Ebru Evrim

Idea

Introduction

Ebru Evrim is a membership-based wellness brand for prime high street locations. Our product offering includes state-of-the-art yoga and pilates studios, a dynamic class timetable, own-branded activewear and wellness holidays. We also plan to expand our revenue stream further by launching in-house yoga and pilates teacher training courses.

The brand has been positioned as a new high street attraction that offers customers yoga AND pilates studios together under one roof, supported by complementary cross-selling income streams. With an established studio in Skipton, and another currently in development in Harrogate, we are well-placed to expand the business and capitalise on the increasing popularity of the health & wellness sector.

With high quality facilities and a boutique atmosphere that attracts qualified yoga and Pilates teachers, we are able to offer a diverse class timetable and highly professional customer service.

Covid has accelerated both demand for the wellness sector, and falling high street rents. These new conditions are well-suited for the Ebru Evrim brand mix and future branch expansion plans.

Substantial accomplishments to date

We have created a brand that our members and customers want and love.

The adversity of the coronavirus pandemic allowed us to stress test our business model and take advantage of the opportunities that a health crisis might offer a wellness brand.

We moved at the right time to secure a lease on a prime location on James Street, Harrogate: one of the spa town's most prestigious streets, lined with retail shops from Apple to LK Bennet, Russel & Bromley, and other leading brands.

While keeping our management structure agile and streamlined, we have shown our members and customers a high standard of service through difficult times.

Despite rollercoaster trading conditions during the most vulnerable startup phase just after opening, we were able to use a careful balance of equity and debt finance, supported by grants, to build a solid financial platform for the future.

Monetisation strategy

Unlike the majority of health and fitness brands on the high street, we have developed our own interior design concept that stands out from the crowd. This plays a key role in creating the intimate, boutique atmosphere that draws our loyal membership community.

This membership model helped us survive Covid, despite us opening just 3 months before the first lockdown. In the event of any future lockdowns or other challenges, we believe this revenue stream can provide a suitable foundation to maintain the business.

Our Recharge & Renew sub-branded wellness holidays, and our activewear range, cross-sell into our membership base, contributing to a high average spend per member.

By starting small in Skipton market town, then moving to bigger premises in Harrogate spa town, and finally into more cosmopolitan Leeds, we aim to build a three-branch triangle accessible and attractive to all members. This will also help us to generate further revenue from our activewear range.

All our branch income streams, including online classes, are supported by an integrated online system with an Ebru Evrim app, using third-party Mind Body, Shopify and Zoom platforms.

Use of proceeds

With the money raised from this round we plan to bring Ebru Evrim to new locations and expand our existing revenue streams.

Our branch expansion strategy involves transforming historic buildings in prime high street locations into state-of-the-art studio spaces with retail and cafe areas included. A fit-out means stripping interiors right back to the original red brick or stone as part of a clean, natural finish that defines the distinctive Ebru Evrim studio design.

With our minimum target of £200,000, we will be able to fit-out, launch and market our brand new studio in Harrogate, where we have the extra space to add a rehab room, teacher training courses and a café.

If we raise £350k total, we can do the Harrogate fit-out, develop our own Ebru Evrim app, payment and booking software, and add an enlarged Yoga studio to the Skipton branch.

If we raise £550k maximum stretch, we can look to open a studio in Leeds by the end of 2023.