Bliss Yoga Studio Final Report

Bliss Yoga Studio
Shelby McLeod
December 5 th 2014
December 5th 2014 | Shelby McLeod

Bliss Yoga Studio
Executive Summary
Bliss Yoga Studio is a hot yoga studio focused on fitness, and well-being. Bliss is located
in Swift Current Saskatchewan along the TransCanada highway. Bliss Yoga Studio offers
yoga classes of all types in order to suit many ranges of fitness. Bliss is the only hot yoga
studio in Swift Current.
Bliss has the following goals and objectives:

1. Provide valuable and enriching mind and body experiences for clients
2. Create a comfortable and family-like atmosphere
3. Offer quality yoga classes at reasonable prices
4. Create value in offerings for each individuals specific needs and health goals
Success will be determined by the following factors:

• Awareness campaign starting before the studio opens
• Continually promoting within the city as it grows
• Meeting targeted number of customers per month
• Maintaining loyal customer base
• Ensuring well trained staff who will represent the face of Bliss Yoga Studio
There are risks with marketing and reaching the targeted number of customers. It is one
thing to be able to reach these people with marketing but another to get them to actually
come to the classes. There is also high competition with direct and indirect sources. This
is a high-risk business considering the small population of only 17,000 people. To get to
capacity of almost 200, 11 percent of the population needs to come to the studio. This is
an extremely high number considering the many other options for health and fitness
located in the city of Swift Current.
The other main risk factor is if the people of Swift Current will even be interested in
participating in Hot Yoga, or if they will view it as a trend and quit after a short period of
time. It will be extremely difficult to not only attract the base case number of customers,
but to retain them as well. For these reasons, this venture will not be pursued. However,
this business could be very profitable in another city with less competition and a bigger
population to draw from.

Bliss Yoga Studio
Table of Contents
1.0 Introduction to Bliss Yoga Studio ................................................................................ 1

1.1 Value Proposition ...................................................................................................................... 1
1.2 What is Hot Yoga? ...................................................................................................................... 1
1.3 Goals and Objectives: ............................................................................................................... 1
1.4 Key Success Factors: ................................................................................................................. 2
2.0 Operations Plan ................................................................................................................. 3
2.1 Organization Structure ............................................................................................................ 3
2.2 Legal Structure ........................................................................................................................... 3
2.3 Forming A Corporation ............................................................................................................ 3
2.4 Site Location: ............................................................................................................................... 4
2.5 The Building ................................................................................................................................ 4
2.5.1 Design ........................................................................................................................................................ 7
2.5.2 Leasehold Improvements ................................................................................................................. 7
2.6 Hours of Operation .................................................................................................................... 8
2.7 Classes Offered ........................................................................................................................... 8
2.7.1 Hot Foundation: .................................................................................................................................... 8
2.7.2 Hot Foundation 2 ................................................................................................................................. 8
2.7.3 Gentle Yoga ............................................................................................................................................. 8
2.7.4 Yin Yoga .................................................................................................................................................... 9
2.8 Service Providers ....................................................................................................................... 9
2.9 Capital Budget ............................................................................................................................. 9
2.10 Operating Expenses .............................................................................................................. 10
2.11 Working Capital ..................................................................................................................... 10
2.11.1 Cash ...................................................................................................................................................... 10
2.11.2 Accounts Receivable and Accounts Payable ....................................................................... 10
2.11.3 CCC ........................................................................................................................................................ 10
2.11.4 Capacity Limitations ..................................................................................................................... 10
2.12 Licensing and Insurance ..................................................................................................... 11
3.0 Human Resources Plan ................................................................................................ 12
3.1 Required Staff ........................................................................................................................... 12
3.2 Job Descriptions ....................................................................................................................... 12
3.2.1 Manager ................................................................................................................................................. 12
3.2.2 Senior Instructor ............................................................................................................................... 12
3.2.3 Junior Instructor ................................................................................................................................ 13
3.2.4 Receptionist/Admin Assistant (Part Time) ........................................................................... 13
3.3 Recruitment ............................................................................................................................... 14
3.4 Training Program .................................................................................................................... 15
3.5 Human Resources Strategy .................................................................................................. 15
3.6 Manager Qualifications .......................................................................................................... 16
3.7 Human Resources Expenses ................................................................................................ 16
4.0 Marketing Plan ............................................................................................................... 17
4.1 Positioning Statement ............................................................................................................ 17
4.2 Industry Overview and Market Analysis ......................................................................... 17
4.3 SWOT Analysis .......................................................................................................................... 18
4.3.1 Strengths ............................................................................................................................................... 18

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4.3.2 Weaknesses ......................................................................................................................................... 18
4.3.3 Opportunities ...................................................................................................................................... 18
4.3.4 Threats: ................................................................................................................................................. 19
4.4 Competitive Analysis .............................................................................................................. 19
4.4.1 Swift Current Fitness Industry .................................................................................................... 19
4.5 Marketing Mix ........................................................................................................................... 20
4.5 Product/Service ....................................................................................................................... 20
4.6 Placement ................................................................................................................................... 20
4.6.1 Location ................................................................................................................................................. 20
4.6.2 Décor ....................................................................................................................................................... 21
4.6.3 Market Segmentation ...................................................................................................................... 21
4.6.4 Target Markets ................................................................................................................................... 21
4.6.5 Positioning Statement ..................................................................................................................... 22
4.6.6 Positioning Chart ............................................................................................................................... 22
4.7 Pricing ......................................................................................................................................... 23
4.8 Promotion .................................................................................................................................. 23
4.8.1 Branding ............................................................................................................................................... 23
4.8.2 Initial Promotional Objectives ..................................................................................................... 24
4.8.3 IPhone and Android App ............................................................................................................... 24
4.8.4 Social Media Platforms: .................................................................................................................. 25
4.8.5 Seasonal Challenges: ........................................................................................................................ 25
4.8.6 Charity and Community Initiatives ........................................................................................... 25
4.8.7 Strategic Collaborations ................................................................................................................. 26
4.8.8 Long Term Objectives ..................................................................................................................... 26
4.9 Marketing Expenses ................................................................................................................ 26
4.10 Projected Sales ....................................................................................................................... 27
5.0 Financial Plan ................................................................................................................. 28
5.1 Financing Budget ..................................................................................................................... 28
5.2 Dividend Policy ........................................................................................................................ 28
5.3 Management Information System ...................................................................................... 28
5.4 Profitability and Cash Flows ................................................................................................ 28
5.5 Break Even Analysis ............................................................................................................... 29
5.6 Sensitivity Analysis ................................................................................................................. 29
5.7 Average Owner Compensation ............................................................................................ 30
5.8 Contingency Plan ..................................................................................................................... 30
6.0 Summary ........................................................................................................................... 31
Works Cited ............................................................................................................................ 32

