District Yoga And Fitness

Feben Gebremichael, Morgan Iacolucci, Alan Kuo, Linda Li, Risa Ochiai, Yile Peng

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AboutDistrict Yoga and Fitness

Year Founded: 2013

Class Offerings: Bikram and Vinyasa

Owner: Whitney McCormick

Co-partners: Brooke Davies and Adam Pearlstein

Customers: clients passionate about maintaining overall health and wellness through yoga and fitness.

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Scope

1. Prepare SWOT analyses and analyze our client’s finances

2. Research methods to reach new customers, specifically UW students, and locate a feasible partnership within the UW

3. Provide guidance on business sustainability and business strategy

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1.Central Issues

2.Recommendations

3.Impact of Recommendations

4.Conclusion

Agenda

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ProblemResearchSolution

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Problem Research Solution

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ProblemResearchSolution

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Problem Research Solution

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ProblemResearchSolution

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Problem Research Solution

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1Expandable Online Presence

2 Potential to Gain UW Students

3Revenue Growth

Current Issues

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Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

Problem

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

District Yoga was experiencing Inconsistent attendance and low traffic.

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Problem

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Research

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Research1

On

line

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Website

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Recommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

Current Value Proposition 1

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Rejuvenation,

Community,

Balance

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Recommendation

New Value Proposition

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Summary

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

ProblemOnline Presence is ineffective

Research#getbent206 Analyzed competition’s online presence

Solution“Rejuvenation, Community & Balance”

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Only 15% of current customers are UW students

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Problem

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 316

Lack of UW

Students

Research

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Online survey55 responses from UW students

▷ Satisfied with existing free UW facilities

▷ While 27.3% UW students answered $0, 32.7% would spend $5-15 per a month

Lack of UW

Students

“I don't live on campus anymore, so I wish I can still use the West Campus Gym (in Elm Hall) because IMA is kinda far from where I'm living right now”

- UW Student

Research

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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▷Understand the demographic well▷Low Cost, High Return▷ Increase the awareness on campus

Many UW students (especially freshmen and sophomores) seek out internship opportunities around campus even if it’s non-paid

Lack of UW

Students

UW Student Ambassador

Recommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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▷ HuskyJobs

- The official platform to recruit UW students- $25 to post a 30-day posting- Takes about 2-3 days for registration

▷ Jobs and Internships Facebook Group

- The unofficial platform but still has a lot of traffic- Easy access and free- Many UW students have an access to the group

Recruitment

Recommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Student Brand Ambassador Functions

UpdatingSocial Media

Marketing/Promotion on campus

Work on partnership with RSOs

Lack of UW

Students

Lack of UW

Students

Recommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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RecommendationUW Student Ambassador

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Summary

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

Problem/IssueLack of UW Student Clientele

ResearchDistrict Yoga’s location is prime for UW students

SolutionTarget Market Outreach can be facilitated by the instituting a District Yoga Student Ambassador/Intern Program

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▷Negative Monthly net revenue

▷Ways to Generate Revenue from other sources

Problem3

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Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 324

Research

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Workshops / Themed EventsRecommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Recommendation

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

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Weekday Weekend

Attendance+%10-15 percentevery six months

Themed Events +$1000 each month

Workshops+$600 each month

(two workshops each month)

Impact

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 328

2X in Revenue21% profit margin by the end of 2018

Increase AwarenessHave more presence in community around U-District

Establish ValueMake experiences unique to District Yoga

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 329

1Expandable Online Presence

2 Potential to Gain UW Students

3Revenue Growth

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Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 3

Conclusion

Recommendations

Our Findings Impact

Conclusion

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 331

ConclusionImmediateUpdate website with new value proposition“Rejuvenation, Community & Balance”Begin developing workshops

Short TermBrand AmbassadorDevelop relationships with RSOs such as FIUTsWeekend workshopsConduct test period for workshops

Long TermDevelop an instructor training programFull implementation of workshops

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 332

Questions?

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Appendix

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”I guarantee you, yoga will compete with computers, music, sports, automobiles, the drug industry. Yoga will take over the world!”

Bikram Choudhury

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ProblemCurrent Traffic

ProblemRecommen-dation

Impact ConclusionResearch

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ResearchClass Schedule

3 In

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ProblemRecommen-dation

Impact of Recommendations

ConclusionResearch

Monday - Friday Weekend

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2014 Jan-Jun

2014 Jul-Dec

2015 Jan-Jun

2015 Jul-Dec

TotalRevenue $7,240.18 $5,445.74 $8,314.67 $8,309.56

TotalExpense $13,294.80 $11,634.00 $11,634.00 $11,634.00

Net Profit-$6,054.62 -$6,188.26 -$3,319.33 -$3,324.44

Profit Margin -83.63% -113.63% -39.92% -40.01%

Current Trends

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 338

2016 Jan-Jun

2016 Jul-Dec

2017 Jan-Jun

2017 Jul-Dec

2018 Jan-Jun

2018 Jul-Dec

TotalRevenue

$8,300.00 $8,300.00 $8,300.00 $8,300.00 $8,300.00 $8,300.00

TotalExpense

$11,634.00 $11,634.00 $11,634.00 $11,634.00 $11,634.00 $11,634.00

Net Profit

-$3,334.00 -$3,334.00 -$3,334.00 -$3,334.00 -$3,334.00 -$3,334.00

Profit Margin

-40.17% -40.17% -40.17% -40.17% -40.17% -40.17%

Worst Case Scenario

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 339

2016 Jan-Jun

2016 Jul-Dec

2017 Jan-Jun

2017 Jul-Dec

2018 Jan-Jun

2018 Jul-Dec

TotalRevenue

$9,035.81 $10,865 $12,784 $14,802 $15,930 $17,180

TotalExpense

$11,567 $11,507 $11,453 $11,404 $11,360 $11,321

Net Profit-$2,531 -$641 $1,331 $3,397 $4,569 $5,858

Profit Margin

-28% -6% 10% 23% 29% 34%

Best Case Scenario

Central Issues

Impact ConclusionOnline 1 UW clients 2 Revenue 340