“I don’t think everyone is going to survive this,” one owner says
“The average profit margin for a yoga studio is 7%,” Harrington said. “That’s a very thin margin, and it relied upon maximum occupancy. If you don’t have a business where you can have maximum occupancy, you don’t have a business. We are having to negotiate with all of our landlords and/or walk away, and/or declare bankruptcy because the opportunity to be four walls where people come together and spiritualize, practice yoga, work out, is no longer an advantage. It’s actually a disadvantage. All the risk the entrepreneurs took to become a boutique fitness location, there’s no upside to our risk anymore, at all. What used to be an upside potential for the risk has now shifted to be a complete downside.”… READ MORE @ The Denver Post
