The business’s revenues are somewhat sensitive to the overall economy. The Yoga Studio is offering non-essential yoga studio services to a middle income earning group. As such, in the event of a general economic decline, the Company may have a decrease in its revenues. However, the profit margins generated by the Company are high enough to ensure that even a significant economic recession will allow the business to operate profitability and cash flow positive.

7.3 Source of Funds

A loan of $1,500 has been secured from Linda Friar
A gift of $1,000 has been offered by a supporter in the community

7.4 General Assumptions

7.5 Profit and Loss Statements

7.6 Cash Flow Analysis

7.7 Balance Sheet

7.8 General Assumptions

h3. 7.9 Business Ratios

Competitive Analysis

Sample:

The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

Design and Development Plan

Sample:

The purpose of the design and development plan section is to provide investors with a description of the product’s design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.

Operations and Management Plan

Sample:

The operations and management plan is designed to describe just how the business functions on a continuing basis. The operations plan will highlight the logistics of the organization such as the various responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.

Our approach to creating a solid and fully-realized operations strategy will be the bottom-up approach wherein small incremental adjustments are made as a response to stimuli in the ground-level operations. This will generate a set of patterns that will comprise the corporate, business and functional strategies of the Cooperatives operational and management plan.

Corporate level strategy

Corporate level strategy is the highest level of strategy. It sets the long-term direction and scope for the whole organization.
If the organization comprises more than one business unit, corporate level strategy will be concerned with what those businesses should be, how
resources (e.g. cash) will be allocated between them, and how relationships between the various business units and between the corporate centre and the
business units should be managed. Organizations often express their strategy in the form of a corporate mission or vision statement.

  • What businesses shall we be in?
  • What businesses shall we acquire or divest?
  • How do we allocate resources between businesses?
  • What is the relationship between businesses?
  • What is the relationship between the centre and the businesses?

Business level strategy

Business level strategy is primarily concerned with how
a particular business unit should compete within its industry, and what its
strategic aims and objectives should be. Depending upon the organization’s
corporate strategy and the relationship between the corporate centre and its
business units, a business unit’s strategy may be constrained by a lack of
resources or strategic limitations placed upon it by the centre. In single
business organizations, business level strategy is synonymous with corporate
level strategy.

Business

  • How do we compete in this business?
  • What is the mission of this business?
  • What are the strategic objectives of this business?

Operational Objectives

  1. Cost: The ability to produce at low cost
  2. Quality: The ability to produce in accordance with specification and without error.
  3. Speed: The ability to do things quickly in response to customer demands and thereby offer short lead times between when a customer orders a product or service and when they receive it.
  4. Dependability: The ability to deliver products and services in accordance with promises made to customers (e.g. in a quotation or other published information).
  5. Flexibility: The ability to change operations. Flexibility can comprise up to four aspects:
    1. The ability to change the volume of production.
    2. The ability to change the time taken to produce.
    3. The ability to change the mix of different products or services produced.
    4. The ability to innovate and introduce new products and services.

Operations will aim for flawless execution of these objectives, not trading-off or lowering the expectations of excellence between the stated objectives.

Functional level strategy

The bottom level of strategy is that of the individual function (operations, marketing, finance, etc.) These strategies are concerned with how each function contributes to the business strategy, what their strategic objectives should be and how they should manage their resources in pursuit of those objectives.

Function

  • How does the function contribute to the business strategy?
  • What are the strategic objectives of the function?
  • How are resources managed in the function?
  • What technology do we use in the function?
  • What skills are required by workers in the function?

Levels of strategy

Consistency (Is the strategy consistent…?)
Contribution to competitive advantage (Does the strategy…?)

  • Between the operations strategy and business strategy
  • Between operations strategy and the other functional strategies
  • Between the different decision areas of operations strategy
  • Enable operations to set priorities that enhance competitive advantage
  • Highlight opportunities for operations to complement the business strategy
  • Make operations strategy clear to the rest of the organization
  • Provide the operating capabilities that will be required in the future

Human Resources

Staffing

Benefits

Financial Factors

Sample:

Financial data is always at the back of the business plan, but that doesn’t mean it’s any less important than up-front material such as the business concept and the management team.

  • Overhead
    • Rent $600/month $7,200/annually
    • Utilities approx $150/month auto debit
  • Practitioner Licenses
  • Continuing Education Units
  • Insurance
    • Property Damage
    • Personal Liability
 
feral_fairy
2015-06-30

Here is a link for the website I ripped this outline from
 
   
feral_fairy
2015-07-11

Thai Yoga Today
Start Up Fees

Deposit to secure space $300
Deposit/1st Month rent $900
Jax Business App. Fee $25
Business License $
Business Registration $175
Liability Insurance $750 – 900 annually (awaiting quote)
JEA $500 for commercial space, can be waived if signed up for auto-debit
Business Bank Accnt $100 to open account plus $25 return if we go with the same bank as my personal account
Supplies $300-$500
* mats
* retail products
* décor
* payment portal
* cubbies for personal items
* water dispenser/cooler
* sound system

Loans from supporters

Linda Friar $1500
No interest
Repaid over the course of 15 months beginning 3 months after opening (November 2015) at the rate of a minimum of $100 a month. Payments are made by check mailed to the lender.

Sohrab Fracis
(to be solicited)
asking $1500