Bliss Yoga Studio
1.0 Introduction to Bliss Yoga Studio
1.1 Value Proposition
Bliss Yoga Studio is a hot yoga studio focused on fitness, and wellbeing. Bliss is located
studio in Swift Current.
1.2 What is Hot Yoga?
Hot Yoga has evolved from Bikram Yoga, which is a series of 26 poses done in a room
heated to 105 degrees Fahrenheit. The series starts with two breathing exercises followed
by twelve standing poses and fourteen seated poses. The room is heated to the body’s
internal temperature so that muscles, ligaments, and tendons can be stretched out. The
heat prepares people for the stretches because it loosens the muscles quickly. The classes
are 90 minutes in length and participants are usually drenched in sweat, which has the
positive effects of releasing toxins from the body. This style of yoga was invented by
Bikram Choudry who said, “yoga is like making steel, you have to heat it, then you can
mold it” (Blake, 2000). This form of yoga also yields many mental benefits because of
the energy release and mental willpower. Hot yoga has developed since its origination
into various forms for different needs and skill levels.
Bikram Yoga is one of the most popular forms of yoga, but is not available in Swift
Current. Hot Yoga lovers are often very loyal to their studio and after they leave, come
back for more the next day. The main lesson Bliss Yoga will teach through each class is
to enjoy the journey, because it as just as important as the result.
1.3 Goals and Objectives:
• Provide valuable and enriching mind and body experiences for clients
• Create a comfortable and family-like atmosphere
• Offer quality yoga classes at reasonable prices
• Create value in offerings for each individuals specific needs and health goals
December 5th 2014 | Shelby McLeod 1

Bliss Yoga Studio
1.4 Key Success Factors:
• Awareness campaign starting before the studio opens

• Continually promoting within the city as it grows
• Meeting targeted number of customers per month
• Maintaining loyal customer base
• Ensuring well trained staff who will represent the face of Bliss Yoga Studio

Bliss Yoga Studio
2.0 Operations Plan
2.1 Organization Structure
Bliss will have one owner, Shelby McLeod, who will also function as the General
Manager. Under her will be a part time receptionist to cover the door while she is
instructing, as well as 1.5 full time equivalent employees. This will include one full time
senior instructor, and one part time junior instructor. The number of classes offered will
determine the number of employees. If there is demand for more classes, Bliss will offer
more classes outside of the regular three classes per day.
General
Manager/
Owner
Senior
Administrative Instructor
Assistant
Junior
Instructor
2.2 Legal Structure
Bliss Yoga Studio will be incorporated and Shelby McLeod will be the sole owner of
Bliss Yoga Studio. Becoming incorporated will allow for small business tax rates, create
greater access to capital, create easy transfer of shares, and limit the liability of the
shareholder – Shelby McLeod. Shelby McLeod will provide 20,000 of equity, making her
the sole owner of Bliss Yoga Studio. A 50,000-bank loan will be taken out on behalf of
Bliss Yoga Studio.
2.3 Forming A Corporation
A lawyer will be hired to incorporate Bliss Yoga Studio as a registered Saskatchewan

Company. After incorporation, the lawyer will complete Articles of Incorporation and fill

Bliss Yoga Studio
our any necessary documents. These forms will by signed by Shelby McLeod and
submitted online, after which Bliss will receive a business number from Canada Revenue
Agency to be used for payroll and tax purposes. An accountant will be hired to submit tax
returns; Shelby McLeod will do all other daily reporting.
2.4 Site Location:
Bliss Yoga Studio will be located in the high traffic north end of Swift Current. This area
is full of new development and will be one of the many businesses located in the
highlighted building that is going up.
2.5 The Building

Bliss Yoga Studio
Bliss Yoga Studio will be located in the above new building, which is in the process of
being built. The rental space will include the following:
• 2500 square foot building
• Reception area
• Hot Yoga Studio
• Foot bathrooms
• Staff/Laundry/Supply Room
• Manager’s Office
The room dedicated to Hot Yoga will need leasehold improvements to ensure it is ready
for the appropriate temperature and humidity, as well as have flooring and walls that are
anti-fungal, anti-microbial, and low VOC.

Bliss Yoga Studio

Bliss Yoga Studio
2.5.1 Design
The Design of Bliss Yoga Studio will be very modern and spa-like. The design will
encompass neutral colors and natural elements such as stone, wood, and cork. Walking
into Bliss will make you feel at home, relaxed and ready to enjoy the workout. Serene
colors and a calming environment will be key in creating this atmosphere.
2.5.2 Leasehold Improvements

Since the building will be brand new upon move in, Bliss will have the ability to put up
walls in suitable places without extra demolition costs or building costs. Building layout
will be in negotiation with the building developer and contractors. All other design
elements such as bathrooms, extra plumbing and HVAC will be at the Expense of Bliss
Yoga Studio. Bliss will install high-end front counter desks, high-end showers, sinks, and
faucets. Bliss will purchase Lobby Furniture and Décor to create a serene and welcoming
environment. A detailed description is outlined in section

Bliss Yoga Studio
2.6 Hours of Operation
Bliss Yoga Studio will be open seven days a week, offering three classes each day. The
classes offered each day are as follows:
Weekdays
6:00AM, 6:00PM, 8:00PM
Weekends
9:00AM, 11:00AM, 3:00PM
Classes are offered to fit the before and after work/school crowd during the week and in
the morning and afternoon on the weekend. This is done so that the schedule doesn’t
interfere with customer’s weekend plans, and people can come after work. Mirrors and
showers will be available in the change rooms for those heading to work after class in the
morning. Only one type of class will be offered during each timeslot.
Bliss Yoga Studio will be open every day of the week except for Christmas Day and New
Years Day. On other statutory holiday, one class will be offered during the day, which the
owner/manager will be able to cover.
2.7 Classes Offered
Four different types of classes will be offered at Bliss Yoga Studio to suit a variety of
skill levels and needs.
2.7.1 Hot Foundation:

Hot foundation is suitable for all levels and is a great class for beginners. No previous
yoga experience is required. Different variations area available during the class and
students are encouraged to work at their own pace. These yoga postures are designed to
give a workout and stretch to the entire body.
2.7.2 Hot Foundation 2

