“Thank you so much for all of the time you spent with me today. I sincerely appreciate all that you are doing to launch my business.”
Background: Dana Kaye is a long time health professional and devotee and student of Yoga and has been using those skills and experience to do private and small group Yoga training to help people attain the benefits of yoga to improve their lives when faced with cancer, chronic diseases, traumatic injuries and the recovery from those challenges. Dana wanted to both formalize and grow her yoga classes by setting up a Yoga studio in Millbrae, California, but didn’t know how to proceed and especially how to get the start up business loan she would need to get the business off the ground.
Challenges: Dana came to the SBDC looking for start up help including help with a business plan needed to get a business loan.
Actions Taken: SBDC advisers helped Dana decide upon the best legal structure for the business (LLC), create and edit a business plan with financial projections and apply and receive a $150,000 business loan.
Results: Grace Yoga was able to successfully get a loan, create a full time job for her as Manager and 12 additional part-time jobs including instructors of the classes being offered at the studio. In November, the studio reach a milestone of 100 paying clients in various long-term class programs, which is slightly ahead of the financial projections.