What Are The Prospects Of Yoga Sportswear?

According to the world clothing and shoe net, after the completion of the last round of the domestic gym being investedled by investment institutions, yoga hall began to warm up. Last year, early this year to early this year, chain yoga, orange yoga, yoghurt yoga, and Wake from online video to offline yoga hall were invested.

Is the yoga hall a big business? I pay attention to the sports and fitness industry for a long time, but I can't think of any large chain yoga hall at home and abroad.

The largest chain yoga hall in the United States is CorePowerYoga, which has 119 stores in late 2015, and has a running water of about 100 million dollars (up to now, a total of more than 160 stores). In June 2013, it received US $Catterton1 billion of investment in the US private equity fund (Catterton2016 merged with LVMH's private equity fund LCapital to become LCatterton, the world's largest consumer goods private fund).

Other investment venues in North America include: Canada's largest yoga hall chain has 13 stores in Yyoga2012, currently 12, and 29 stores in yogaworks2014, currently 40.

The 160 stores look a lot, but if compared to the gym chain, the AnytimeFitness created by 2001 has 3500 fitness clubs in the world. In 1992, the PlanetFitness, which was founded in 2015, has a total of more than 1100 stores. The number of chain fitness rooms with more than 200 stores is not uncommon.

Compared with the gym, why didn't there appear a special large chain in the yoga hall? Below I will mainly pass the United States.

Data analysis to explore the mystery.

Is yoga a niche sport?

According to the Yoga market research conducted by the American yoga industry magazine and the YogaAlliance in 2016, the number of yoga practitioners in the United States in 2016 was about 36 million, of which about 59% were active yoga practitioners (exercise frequency over 1 weeks 1 times).

As a reference, the international health, squash and Sporting Club Hotel Association (IHRSA) released 2015 of the number of American gym users. The American ice and Snow Sports Industry Association (SnowSportsIndustriesAmerica) released the 2016 ice and snow sports industry market intelligence report showing 2015-16 Snowboard 11 million 600 thousand skiers in the United States and 7 million 600 thousand Snowboard skiers in the 2015-16 snowy season.

Yoga, by contrast, is not a minority.

Is yoga a new sport?

Yoga entered India in 1893 with the yoga master of the India, and gradually became popular in 1980s as people gradually discovered the value of yoga fitness and health preservation.

As can be seen from the above picture, the chain yoga hall is not a new thing. However, compared with the growth of yoga practitioners and gym users in recent years, yoga has seen rapid development in recent years. The average annual growth rate of participants in 2012 to 2016 has reached 16%, while the average annual growth rate of gym users is only 3.3%.

Correspondingly, the overall output value of the yoga industry in the United States has increased considerably, which has doubled in 4 years.

Yoga itself has a long history, but yoga as a kind of fitness exercise, popularity and commercialization in the world is indeed a matter of recent years, its fever is continuing to ferment.

Practicing yoga, not going to yoga hall?

Yoga is a special sport because its practice scene is very diverse. Without considering the level of yoga, you can practice yoga in any space with a yoga mat and comfortable clothes.

Continue to compare the comprehensive gym and yoga hall, the people who go to the gym generally have the following three categories: 1) those who use the aerobic apparatus or carry out weight training independently can practise at home for those who are in the same class; 2) the crowd in the private teaching class is more restricted from the private Yoga than the stadium, and can choose to attend classes at home or in the open; 3) the crowd who likes the yoga group can choose to go to the gym or a professional yoga hall to attend classes.

It seems that there are many yoga enthusiasts as soon as possible, but their choice of venues is numerous, so they do not necessarily choose to go to yoga hall.

This is also reflected in the research data of the United States.

Yoga teachers teach yoga classes on many other occasions besides yoga.

It is also because the yoga hall provides mainly the league and private education courses, which are provided by people, the cost of services is high, and the fees of yoga centers are generally higher.

In the United States, the average price of yoga classes is between $10~25 per class (restricted by commercial real estate, and the yoga curriculum in China is also mainly located in this price range).

Such a price makes Yoga more close to the gym providing excellent courses.

The monthly fee of CorePowerYoga is between $135~$170, which is equal to the monthly fee of the high-end fitness chain Equinox in the United States. (founded in 2016, there were 91 stores in 2016, and the monthly fee was $150).

The diversity of yoga practice scene and the high consumption of yoga hall make the yoga hall mainly serve the heavy yoga enthusiasts with certain consumption ability. This group will be much smaller than the total yoga practitioners.

