While people everywhere are struggling to make ends meet yoga businesses continue to thrive, according to a recent report by CNNMoney.
Low operating costs and growing demand are fueling the success of yoga studios, many of which are mom-and-pop operations that simply want to share yoga with their communities. Of course, the still-struggling economy and high unemployment rate are also good reasons for people to look for ways to manage stress and do some soul searching.
The yoga and Pilates studio industry is expected to hit $6.5 billion by the end of this year, which is an expected annual sales growth of 9.5% between 2006 and 2011 according to reports by market research firm IBISWorld.
But studio owners aren’t the only ones making a profit from yoga–just ask Asheville, North Carolina, entrepreneur Jason Scholder. Scholder is on track to make $1 million in annual sales by 2013 with his innovative yoga prop the Three Minute Egg, according to a recent article in the Asheville Citizen-Times. An alternative to traditional yoga blocks, the Three Minute Egg fits the natural curve of the spine.
“I would like to see the Three Minute Egg in every yoga studio, in every Pilates studio, in every chiropractic office and physical therapy office in the world,” he told the paper.
At the rate the industry is growing, it might be hard to keep up.
Has the economy impacting how much you’re willing to spend on yoga classes and products?