A Yoga Studio Proves Its Flexibility Amid the Pandemic
By: Gregory Johnson
St. Petersburg — While many small businesses have fallen victim to the pandemic, The Body Electric Yoga Company’s general manager has worked hard to keep the brand alive.
For the past three and a half years Abby Goodwin has played a key role in helping to grow the company. Prior to the pandemic, growing was exactly what the Body Electric was doing. Goodwin says they were at an all-time annual membership high of 1,000 per month. With those numbers she said the business was operating on a large profit margin.
Things were going well for the yoga studio right up until restrictions relating to COVID-19 began to take effect. Goodwin said that it wasn’t just the physical limitations like occupancy limits that hurt them. She said it was also how the early fear and uncertainty surrounding the virus discouraged their yoga students from attending classes. At its worst, the studio’s membership rate was cut nearly in half, at around 650 annual members per month.
“It’s kind of been survival mode,” said Goodwin. “We’re still in survival mode.”
Another aspect that added to the financial burden was the opening of a gym, called The Athletic, just 10 weeks before the global outbreak. Though the company planned on a slow growth for the new addition, they didn’t plan on being forced to close the doors for 10 weeks. In doing so, Goodwin said it led to a mass staff exodus, which further hurt the gym’s ability to produce income. Without the, admittedly low, expectation of income from the new facility, they needed to rely even more on the yoga studio.
A starting point for Goodwin was finding ways to reduce operating expenses. One of the first steps was a budget for the business, something it previously hadn’t needed. Another was reducing the number of hours a receptionist was behind the front desk. But she said reducing costs only went so far, and she had to find ways to bolster class attendance.
“My biggest job in 2020 was organizing us to get through 2020,” said Goodwin.
The Body Electric also went on a membership drive. They began offering gym classes included with yoga memberships, as well unlimited streaming for all monthly and annual members. Goodwin said they never raised their prices even with the extras that were being offered.
The studio simultaneously took steps to reassure their patrons that they would have a safe experience. They issued their own mask mandate, regardless of what the local governments stance would be, with no exemptions. Masks coupled with the social distancing in class led to a slow rise in the number of attendees. And even with the rise in attendance, the studio has seen no outbreaks of the virus, though two teachers and four students reported contracting it at separate times.
Even with all of the changes and returning clientele, Goodwin reported that the business is still not making the money it needs to. She put their current monthly annual member number up to 850 and said it’s still trending upward. She attributes the company’s steady rebuilding to the brand that the Body Electric has created in the community over the last eight years. She said she sees the support the yoga community has given to ensure the studio remains.
“We’re not breaking even yet,” said Goodwin. “But we’re close though.”