Hot Foundation 2 is for the more advanced Yogi’s looking for a challenge and to better
their practice. The same poses are done but the class will move into the more challenging
versions of each pose. A strong knowledge and experience with the basic poses is
recommended. This class will work into advanced inversions and back bends. Students
are encouraged to work at their own pace
2.7.3 Gentle Yoga

Gentle yoga is best suited for those who are looking to increase their strength, endurance,
and flexibility but who are not quite ready for the Hot Foundation class. This class is

Bliss Yoga Studio
great for seniors, or those looking for a more gentle approach to yoga, which will still
provide the same benefits as the more intense classes.
2.7.4 Yin Yoga

Yin is designed for deepening one’s flexibility and is great for all skill levels and ages.
This is a great class for athletes who need more time to stretch, or for those looking for a
restorative class in an encouraging environment.
If classes fill up to capacity, there is opportunity to offer another class at 4:00PM on

weekdays to meet demand. Other classes will also be offered if there is interest in the
community.
2.8 Service Providers
Bliss Yoga Studio will employ one Manager (Shelby McLeod), 1.5 FTE staff which
includes Yoga Instructors and a part time Administrative Assistant. Bliss will also hire
one Lawyer and Accountant to provide expertise in those areas.
2.9 Capital Budget
The following expenses will be required at start up, which are included in the capital
budget:
Capital Budget 2015 2016 2017 2018 2019

Leasehold 42,835 - - - -
Improvements
Electronics 22,000 - - - -
Furniture and Equipment 8,796 - - - -
Total 73,631 - - - -
The majority of the capital budget is made up of leasehold improvements as shown

above. This includes all associated costs with carpentry and installation, custom made
reception desk, flooring and installation, extra HVAC for the yoga room, as well as any
additional costs related to plumbing and electrical.
Electronics make up the second biggest costs. $22,000 is budgeted for the computer
system, point of sales system/IPhone and Android App/card reading system. The
equipment will be the smallest cost, making up $8,796, which includes yoga mats,
blocks, straps, studio mirrors, and cleaning products.
Refer to Appendix A for Capital Budget.

Bliss Yoga Studio
2.10 Operating Expenses
The majority of the operating expenses for Bliss Yoga Studio are fixed costs. This is
attributed to the high risk factors associated with Bliss. Wages are the only operating
expense that would be slightly variable, because they are correlated with the number of
classes offered. If bliss were to not reach the targeted number of customers, the number
of classes offered could be reduced, thus reducing wages. Wages are also the highest
operating expense.
Rent and occupancy costs are the second highest operating expense Bliss Yoga Studio
faces. This fixed cost makes Bliss vulnerable if sales do not meet projected targets.
2.11 Working Capital
2.11.1 Cash
A $25,000 line of credit will be taken out in Bliss Yoga Studio’s name to cover the
$10,00 loss in year one. This will also ensure that Bliss Yoga Studio has enough cash to
cover all of its expenses in the first year until a $24,267 profit can be made in year two.
Once net income reaches above $40,000, dividends of the remaining difference will be
paid out to shareholders. The business model will not reach this profit target until year
three. These profits are kept in the business to ensure that there is enough cash to cover
expenses, and that there is room to reinvest into the business as needed.
Refer to Appendix A for a breakdown.
2.11.2 Accounts Receivable and Accounts Payable

Customers of Bliss Yoga Studio will be required to pay for classes at the beginning of the
month in order to continue their practice throughout the month. For this reason, Bliss
Yoga Studio will have zero accounts receivable. Bliss Yoga Studio will negotiate a 14
day accounts payable, but will not have many reasons to need to buy anything after initial
startup. Majority of costs associated with the service will be wages and benefits, and will
require no cost of goods sold.
2.11.3 CCC
Bliss Yoga Studio will have a -14 days cash conversion cycle meaning that we have 14
days to pay any creditors that may arise.
2.11.4 Capacity Limitations

Capacity is limited to 30 people per class because of space requirements. At three class
offerings per day, this creates a 90 people per day capacity. On average, capacity is 194
students per month, assuming that people are paying by the month and are coming every

Bliss Yoga Studio
other day. The financial base case in Year 5 is well under capacity, only reaching 163
customers per month. This allows for room for further growth.
2.12 Licensing and Insurance
Bliss Yoga Studio will be required to obtain a Saskatchewan Business License to operate
in the city of Swift Current. No other licensing will be required.
Bliss Yoga Studio will acquire commercial tenant insurance to cover all furniture and
equipment, as well as commercial general liability insurance to cover claims against
bodily injury, property damage to third parties, and defense costs.

Bliss Yoga Studio
3.0 Human Resources Plan
3.1 Required Staff
To run day-to-day operations, Bliss Yoga Studio will need to hire 1.5 FTE staff to cover
all of the classes and reception desk duties. An administrative assistant will be hired to
share the administrative duties with the owner/manager.
3.2 Job Descriptions
Bliss Yoga Studio will employ a total of four people including the owner/manager at a
salaried wage, and the administrative assistant, senior instructor and junior instructor at
an hourly wage.
3.2.1 Manager
The manager is responsible for all activities involving Bliss Yoga Studio. The manager
must demonstrate exceptional leadership, communication and customer service skills.
Duties and Responsibilities:

• Lead yoga classes
• Establish relationships with clients and members of the community
• Manage and evaluate finances
• Provide leadership to all staff members
• Hire, train, and supervise all staff
• Organize employee schedules and manage class offerings
• Ensure studio is kept clean and organized
• Promote and support all Bliss Yoga classes
Minimum Requirements:
• Experience in managing a team
• Strong work ethic
• Customer focused
• Excellent communication skills
• Current training standards required
• First Aid/AED/CPR-C Required
3.2.2 Senior Instructor

(Part Time or Full Time)
As a yoga instructor at Bliss Yoga studio, you will guide students through postures and
breathing exercises as outlined for the class. Instructors should be hands on and have a

Bliss Yoga Studio
good understanding of how to communicate with the client and create the best and most
supportive atmosphere possible. Extra training is available upon hire.

• Lead yoga classes while adapting to needs of each client
• Collaborate with other employees to create a well rounded team
• Clean and organize studio as necessary
• Provide leadership to junior instructor
• Establish relationships with clients
• Two years experience in teaching any form of yoga
• First Aid/AED/CPR-C required
Wage Range:
$16-20/hr
3.2.3 Junior Instructor

(Part Time or Full Time)
As a yoga instructor at Bliss Yoga studio, you will guide students through postures and
breathing exercises as outlined for the class. Instructors should be hands on and have a
good understanding of how to communicate with the client and create the best and most
supportive atmosphere possible. Extra training is available upon hire.

