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Virginia O’Connor (719) 460-2882
Maureen Troy (805) 455-8503
Audible Yoga
E-mail: info@audibleyoga.com

Why Crowdfunding Works for Yoga Companies

SANTA BARBARA, CALIFORNIA – January 12, 2017. The reign of the bake-sale is over; crowdfunding is here to stay and it's become a particularly effective way to raise capital in the yoga market. Yoga product companies, yoga studios, and yoga retreat or summit organizers are increasingly turning to crowdfunding to raise money for all kinds of projects.

Women entrepreneurs outperform men when raising money for their companies through rewards-based crowdfunding. And women represent 72 percent of yoga practitioners, compared to men at 28 percent, according to the 2016 Yoga in America study conducted by Yoga Journal and Yoga Alliance.

"Women outperform men when raising money for their companies through rewards-based crowdfunding. That means their products and services are hitting a market." Geri Stengel,  Crowdfunding Is a Female Founder's Best Friend (Forbes, March 16, 2016).

Women appear to be better at telling their story, at networking to raise awareness, and asking friends and family for help. Another reason for the popularity of raising capital through crowdfunding, especially for women, is the fact that they don't have to pay interest on the capital they raise or give up control of their idea the way they might with traditional ways of raising money through banks or angel investors.

One of the most important reasons that crowdfunding is working so well for yoga companies is the fact that rewards-based crowdfunding raises money by offering contributors yoga classes, retreats, and yoga apps - all things that people interested in yoga want. Crowdfund rewards are structured around the yoga business' products and discounts rather than asking for a donation to create something that contributor's can't see or relate to.

Yoga crowdfunding is a concept that's working very well, especially in a market that's growing. The most recent Yoga in America study cites some impressive statistics, including: the increase of yoga awareness and students practicing yoga (an increase of over 17 million since 2012).

Yoga practitioners now represent a wide range of ages as well with 21 percent of yogis over the age of 60. Yoga students aren't just practicing in studios anymore either: 24 percent have practiced yoga on their own, and 81 percent have practiced yoga outside a studio in 2016. With 65 percent of all yogis in America preferring to practice yoga at home, yoga teachers and studios are changing their model to accommodate and crowdfunding their way to achieve their goals.

  • In November 2016, Nicole Vahlkamp successfully raised $15,581 for The Yoga Summit, an online 21-day summit with rewards like premium passes to the summit, and pass packages bundled with yoga-related products.
  • In April 2016, Jacqui Hooper and Bertie Russell of Rebel Studio in London successfully raised £10,540 offering rewards like private yoga lessons, yoga class packages, and discounted yoga studio memberships.

"Crowdfunding gave us the opportunity to share our story and ideas with students and followers, allowing us to really connect with people. I think it's important to have a substantial database or following at the time you launch your crowdfund campaign — about 95% of our pledges came from people we knew." Jacqui Hooper, http://www.rebelstudio.co.uk/

About Audible Yoga

Audible Yoga was designed by two women co-founders who wanted to deliver a practical yoga product that would make a difference. A yoga retreat and a simple question sparked the inspiration for Audible Yoga and over 150 teachers from around the world quickly responded by sharing their audio yoga class recordings. Catch a preview of Audible Yoga's crowdfund, to raise the money to finish their app, starting in February 2017.