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Why is the concentration of yoga industry low?

In the US, the concentration of Yoga shops is very low. Most of the venues are scattered in the small boutique.

According to IBISWorld's research, the largest CorePowerYoga market in the US is only 0.5%.

There may be several reasons for the low rate of linkage.

1, yoga yoga threshold is low.

The venues need less space and do not need a lot of equipment and operators to invest.

The most basic yoga hall can operate normally with a few Yoga coaches and some core fans.

This is why many yoga centers are yoga coaches who invest and manage.

2, yoga teaching.

Standardization is relatively difficult, and the core element of achieving chain is standardization.

The establishment of the Lai Mei system in the 80s of the last century standardized the fitness class to some extent. But at present, the selection and difficulty of a yoga class often depends on the individual's ability and style of the yoga instructor. For example, FlowYoga is also very difficult to feel under the guidance of different venues and teachers.

Whether the yoga curriculum can be standardized is theoretically possible, just like the emergence of the Yoga Alliance 20 years ago, making the training of Yoga coaches increasingly systematized.

But the difference between aerobics or cycling is that yoga has its own unique cultural history. Yoga has existed for 5000 years, which is closely related to religion and meditation. Yoga's "inner view" and "mindfulness" are contrary to the noisy pop culture and business culture itself.

The phenomenon of increasing popularity of yoga has been controversial in the United States. Yoga practitioners hold different attitudes towards whether the industry is developing in the right direction.

In the past, yoga developed in the form of apprenticeship, and practitioners were masters of yoga. Yoga has always been dominated by "human". Its "non standard" and "personalized" characteristics have their unique cultural reasons.

3, the emergence of new Internet tools: in the United States, with the emergence of platforms such as ClassPass (founded in 2013), small scale boutiques are connected, whether the operators or users of the venues can enjoy some benefits of "chain", making the necessity of chain itself less obvious.

What is the profitability of yoga studio?

The yoga hall does not have detailed operational data.

The public gymnasium attracts large numbers of users at low prices, earning money from users who do not have sports, but the number of yoga hall users is small but the unit price is high.

Without considering the difference in the area of the gymnasium, the difference between the sales volume of a single yoga hall and a single large gymnasium is not very large in the above representative cases. The latter's profit index -EBITDA can also be used as a reference.

Summary

To sum up, yoga as a fitness program is becoming more and more popular in the United States, and has entered a rapid development in recent years.

But because of the variety of the practice scene and the high fee, the yoga hall is often only serving the Yoga heavy enthusiasts with a certain amount of consumption.

The low threshold of yoga studio and the "non-standard" curriculum based on cultural and historical reasons make yoga venues highly dispersed and low in chain.

What's the difference between yoga hall and China?

According to the world clothing and shoe net, about 10 million people practiced yoga in China in 2014, and the penetration rate was 0.7%. There was a huge gap compared with the penetration rate of 11% in 2016.

What is the final acceptance of yoga in China is unknown, but there is no doubt that this is a rapidly fermented market.

It seems that the chain of Yoga business is not easy to do, but by comparison, the particularity of the Chinese market and its stage provide some opportunity to scale.

1, the history of yoga in China is not long. According to searchable information, the earliest chain yoga hall in China appeared around 2003.

Because the industry is still in its early stage, the overall reserve of yoga instructors is not enough. It is speculated that there are not many independent small venues invested by yoga coaches. In addition, the ClassPass mode has not run through in China, and some independent venues also have certain requirements for increasing the ability of acquiring relatively well-known brands.

2, yoga is recognized as a fitness and health campaign in China. Its internal culture is weakened, and the resistance to the commercialization of the industry is relatively small.

3, a major feature of China's current stage is capital driven business. From the beginning of last year, the investment boom of gymnasium and yoga hall is evident. In the early stage of industry development, the boost of capital will promote the industry to move towards centralization and scale.

It can be presumed that the industry concentration of yoga hall in China may be much higher than that in the United States.

In addition, yoga can enhance profitability through diversification.

Referring to the US data, yoga practitioners have a wide age span, and the core group is a 30~49 year old woman. This is a group of people who have strong spending power and willingness to consume.

Apart from the venues and courses, the yoga industry is a considerable market for clothing, equipment and accessories.

In recent one or two years, the trend of international brand development is obvious.

For yoga studios, even if the future scale of the next stage is facing the ceiling, diversification of business, whether agency sales, self created brand, organizing Yoga trips or providing other health care services, is a feasible way to further enhance business scale and profitability.

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