• Lead yoga classes while adapting to needs of each client
• Collaborate with other employees to create a well rounded team
• Establish relationships with clients
• One years experience in teaching any form of yoga
• First Aid/AED/CPR-C required
Wage Range:
$12-$15/hour
3.2.4 Receptionist/Admin Assistant (Part Time)

As the admin assistant, you will be the face that clients see when they come in the door.
The administrative assistant works to support the manager with daily business activities,
greet and register customers as they come in the door, and deliver excellent customer
service.

Bliss Yoga Studio

• Establish relationships with clients and community
• Customer and sales oriented
• Help maintain social media and website
• Perform tasks with accuracy and attention to detail
• Proficient in the use or Microsoft Office
• Ability to take initiative on projects
• No experience required, previous experience an asset
Wage Range:
$12-$15/hour
3.3 Recruitment
Initial employee positions will be posted on Kijiji, Saskjobs, and Indeed. Hiring will be
completed as necessary thereafter. Internet recruiting is a cost effective way and some
places are free to post on, such as Kijiji. Internet recruiting is also a great way to reach a
large number of candidates. One study has shown that 96% of people looking for jobs use
the Internet (hrcouncil, 2014).
The initial recruitment strategy will be to hire a mix of full time and part time staff. The
Manager/Owner will conduct all initial recruitment with the help of the Administrative
Assistant once the business has been established and, as positions need to be filled.
Instructors already living in Swift Current will be targeted first and will be hired first, all
other considerations equal. This will reduce the risk of quitting and make it easier to
onboard the employees because they will already be part of the community. If the
company is unable to recruit current or non-working certified yoga instructors from Swift
Current and area, the search domain will be expanded to all of Saskatchewan in order to
find qualified employees. The lead in wage will attract people to come to work for Bliss.
Bliss Yoga Studio will take the strategy of leading the market for the senior instructor
position and to match the market for the junior instructor position. Yoga Instructors can
earn anywhere from $20,000 to $60,000 (Dixon, 2011). Mid level employees earning
about 44,420. The employees’ hourly wage will fall within the wage range for the job
description, but will depend on qualifications and experience.
The administrative assistant will be targeted through the same job sites as the yoga
instructors. This position will lag the market because there is little experience or skill
required and duties are not complex. The administrative assistant will be part time and
best suited for someone who is only looking for a part time job to make some extra
money to fill some spare time.

Bliss Yoga Studio
3.4 Training Program
Bliss Yoga Studio will have a training program for employees to complete upon
successful hire. The training program will include company mission and vision, as well
as core values, goals, and objectives. Employees will also be given a copy of their job
description and the manager will go over this during the interview and hiring process.
Employees will be required to teach a class to the Manager and other employees as a
checking system and to tweak classes to suit the goals Bliss wants to obtain. Employees
will be encouraged, evaluated and given feedback by the manager after teaching the
class. Once Bliss Yoga studio is up and running the company will be able to hire
instructors who have just taken their teaching accreditation but who have no experience.
Bliss will continue to train these new employees once hired. It is important for Bliss to
hire experienced individuals at the start of its business life in order to provide positive
and structured classes to the first customers through the door. This will be an essential
part of the marketing process and in word of mouth advertising.
Extra training will be available to employees in Saskatoon. The company will cover
training class expenses in order to encourage employees to further their knowledge and
skills in the field. Raises will be given for extra qualifications received.
Monthly meetings with all staff will be held once per month to build team cohesiveness
and to let the employees know what the goals for the month are. Every employee will
then be required to set their own personal work goal for the month and the Manager will
have a check in with them before the next monthly meeting to see how they are
progressing. This will help create a supportive and friendly environment with many
channels for the manager to coach employees, and for employees to coach each other.
Employees will sit in on each other’s classes in order to peer evaluate their classes.
3.5 Human Resources Strategy
The human resources strategy that Bliss Yoga Studio will follow is the high involvement
strategy. This strategy is based on the assumption that employees enjoy their work and
can be intrinsically motivated by their work. Bliss Yoga Studio will give ample room for
autonomy, challenge, personal growth, and professional growth. Employees will be able
to exercise self-control and self-management. Bliss must create a job for the employee
that is both interesting and challenging to them in order for the employee to gain intrinsic
rewards. Coordination must be horizontal and vertical, which will be simple considering
the small team, the monthly meetings and high amount of involvement necessary.
The role of the manager in a high involvement company is to remove barrier to effective
performance and provide adequate resources and other assistance to enable employees to
perform. Employees will be encouraged to make decisions at any level they are at in the
organization. Bliss Yoga Studio will be a supportive and empowering environment to
work in (Long, 2013).

Bliss Yoga Studio
3.6 Manager Qualifications
Shelby McLeod has had two managerial positions at two different companies and has
been teaching different types of fitness classes for over six years. She also has a Bachelor
of Commerce with a major in Human Resources scheduled for completion in December
2015. Shelby has worked in retail and has skills in customer relations, employee
engagement, communication, and strategic management.
3.7 Human Resources Expenses
Refer to Appendix A for a detailed breakdown of the human resources budget

including wages, salaries, and benefits.

Bliss Yoga Studio
4.0 Marketing Plan
4.1 Positioning Statement
Bliss Yoga studio is Swift Current only studio offering Hot Yoga. For those at any level
looking to increase overall health and fitness, Bliss Yoga Studio offers hot yoga to relax
the mind and energize the body.
4.2 Industry Overview and Market Analysis
Swift Current is a small city of about 18,000 people, and is expected to reach 20,000 by
the year 2020. (City of Swift Current, 2014) The City of Swift Current is growing
because of the strong growth in Agriculture, Manufacturing, Oil and Gas, Tourism and
Service sectors (City of Swift Current, 2014). The City of Swift Current has grown
tremendously in the last several years and has extended city limits as development has
surpassed the city boundary. The city has been undergoing a lot of construction and was
at 83 million dollars in 2012 alone. Demand for housing is high and more than 600
housing units have been constructed in order to meet this demand.
Percentage of Population
0-‐14
2990, 17%
15-‐24
4270, 24%
25-‐39
2180, 13%
40-‐60
65+
4895, 28%
3200, 18%

