Sara and I started a small yoga studio in a quiet North-Eastern ski town, population 254. The rent was roughly $300.00 a month including gas and electric. We just had our first child and didn't want to travel an hour to get to class.
After a year of teaching the locals, friends and family, we decided to move the studio to a more populated area. We found the perfect building on a busy street and created a budget. All we needed to do was: remove five walls, rip out the old carpet and replace it with new one made out of recycled plastic bottles, add bathrooms and showers along with changing rooms, create office space, purchase a new pellet stove to heat the room, add new walls, install full length mirrors, create a desk and benches and much more! We also needed first and last month’s security deposit, which was pretty much what we saved from the original studio.
To make our dream a reality we needed to raise $30,000. This number included just enough to cover a few month’s rent in case the new space took some time to take off.
As rewards to backers who donated to our project we gave out water bottles, yoga mats, t-shirts/yoga gear as well as monthly and yearly memberships. The reward was not the same for all. If a backer was generous enough to donate $2,000 toward our goal, we awarded them with a $3,500 yoga retreat.
The most given reward was the $1,200 yearly yoga membership. This worked great because within the first few months the place was packed with Angel investors who paid their yearly membership 4 months early. They were the ones who help promote the new space and were excited to bring new yoga buddies along.
I tell everyone about WholeFunding and our experience. We know we couldn't have done it without everyone’s support and for that we are truly Blessed!
Thanks for reading our story and good luck with your project!
Michael and Sara