Part of it is the overall market and nothing more than that,” he says. Smith also blames the IPO market for the loss in value. “Look at your 401(k) three weeks ago and look at it yesterday…it’s probably worth less. But Chris Smith, partner and head of the Public Company Services practice at Friedman LLP, says in this market, that’s not necessarily atypical. Most of this loss in value happened almost immediately after the IPO on August 11th. Analysis: Why the YogaWorks Stock Lost ValueĪs of closing on Wednesday, August 23rd, the YogaWorks stock (YOGA), which was originally priced at $5.50, was down to $3.99. We want to maintain that sense of community and localization as we grow. We are not a chain of 50 studios, we are 50 communities of high-quality teaching, exceptional customer service, cleanliness, and consistency that students and teachers can expect. Our growth plan enables us to do it at a new level. Our mission for the past 30 years to help people stay on their journey to health and wellness will not change. RM: From the students’ perspective as we grow, more YogaWorks studios means more opportunities to take yoga classes. YJ: Will the fact that YogaWorks is now a publicly traded company change YogaWorks as students and teachers currently know it? We say to those owners, ‘Let us be your partner to do what you’ve been doing in your community, but do it in a bigger, better way.’ It’s a two-way conversation with the hope and intent that the owner stays on as an employee. Some wish to keep expanding, but they’re tired or don’t have the money to do so. , ‘Let us partner with you, buy you, and keep you employed for the continuity of the business.’ Some are so tired that they close their business and ruin their students’ practice, and it’s not great for teachers. The owners are doing the work that no one appreciates. We have lots of owners calling us asking us to buy them…it’s a labor of love to own a studio 365 days a year. RM: It’s such a victory for health and wellness and for the yoga category, which is growing by double digits. YJ: What do you think the IPO means for the yoga industry going forward? See also Yoga Studios Expanding Just in Time for 2017’s Chaos We have numerous discussions happening right now to acquire studios in very short order now that we have this opportunity through the IPO. We are the only yoga company that can grow organically through acquisitions. Our belief and our tagline is “yoga works for everybody”…you can’t have that without a variety of styles. as long as they have this multi-discipline approach. We have a multi-discipline and eclectic school of yoga, and we can acquire almost any studio in the U.S. We are a leader in this space-we started 30 years ago in Santa Monica with one studio, and began to grow in 2000 through acquisitions, taking those studios that we purchased and folding those teachers and students into our family. Now anyone can invest in yoga and in YogaWorks specifically. We are making our growth strategy possible through public markets. Our story is so unique-it’s the ultimate democratization of yoga. So many wonderfully talented teachers get into the business, but it’s hard to continue running a studio. RM : There are over 33,000 yoga and Pilates studios in the U.S., and we are one of the largest. YJ: Why do you think YogaWorks is the first yoga studio to go public? It finally happened, and we are now in a position to grow our company and continue with our plan. With our unique story it was hard to value us. Health and wellness is growing, yoga is growing. Rosanna McCollough: We went out in July and spoke to tons of investors and had tremendously positive meetings. Yoga Journal: The IPO was initially supposed to happen in July. held its initial public offering (IPO), becoming the first yoga “chain” to do so. To get the scoop on what this means for the company and for yoga going forward, we chatted with YogaWorks CEO Rosanna McCollough, who calls the move “the democratization of yoga.” Heading out the door? Read this article on the new Outside+ app available now on iOS devices for members!
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