Yoga Therapy Bar LLC | Application Preview
Yoga Therapy Bar LLC is seeking government grant funding to support approximately 5 to 6 months of business operations, particularly to recover from the financial impact of the pandemic shortly after its opening. The funds will primarily cover rent at $4,500 per month, digital and social media marketing at $350 per month, and website SEO optimization at $650 per month.
The business plans to hire an administrative assistant and yoga teacher in 2024, with plans for a physical therapist in 2025. Additionally, it aims to expand corporate wellness services to manufacturing companies, provide online yoga and Pilates classes, increase public speaking events from 2 to 4, and open a second location in a neighboring county by 2026.
Approval for funding is crucial as the business was launched just before the pandemic hit, forcing it to use most of its savings to remain operational. Support from organizations like SCORE, SBA, and SBDC has been instrumental in its survival. The owner believes that with adequate funding, the business can thrive, offering sustainable, profitable services that enhance the physical and mental health of the community.
In terms of competition, the business faces traditional yoga studios and physical therapy clinics in the area. However, its competitive advantage lies in providing comprehensive holistic health and wellness services that address both physical and mental health, unlike competitors who focus solely on physical therapy. The diverse specialties offered allow the business to cater to a wide demographic, including children, adults, seniors, and individuals with disabilities.
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General Information
Business Registration Number: 831618614
Location: Clemson, SC, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Grant usage to assist with approximately 5 to 6 months of operations to scale business and recover after opening 3 weeks prior to pandemic start: rent $4500 per month digital/social media marketing $350 per month website SEO optimization $650 per month
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Business Plan
- hire administrative assistant and yoga teacher in 2024 -hire staff physical therapist in 2025 - expand corporate wellness services to manufacturing companies for contracting (my business is certified as WBE, MBE, WOSB, and SAM). - provide yoga and Pilates classes online -increase public speaking (key notes) events from 2 in 2023 to 4 in 2024 -open second location in neighboring county in 2026 - I opened my business in February 2020 (3 weeks before covid began). - I used most of my business savings to keep my business open during the pandemic. - I have managed to survive the pandemic due to assistance from SCORE, SBA, SBDC, and other organizations that have provided me mentorship, consultation, and overall support. - Even though I did not get a good start I feel that I can truly make my business sustainable, profitable, and able to service and improve the physical and mental health of my community if I have adequate funding.
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Self Identified Competition
Solshine Yoga - traditional yoga studio located in same town. ATI - physical therapy clinic located in same town. Off the Block PT- cash based physical therapy clinic located in neighboring town. I provide holistic health and wellness services that targets physical and mental health and wellness comprehensively. My competitors focus on physical health solely. I also provide multiple specialties unlike my other competitors such as: hand therapy, women's health, pediatrics, special needs, geriatrics, exertion and therapy. Therefore, I am able to service kids, adults, seniors, athletes, and those with disabilities.
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Contact Applicant
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