Aradia USA, LLC dba The Sol Studio & Bikram Y

Summary

The Sol Studio and Bikram Yoga Memphis is a yoga and fitness studio located at 2015 Madison Avenue in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The business closed due to being a non-essential business. Customers lost their jobs and could no longer afford to pay membership prices. The owner continued to pay business overhead and teacher salaries from savings.
Stabilization and Recovery Plan:
• Established an online platform April15th
• Practicing all social distancing and PPE requirements
• Minimizing the number of classes and students on site
• Adopted a more aggressive pricing structure to drive traffic to the studio
• Received a $26,000 infusion from PPP and $10,000 infusion from EIDL
NEED Grant funds will be used for rent expenses.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

8/28/2020