V. Competitive Analysis
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Direct & Indirect Competitors
Established in 2013, Affordable Yoga was founded on the idea that everyone deserves the opportunity to practice yoga, regardless of means. This studio provides classes solely on a donation basis. Because its students give generous donations, the studio gives half of all proceeds to different local nonprofits each month.
The studio offers private yoga, as well as a weekly class schedule. Weekly classes are held on Wednesdays from 6:30 to 7:30, Saturdays from 9:30 to 10:30, and Sundays from 6:30 to 7:30. The suggested donation for these classes is $10-20.
CLV Yoga Studio
Established in 2015, CLV Yoga Studio is housed in a 3000 sq ft space where it provides a variety of yoga class styles, including Doga (yoga with a dog). In addition, customers may visit the onsite spa, which offers massage, facials, and medium readings. The studio also operates a boutique, which retails a variety of products including jewelry, leggings, skin care products, and essential oils.
The Boutique at CLV offers a full line of yoga essentials for purchase. It offers several online yoga classes, as well as broadcasting Livestream classes daily at 10am and a meditation at 6pm on Facebook.
Established in 2018, Yoga Shack operates from two locations. It offers yoga classes for students at all levels, as well as massage therapy and acupuncture. Yoga Shack also provides private yoga sessions for individuals or small groups. Classes are open to club members, and the general public. It also offers multiple 200 hour yoga teacher training classes throughout the year.
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name]’s location is easily accessible. It is close to nature and has a relaxing ambiance perfect for those who are looking for a break from the city’s noise and busy life.
- Great service at an affordable price: The services offered by [Company Name] are similar in quality to its most premium positioned competitor. [Company Name] will offer these services at a much more affordable price.
- Management: The company’s management team has years of business and fitness experience, which allows them to market to and serve customers in a much more sophisticated manner than the competition.
- Relationships: Having lived in the community for 15 years, [Founder’s Name] knows all of the local leaders, newspapers and other influencers. As such, it will be relatively easy for [Company Name] to build brand awareness and an initial customer base.