Small World Yoga, Inc. Market Research Report

Background

Overview

Small World Yoga, Inc. (SWY) is a Nashville-based 501(c)(3) nonprofit organization founded in 2014 by Liz Veyhl. The organization is dedicated to connecting people and creating community by increasing access to yoga. SWY offers trauma-informed and inclusive yoga classes designed to suit any physical and mental ability, aiming to make yoga approachable for everyone.

Mission and Vision

Mission: To connect people and create community by increasing access to yoga.

Vision: To empower individuals through healing and connection, envisioning a world where everyone has access to the transformative benefits of yoga.

Industry Significance

As Nashville's first nonprofit, donation-based yoga studio, SWY plays a pivotal role in making yoga accessible to underserved and historically marginalized communities. By offering free and donation-based classes, SWY addresses the mental, physical, and emotional health needs of individuals who might not otherwise have access to such resources.

Key Strategic Focus

Core Objectives

Community Engagement: Expand outreach programs to serve diverse populations across Middle Tennessee.

Inclusivity: Ensure yoga is accessible to all individuals, regardless of race, age, gender, religion, or sexual orientation.

Sustainability: Build long-lasting relationships with students, partners, and the communities served.

Areas of Specialization

Trauma-Informed Yoga: Providing coping mechanisms and tools to help students manage trauma and stress.

Inclusive Practices: Creating a culture where students and teachers can be fully and authentically themselves.

Accessible Classes: Designing classes suitable for any physical and mental ability.

Key Technologies Utilized

Online Platforms: Offering virtual classes to reach a broader audience.

Community Partnerships: Collaborating with local organizations to provide yoga in diverse settings.

Primary Markets Targeted

Underserved Communities: Individuals with limited access to yoga resources.

Educational Institutions: Schools and universities seeking to incorporate wellness programs.

Correctional Facilities: Inmates benefiting from therapeutic yoga practices.

Recovery Centers: Individuals in recovery from addiction or trauma.

Financials and Funding

Funding History

SWY has received support from various foundations and donors, including:

The Boedecker Foundation: $30,000 for program needs.

Sauer Lewis Foundation: $12,500 for annual giving.

Memorial Foundation: $12,000 to further the organization's exempt purposes.

Total Funds Raised

In 2023, SWY reported total revenues of $494,491, with total expenses of $563,741.

Notable Investors

As a nonprofit organization, SWY relies on grants and donations rather than traditional investors.

Utilization of Capital

Funds are allocated towards:

Program Services: $267,694 dedicated to outreach and community classes.

Studio Operations: Maintaining the nonprofit yoga studio and related expenses.

Community Events: Organizing events like the Music City Yoga Festival and International Day of Yoga.

Pipeline Development

Key Programs and Initiatives

Community Studio: Opened Nashville's first nonprofit yoga studio in 2018, offering donation-based classes.

Outreach Classes: Providing yoga in schools, prisons, recovery centers, and other community organizations.

Annual Events: Hosting the Music City Yoga Festival and International Day of Yoga to raise funds and awareness.

Target Conditions

Trauma and Stress: Offering coping mechanisms through yoga.

Physical and Mental Health: Improving overall well-being through accessible yoga practices.

Timelines for Anticipated Milestones

Ongoing: Expansion of outreach programs to new community partners.

Annual: Hosting the Music City Yoga Festival and International Day of Yoga.

Technological Platform and Innovation

Proprietary Technologies

Online Class Platforms: Utilizing virtual platforms to offer classes beyond the physical studio.

Significant Scientific Methods

Trauma-Informed Yoga: Incorporating mindfulness and coping strategies into yoga practices.

Leadership Team

Key Executives

Liz Veyhl: Founder and Executive Director. Liz discovered yoga as a burnt-out college athlete and founded SWY in 2014 to expand yoga access across Middle Tennessee.

Abbie Rice: Community Studio Manager. Abbie began teaching with SWY in 2020 and joined the leadership team in November 2022.

Mikka Parrish: Outreach Manager. Mikka has been teaching outreach with SWY since 2020 and manages relationships with community partners.

Competitor Profile

Market Insights and Dynamics

The yoga industry in the United States is diverse, with numerous studios and organizations offering various styles and services. The market is characterized by a mix of for-profit and nonprofit entities, each contributing to the accessibility and popularity of yoga practices.

Competitor Analysis

CorePower Yoga: A for-profit yoga studio chain with over 220 locations across 23 states, offering memberships, classes, and teacher training.

YogaWorks: Founded in 1987, YogaWorks offered yoga classes and teacher training but filed for bankruptcy in 2020.

Strategic Collaborations and Partnerships

SWY collaborates with over 80 community partners in Middle Tennessee, including public schools, libraries, community centers, metro parks, homeless shelters, correctional facilities, and recovery centers, to provide accessible yoga classes.

Operational Insights

SWY differentiates itself by focusing on inclusivity and accessibility, offering donation-based classes and outreach programs to underserved communities. This model allows SWY to serve a diverse population, including those with limited financial resources.

Strategic Opportunities and Future Directions