Summary of the business plan for CorePower Yoga:
CorePower Yoga (CPY), the largest private yoga chain in the United States owns over 150 of the busiest studios, across 15 states. The Fremont studio, the second busiest studio nationwide, gets an average of 200 clients per day. After interviewing the Studio Manager, Jen Dekok, our team identified the lack of information strategy within the hypergrown firm. CPY’s founder, Trevor Tice, wants to see CPY expand to more than 500 studios and promotes CPY as the “Starbucks of Yoga”.
It is very important to integrate modern technology into CPY’s internal business strategy in order to serve customer in high standard. Upon deeper research, we noticed that CPY’s mobile application is outdated and does adds value to neither clients nor employees. Jen said she does not even use the app and she wishes that she can communicate with clients using the application. The current app shows limited information, does not allow registration, reservation, and is not user friendly.
Thus, our team proposes a new business plan to implement a new mobile application. In order to sustain the proposed mobile application we looked at the figures from the market of mobile application. Also, we evaluated the idea for the financial, technical and business fit feasibility. With the new app, students are able to register a new account and get their new free week trial. Apart from registration, students will be able to reserve a spot for future classes, which eliminates the frustration of getting turned away after coming to an overbooked class.
Through the new application, CPY can greatly increase customer satisfaction and improve resources allocation. In the long run, information technology will help CPY to serve its ever-growth customer base effectively. It has the potential to automate many labor tasks, generate personalized offers, promote more yoga related events, and deliver quality service. The positive ripple impact can increase membership sign-ups and word of mouth advertising. All in all, we strongly believe that the mobile application would bring benefit to CorePower Yoga.