Bliss Yoga Studio
Swift Current is located along the Trans Canada highway, which makes it a great tourist
destination. Hotels are always busy, as well as the nearby casino and arts center. Swift
Current’s occupancy rate is significantly higher than most areas throughout the country
(City of Swift Current, 2014). This is a promising sign for the Swift Current economy
and opportunities in the retail and service industry.
The city has invested in a new Hospital and is set to build two new elementary schools, a
long-term care facility, aquatics leisure center, field house, library and art gallery. The
City of Swift Current is looking to increase the quality of life and provide benefits to all
demographics within the region. Total investment to infrastructure exceeds 80 million
dollars (City of Swift Current, 2014).
Another promising sign is that there has been an increase in the oil activity in the region
of Swift Current, and this is expected to continue. Oil Companies in the region are
expected to make significant investments into drilling programs over the next several
years. The agriculture sector has been going strong over the last several years and local
business are thriving because they are able to serve this thriving market.
4.3 SWOT Analysis
4.3.1 Strengths
Bliss Yoga Studio possesses the following strengths:
• Offers a new activity that has not been introduced to the fitness market in
Saskatoon
• Hot Yoga has been proven to help with mental and physical well being
• Provides a unique experience to customers in Swift Current
• Located in high traffic area near shopping district, hospital, mall, and many new
businesses
4.3.2 Weaknesses
Bliss Yoga Studio faces the following weaknesses
• Risk of not enough interest in this new activity in Swift Current
• Will be challenging to recruit employees in a small city
4.3.3 Opportunities
Bliss Yoga Studio could benefit from the following opportunities:
• 4.8 anticipated average annual increase in industry revenue through 2017
• Current number of yoga participants in the U.S. is 20.4 million. This is a strong
number that will most likely influence the growing Canadian trend towards an
increase in participation in the yoga industry (Ritter, 2014)
• 27 billion spent annually in the U.S. on yoga products (Ritter, 2014)
• one of the top 10 fastest growing industries (Ritter, 2014)

Bliss Yoga Studio
4.3.4 Threats:
Bliss Yoga Studio could be negatively affected by the following threats:
• Bikram Yoga is often viewed as a fad or trend
• Will be considered a first-mover for hot yoga in Swift Current, making it harder
to get customers who are unaware of what hot yoga is
• Small population to draw from
• High competition in regards to general yoga
4.4 Competitive Analysis
4.4.1 Swift Current Fitness Industry

Swift Current currently has two direct competitors including Satya Yoga and Yoga
Connexion. These studios offer many different kinds of yoga but neither of them offers
Bikram Yoga (Hot Yoga). Bliss Yoga Studio will be charging $140 per month for
unlimited classes. This is higher priced than the yoga studios in Swift Current, but is
parallel with other Hot Yoga studios in Saskatchewan. A $140 monthly-unlimited pass is
also competitive with the other more unique fitness businesses in Swift Current including
Body Fit Lounge, Crossfit Swift, and Go Divas. These companies are indirect
competitors but also fit the customers’ need for a method to increase or maintain physical
fitness.
Competitive Analysis
Name Type Price/Month Location Threat
Satya Yoga Direct $119 140 Central Ave High
Competitor
Yoga Direct $88.61 2150 Walker High
Connexion Competitor Street
Body Fit Indirect $150 406 Cheadle St Medium-High

Lounge Competitor W
Kiva Holistic Indirect $110 234 – 1st Ave Medium-Low
Health Competitor N.E
Go Divas Indirect $115 224-1st Ave NE Medium
Competitor
Crossfit Swift Indirect $200 2512 Grayton Medium-High
Competitor Drive

Bliss Yoga Studio
4.5 Marketing Mix
4.5 Product/Service
Bliss Yoga Studio offers fitness classes to a wide variety of ages in a supportive and spa-
like atmosphere. Bliss Yoga Studio is a high-end luxury studio, who will serve Swift
Current Clients.
Bliss Yoga Studio will offer four types of hot yoga classes, which include:
• Hot Foundation:
• Hot Foundation 2
• Gentle Yoga
• Yin Yoga
For a detailed description of classes, see section 2.7 Classes Offered.
Benefits of Hot Yoga include:

• Enhanced flexibility
• Injury recovery
• Stress relief
• Improved cardiovascular stamina
• Increased concentration and willpower
• Improved self control and determination,
• Increased patience
4.6 Placement
4.6.1 Location
To attract a high volume of clients, Bliss Hot Yoga Studio will be located in a high traffic
area of Swift Current, which is close to many other businesses. This is a developing area
of Swift Current where the city has plans for significant growth. This is a prime location
for a new business because it will be very visible and the signage on the outside of the
building will do a great deal of marketing for the company.
See section 4.2 Industry overview and Market Analysis for more details on the city of
Swift Current.

Bliss Yoga Studio
4.6.2 Décor
Clients will walk into Bliss Yoga Studio and feel immediately relaxed. The construction
and décor are designed to create a calm and healthy environment to practice. The décor
will focus on using elements from nature such as wood, water, and stone. Upon entrance
will be a custom build reception desk with surrounding lounge and mineral water station.
The focal point in the room will be a ceiling to floor stone waterfall.
The floors will be made of cork, which is comfortable and soft to stand on. Cork contains
anti-microbes that prevent bacteria from entering the floor (Moksha Yoga, 2014). Cork is
also a sustainable product. Radiant Heating Panels will be used to heat the studio, which
will cut energy consumption by up to 40% (Moksha Yoga, 2014). VOC-Free paints will
be used throughout the studio. VOC’s are volatile organic compounds that react with
other chemicals to form ozone once they are in the air (Moksha Yoga, 2014). State of the
art ventilation systems will be used to circulate and purify the air.
4.6.3 Market Segmentation

Bliss Yoga Studio’s primary market will be men and women age 16-40 seeking methods
to increase and maintain physical fitness. The following table breaks down the age ranges
and number of citizens in Swift Current as mention previously.
Age Group Population Percentage of

Population
0-14 2990 17%
15-24 2180 13%
15-39 3200 18%
40-60 4895 28%
60+ 4270 24%
As notes in the chart above, the primary market of 16-40 year olds make up 31% of the
population, or about 5380 people. The secondary age group of 40-60 and 60 plus will be
ideal candidates for some of the classes that Bliss Yoga Studio has to offer. Of these
market segments, Bliss will have to attract those interested in physical fitness and overall
wellbeing. Bliss will have to reach many of these people with its’ advertising in order to
find those suitable for this specific niche that is hot yoga.
The company’s target ranges from students, to stay at home parents, to working
professionals and the retired. Many of these will have different level of incomes and
needs that Bliss Yoga will be able to meet in different ways. Every customer at Bliss will
need to be willing to pay the $140 per month for a membership.
4.6.4 Target Markets

Target Market: General
This target is comprised of health conscious, fitness oriented men and women, ages 16-40
seeking methods to increase and maintain physical fitness.

