Jiivana-LIFE-Yoga dba Spiritual Essence Yoga & Wel | Application Preview
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General Information
Business Registration Number: 27-4290991
Location: Upper Marlboro, MD, United States
Length of Operation: 11plus
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $250k to $500k
Open to Loans: YES
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Funding Usage
I intend on using grant funding primarily for updating equipment for virtual classes, marketing, advertising and hiring new employees. Here is the exact cost breakdown: 1. $3,500 per month for social media ads on Instagram, Facebook and LinkedIn. 6-month investment: $21,000 2. $1,500 per month for Google Ad campaigns. 6-month investment: $9,000 3. Hire a social media manager to setup and manage ad campaigns and SEO. 6-month investment: $21,000 4. Hire two dedicated staff members at $20 an hour, 25 hours per week. 6-month investment: $24,000
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Business Plan
Funding would allow the business to expand in the following ways in the next five years: Year 1: Marketing efforts will bring more awareness to the brand thus increasing both in-studio and online student base. Years 2-3: Combine both studio spaces into one location and expand offerings to include a tea bar and apothecary. Years 3-4: Create franchising option for the business Year 5: Build a retreat facility to host retreats and rent out space to other wellness-based businesses for their retreats and events. I became a small business owner in 2003 because I wanted to serve my community in meaningful ways. Initially it was my intention to teach yoga to my family and friends only, but it soon grew due to raves and referrals. I decided to turn my passion into a business and since 2003, I have been working hard to create structure, strategy and consistency in order to do this work I was led to do. I've worked tirelessly to learn ways to keep the business running by taking courses, seeking mentors and reading everything I can. Even though I've learned a lot from being in business for 20 years, I know there is more I can learn to grow the business into the worldwide success I know it is capable of being. I have a passion for people and supporting them every step of the way. My personal experience and education in all that I do has allowed me to operate at the level of an expert. I've trained over 500 people in yoga and even more in various healing arts. More and more people are seeking yoga as a way to find mental balance and physical health. The after effect of the pandemic has left many searching for ways to reduce stress and anxiety. My work for the past 20 years allows me to offer safe, accessible and simple solutions for all - regardless of background. An investment in Spiritual Essence Yoga & Wellness is an investment in the happiness, health and wellbeing of those seeking relief and balance for years to come.
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Self Identified Competition
My top 3 competitors are Sankofa Yoga, Replenshish Yoga & Meditation and Shabach Yoga. These studios are located within 25-miles of the studio. The owners of the studios began as students and trainees of my business. What makes me different from my competitors is I have personally trained them all. My knowledge of yoga and meditation and time spent as a business owner has gained me a huge level of respect from my competition and the community. Spiritual Essence Yoga & Wellness was the first black owned yoga studio in Prince George's County and is considered the nucleus for all other yoga offered in the county.
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