Membership growth?

Kay Rae started this discussion · 8/28/2015

I'm taking entrepreneurial finance in college, and chose to create a fake yoga studio (only because I didn't think pole would be approved in that setting lol) and need to make income statements, monthly for the first year, and annually for years 2 and 3. I need help estimating membership growth. I originally chose to start with 15 and grow by 10 monthly for the first year, and then was told my projections must be justified. I can find overall industry revenue growth per year, but nothing for one start-up. Can anyone help, or point me in the right direction? Thanks!

1 reply

tigerlillies · 8/29/2015
What type of yoga? That plays a part since there are so many forms some places make tons because they offer the newest craze and such also hiw many classes a day how many types offered all of this plays a part in getting and keeping customers and in your revenue. How many teachers will you ha e what will be their pay that is going to determine what you end up with. Also for most businesses the first 2 to 3 yrs are the hardest dont see too much of a profit thats why many fail. Think a out those questions and that should help you some come up with your figures as well as location and rent cost.