Bliss Yoga Studio
Target Market: Seniors
This target market consists of swift current and area citizens who are retired or only
working part time. These people need easier classes focused on stretching, strengthening
and mobility. This is a way to prevent arthritis and osteoporosis. Seniors are often
referred to Aqua-size classes because it is easy on the body, but it still is a way to
strengthen the body. However, it is not a good way to prevent osteoporosis because it
does not use weights, only resistance training. Hot yoga uses body weight to stretch and
strengthen the body’s muscles.
Target Market: Athletes

Bliss Yoga Studio also has the opportunity to attract athletes in from the city. This
includes professional and non-professional athletes such as high school teams, and WHL
teams. This target market has a need for supplemented training in either the off days or
off-season. Bliss Yoga Studio can meet this need through giving them a way to deeply
stretch out muscles that these athletes might not have the chance to do otherwise.
Target Market: Professionals and Busy Adults
Professionals and busy adults will enjoy Bliss Yoga Studio because it will feel like a spa
retreat, and they will know that they will be doing something good for their body. These
people have a need to relax and to take care of their body that Bliss Yoga Studio will be
able to provide to them before or after work.
4.6.5 Positioning Statement

Bliss Yoga studio is Swift Currents only studio offering Hot Yoga. For those at any level
looking to increase overall health and fitness, Bliss Yoga Studio offers hot yoga to relax
the mind and energize the body.
4.6.6 Positioning Chart

The following chart shows the comparison of price and uniqueness of direct competitors
in Swift Current. As mentioned before Bliss Yoga will also face intense competition in
the health and fitness industry from many other direct competitors. Bliss Yoga Studio has
been placed as higher priced, but more unique business than its’ two other direct
competitors.

Bliss Yoga Studio
160
140 140
120 119
100
Price
88.61
80 Bliss Yoga
60 Satya Yoga
40 Yoga Connexion
20
0
0 1 2 3 4 5
Uniqueness
4.7 Pricing
Bliss Hot Yoga will use a competitive pricing strategy and will be close to the same price
as other fitness classes offered in the area. Bliss Yoga Studio will also be competitive
with Hot Yoga prices in Saskatoon and Regina so that visitors to the city can drop in
without having to pay higher fees than they usually do.
There is is a significant amount of competition in the health and fitness industry in Swift
Current as the city grows. Bliss will use a premium pricing over it’s competitors and a
competitive pricing strategy over its’ more unique indirect competitors.
Bliss will charge $140 for a month of unlimited classes. Getting the unlimited class
package will make the client a “member” of Bliss Yoga Studio. The customer will
receive a membership card, which will allow them to walk into reception, show their
card, and walk in to class, making it easy to come and go, while the receptionist takes
their name. The receptionist can then register them online in the website or app to allow
Bliss to track the number of times each member attends a yoga class
Drop in prices will also be available at $15 per class. The numbers for customers per day
in Appendix A refer to how many equivalent $140 memberships will need to be
purchased.
4.8 Promotion
4.8.1 Branding
Bliss Yoga Studio will be branded as an innovative high end and spa like studio, which
caters to any and all needs clients, may have. It is the company’s goal to provide

Bliss Yoga Studio
exceptional customer service to create that “sense of home” and community mindedness
in the studio.
Bliss Yoga Studio’s location will be a large part of the brand. Because of the location,
many passers by will see Bliss Yoga Studio. The outside entrance will entice people to
enter the building, and into the studio.
4.8.2 Initial Promotional Objectives
Awareness Campaign
One of the biggest challenges Bliss Yoga Studio will face is creating awareness of the
new business in the community. Bliss will use guerilla-marketing strategies to ensure the
community is aware of the business before the studio opens.
The awareness campaign will be executed through the use of social media, radio, flyers,
and networking events. The manager will start working on executing this strategy as soon
as construction begins. Word of mouth through the Manager’s connections in Swift
Current, and creating a Buzz will be essential to the initial and long-term success of the
business. Swift Current is a small city of less than 20,000 people so word of mouth will
be the most successful way of promoting the business if done correctly.
Grand Opening
The grand opening will be held after a month of opening its doors. This will allow for
Bliss to build up a reputation of positive customer experiences before the Grand opening
is held. Other businesses in the new building will be invited to attend this event to further
encourage a sense of community. On the day of the grand opening, there will only be one
class held at 6:00pm, and champagne and appetizer will be served in the front entrance in
an elegant display before and after the class, for those who choose to indulge. Class will
be free for everyone on that day, but only 30 people will be able to attend, since that is
the capacity of the yoga studio room.
The Grand opening will be advertised three weeks before it is actually held. It will be
advertised on social media including Facebook and Instagram. The local radio stations
will host advertisements at prime times (before work, lunchtime, and after work hours).
The advertisement will discuss the grand opening of Bliss Yoga Studio, free yoga for the
class, and a chance to win one of three unlimited one month passes. This will be a great
way to create traffic and get people in the door.
Customers will be encouraged to like and share the company on Facebook and to like
Bliss Yoga Studio on Instagram while attending this event. The event will be a great
change to network with other businesses and foster relationships with potential
customers.
4.8.3 IPhone and Android App

Bliss Yoga Studio will contract MindBody to create an IPhone/Android application so
that customers can sign up for a class wherever they are. Since classes will have a 30

Bliss Yoga Studio
person limit, people can sign up ahead of time. Class attendance will be given on a first
come, first serve basis. Members will have to either use the app or sign up online or by
phone in order to attend the class. Members can also set up recurring appointments if this
is a hassle for them. For example, if a 65-year-old woman wanted to sign up for class
every Tuesday night for the Gentle Yoga Class, she would only have to do this once as
long as her membership is in good standing. The application logo to be shown on the
customer’s phone has been designed by the manager, Shelby McLeod.
4.8.4 Social Media Platforms:

Bliss Yoga Studio will use a Website, Facebook, and Instagram and Twitter as it’s main
sources. The website will follow a blog style format that the Manager and Administrative
Assistant will be able to post on, but will also have the page to sign up for classes on. The
Instagram, Twitter, and Facebook accounts will also be linked on the website.
Posts about new offerings, trends in the Yoga Industry, Yoga clothing, and new company
initiatives will be the main topics on the media platforms. The Instagram and Twitter
handle will be @BlissYogaStudioSwift. To help with word of mouth marketing, these
will be created before the doors of Bliss Yoga studio open and will discuss renovation
updates, and sneak peaks until the day of the big reveal when the doors open.
4.8.5 Seasonal Challenges:

Extra marketing initiatives will be needed in the summer month because of the already
warm conditions. Most people are likely to come in the wintertime because coming to a
Hot Yoga class in the wintertime is like having a mini tropical holiday. When the
temperature is already 40 degrees Celsius outside, it will be difficult getting people in the
studio. The $25,000 line of credit will be used in these summer months if necessary.
However, the business expects to be slower in the summer time and can offer unheated
classes, or rent out the space to other fitness classes if necessary.
4.8.6 Charity and Community Initiatives
Bring a Friend:
A “Bring a Friend” night will happen every first and third Friday of the month.
Customers who have an unlimited membership will be able to bring a friend for free on
these nights. This will aid in the community atmosphere and bring in new potential
members.

Bliss Yoga Studio
Yoga by Donation:
Every second Friday of the month, Bliss will host a “Yoga by Donation” class. The
proceeds from this class will go towards the “charity of the month”. The charity of the
month will be announced on Facebook and members will be able to do an online vote on
Facebook to who they want the next charity of the month to be.
Both of these classes will be held in the evening, when customers are not likely to come.
This will bring more people out to class, while giving back to the community.
4.8.7 Strategic Collaborations

Bliss Yoga Studio will seek out strategic collaborations in the community. One example
would be the Swift Current Broncos. This is the city’s WHL team and is the highest form
of elite sports in the community. This would be a great way to get press. The Broncos
will be offered a group discount for a once a week practice to supplement their training.
This will be good promotion for Bliss, as well as a good deal for the Swift Current
Broncos
The company will also approach doctors, chiropractors, physiotherapists, and massage
therapists to let them know about the new studio, and to have them recommend the studio
as they see fit for certain patients. These doctors will be handed a research package
created by the manager on the benefits of hot yoga, and what it can do for patients. No
deal will be created for ethical reasons, but the manager will make sure that these people
are aware that this new business is coming to Swift Current.
Schools are another strategic collaboration that Bliss Yoga Studio will seek out. This
includes both high school and post-secondary institutes. Young people are always
looking for new ways to socialize and stay in shape, and Bliss can provide both.
4.8.8 Long Term Objectives

Creating relationships through marketing and maintaining and updated website and
Social Media platforms will be the main long-term goals for Bliss Yoga Studio. The
company will work to ensure that there is always a certain level of awareness in the
community and that we are always re-evaluating the market trends and needs.
4.9 Marketing Expenses
The implementation of the awareness campaign and initial marketing initiatives will be
imperative for the success of Bliss Yoga Studio’s success and ability to stay afloat past
the first few two years.
Refer to Appendix A for a detailed breakdown of the marketing expenses for Bliss Yoga
Studio.

Bliss Yoga Studio
4.10 Projected Sales
Schedule 2: 2015 2016 2017 2018 2019

Revenues

Number of 112 134 148 155 163
Customers/month
Number of 12 12 12 12 12
months/year
Average $140.00 $143.50 $147.09 $150.76 $154.53
Purchase/customer
Total Sales 188,160 231,437 260,945 280,842 302,256

Growth Rate 20% 10% 5% 5%
Number of
Customers
Bliss Yoga Studio is expected to receive the following number of customers if the
marketing techniques are successful. The number of customer is estimated to reach 163
members per month by 2019 (year 5).

Bliss Yoga Studio
5.0 Financial Plan
5.1 Financing Budget
Total Financing Required to cover the capital budget is 70,000. Total capital budget
expenses amounted to $73,631. Shelby McLeod will contribute $20,000 in equity, and
Bliss Yoga Studio Ltd. will take out a 50,000 loan over 10 years at a prime plus 5%
interest rate.
5.2 Dividend Policy
The Company will pay out dividends to its shareholder after net income exceeds 40,000.
The amount that net income exceeds 40,000 will be the amount paid in dividends to the
shareholder. Bliss Yoga Studio will start distributing dividends in year three because of
this rule.
5.3 Management Information System
The manager will keep a close watch on the operations of the company. This will help to
ensure that employees are following their duties, customers are being looked after,
quality of classes are up to standard, revenues and budgets are being watched, and costs
are being compared.
On a monthly basis, the manager will review:

• Number of members
• Staffing
• Customer concerns
• Budgets and financial statements
5.4 Profitability and Cash Flows
Cash Flow Statement

For the year ended 2015 2016 2017 2018 2019

Net Income (10,118) 24,267 49,194 64,669 80,290
CCA 7,786 12,035 6,826 4,337 3,096
Operating Cash Flow (2,332) 36,302 56,020 69,006 83,386
As seen in the above table, cash flows in year one are expected to be negative. This is
common in many startup businesses. However, by 2019 (year 5) cash flows reach
$83,386. Cash flows are positive through years two to five.

Bliss Yoga Studio
5.5 Break Even Analysis
The break Even analysis has been done to show the minimum number of customers per
month needed to be profitable. A loss is shown in year one by the base case dropping
below the breakeven point, but this gap positively widens in the following years.
Break Even Analysis

200
194 194 194 194 194
190
Number of Customers
180
170
160 163
155
150 148 Base Case Cust/month
140 Breakeven Cust/month
134
130
120 Capacity
116 116 115 114 114
110 112
100
1 2 3 4 5
Year
5.6 Sensitivity Analysis
The following tables show the profitability at a range of customers and at a range of price
per monthly membership. As the table shows, if only 100 customers per month are
purchasing memberships, Bliss Yoga Studio will be bankrupt. At 120 customers per
month, the business is financially feasible, but not economically feasible for the owner
because total owner compensation over 5 years is at 210,253, and she makes on average
$20.00 per hour. At this wage, Shelby could easily get a different job without taking on
all of the associated risks with starting a business. On the opposite spectrum, if the
company is able to obtain 190 customers per month, which is close to the capacity of 196,
the business is extremely economically feasible. The owner is making about 625,000 over
5 years and makes on average $60 per hour. The second variable of price charged per
membership per month results in similar outcomes.
Customers/Month Average 5 Net Payback Total Owner Average

year Profit Compensation Compensation Per
Hour
100 (27,761) (224,977) 210,253 $19.41
120 6,425.12 51,581.00 210,253 $19.41
140 37,002.97 300,782.00 323,952.00 $30.78
190 113,444.43 923,784.00 624,772.00 $59.55

Bliss Yoga Studio
Base 43,034.81 434,701.00 625,901.00 $29.45
Price/Month Average 5 Net Payback Total Owner Average

year Profit Compensation Compensation
Per Hour
$100.00 (23,873) (114,624) 210,253 $19.41
$120.00 10,484 166,789 210,253 $19.41
$140.00 43,035 434,701 625,901 $29.45
$160.00 72,990 703,594 429,607 $41.34
$180.00 104,244 971,996 548,496 $53.23
5.7 Average Owner Compensation
Average owner compensation has been used as a metric because NPV and IRR were not
appropriate measures. The NPV and IRR were irrelevant because of the very small
contribution needed to start the business in the beginning. At the base case scenario, total
owner compensation is up to $108,811 because of the dividends the company is able to
pay at this time. It should be noted that the company is still withholding 40,000 worth of
retained earnings for possible future expansions. Average owner compensation per hour
in year 5 reaches close to $55.00 per hour.
Owner 1 2 3 4 5
Compensation
Manager Salary 40,000 41,000 42,025 43,076 44,153
Dividends -‐ -‐ -‐ 35,154 64,659
Total Owner 40,000 41,000 42,025 78,230 108,811
Compensation

Average Hours 2,500 2,500 2,000 2,000 2,000
Worked
Average $16.00 $16.40 $21.01 $39.11 $54.41
Compensation/hour
5.8 Contingency Plan
If projected sales are not reaching amounts that are financially feasible by year one and
two, Bliss Yoga will be forced to declare bankruptcy. If the business is financially
feasible but not economically feasible by the owner, the business will be sold.

Bliss Yoga Studio
6.0 Summary
Bliss Yoga Studio Bikram Yoga studio focused on fitness, and wellbeing. Bliss is located
studio in Swift Current. The base case shows that all of the financials are very positive
and that this company should be a go.
However, there are risks with marketing and reaching the targeted number of customers.
It is one thing to be able to reach these people with marketing but another to get them to
actually come to the classes. There is also high competition with direct and indirect
sources. This is a high-risk business considering the small population of only 17,000
people. To get to capacity of almost 200, 11 percent of the population needs to come to
the studio. This is an extremely high number considering the many other options for
health and fitness located in the city of Swift Current.
The other main risk factor is if the people of Swift Current will even be interested in
participating in Hot Yoga, or if they will view it as a trend and quit after a short period of
time. It will be extremely difficult to not only attract the base case number of customers,
but to retain them as well. For these reasons, this venture will not be pursued. However,
this business could be very profitable in another city with less competition and a bigger
population to draw from.

Bliss Yoga Studio
Works Cited
Blake, J. (2000, Aug 3). Fitness: hot trend in Bikram yoga, students perform 26 poses in
a room heated to 105 degrees ---intentionally. Retrieved from
http://go.galegroup.com.cyber.usask.ca/ps/i.do?id=GALE%7CA63830947&v=2.1
&u=usaskmain&it=r&p=ITOF&sw=w&asid=4f7dfd7f11dafff198451cf3875e0a4a
City of Swift Current. (2014). Department of Business Development. Retrieved from The
City of Swift Current:
http://www.swiftcurrent.ca/city_hall.php?name=Sections&op=viewarticle&artid=5
Dixon, R. (2011, March). The Job Description of a Yoga Instructor. Retrieved from
http://www.livestrong.com/article/402751-the-job-description-of-a-yoga-instructor/
hrcouncil. (2014). Getting the Right People. Retrieved from HR Council:
http://hrcouncil.ca/hr-toolkit/right-people-recruitment.cfm
Long, R. (2013). Strategic Compensation in Canada (5th Edition ed.). Nelson College
Indigenous.
Moksha Yoga. (2014). Our Facility . Retrieved from
http://saskatoon.mokshayoga.ca/our_studio/facility/
Ritter, E. (2014). Channel Signal. Retrieved from By the Numbers: The Growth of Yoga:
http://www.channelsignal.com/fresh-signals/by-the-numbers-the-growth-of-yoga

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Bliss Yoga Studio

December 5th 2014 | Shelby McLeod

Bliss has the following goals and objectives:

Success will be determined by the following factors:

December 5th 2014 | Shelby McLeod

1.0 Introduction to Bliss Yoga Studio ................................................................................ 1

December 5th 2014 | Shelby McLeod

December 5th 2014 | Shelby McLeod

1.0 Introduction to Bliss Yoga Studio

1.1 Value Proposition

1.2 What is Hot Yoga?

1.3 Goals and Objectives:

December 5th 2014 | Shelby McLeod 1

1.4 Key Success Factors:

• Awareness campaign starting before the studio opens

December 5th 2014 | Shelby McLeod 2

2.0 Operations Plan

2.1 Organization Structure

2.2 Legal Structure

2.3 Forming A Corporation

A lawyer will be hired to incorporate Bliss Yoga Studio as a registered Saskatchewan

December 5th 2014 | Shelby McLeod 3

2.4 Site Location:

2.5 The Building

December 5th 2014 | Shelby McLeod 4

December 5th 2014 | Shelby McLeod 5

December 5th 2014 | Shelby McLeod 6

2.5.2 Leasehold Improvements

December 5th 2014 | Shelby McLeod 7

2.6 Hours of Operation

2.7 Classes Offered

2.7.1 Hot Foundation:

2.7.2 Hot Foundation 2

2.7.3 Gentle Yoga

December 5th 2014 | Shelby McLeod 8

2.7.4 Yin Yoga

If classes fill up to capacity, there is opportunity to offer another class at 4:00PM on

2.8 Service Providers

2.9 Capital Budget

Capital Budget 2015 2016 2017 2018 2019

The majority of the capital budget is made up of leasehold improvements as shown

Refer to Appendix A for Capital Budget.

December 5th 2014 | Shelby McLeod 9

2.10 Operating Expenses

2.11 Working Capital

Refer to Appendix A for a breakdown.

2.11.2 Accounts Receivable and Accounts Payable

2.11.4 Capacity Limitations

December 5th 2014 | Shelby McLeod 10

2.12 Licensing and Insurance

December 5th 2014 | Shelby McLeod 11

3.0 Human Resources Plan

3.1 Required Staff

3.2 Job Descriptions

Duties and Responsibilities:

3.2.2 Senior Instructor

December 5th 2014 | Shelby McLeod 12

Duties and Responsibilities:

3.2.3 Junior Instructor

Duties and Responsibilities:

3.2.4 Receptionist/Admin Assistant (Part Time)

December 5th 2014 | Shelby McLeod 13

Duties and Responsibilities: