KSA’s Kwantlen yoga studio loses $6,000 in first year
October 25, 2010 by Matt Law · Leave a Comment
Eddie Lee, Health & Recreation Manager for the KSA, believes the new model for fitness classes on the Richmond campus will turn the budget around. (Photo by Matt Law)
The Blossoming Lotus yoga studio at Kwantlen’s Richmond campus took a financial hit during its first year of operation.
According to a June 24 budget update from the Kwantlen Student Association, the studio had accumulated a net loss of $6,855 while generating only $1,887 in revenue.
“We definitely took a loss this year; it was unanticipated. It was the first year of doing it, we’ve never really done fitness classes out here before. We were trying a couple of different models and it’s reflected in the losses,” said Eddie Lee, health & recreation manager of the Kwantlen Student Association.
Most of the expenses for the studio came from instructor fees which totalled $6,060. Other expenses included marketing and administrative costs, which came to $969, and general operating expenses (cleaning, signage, postage), which came to $1,713.
According to Lee, lack of student participation in the classes was a big factor.
Lack of student participation was a major factor in the Blossoming Lotus’ first year losses (Photo by Matt Law)
“Students want to take classes but it interferes with their classes, so for that reason they can’t participate. But it’s not for a lack of interest,” Lee said.
“We’ve priced ourselves to be affordable to students, which means we’re typically lower than the community centres, the studios, the fitness clubs, things like that. We’re not here to profit off the students.”
The cost for individual classes is $25 for students on the health and dental plan and $35 for students who are not. Community centres in both Richmond and Surrey also offer drop in classes at costs ranging from $4.25 (with student discount) to $5.50.
To help mitigate losses, the KSA has created an online registration system using Paypal. This will enable courses to be run when there are enough students to fill them. The KSA has also changed some instructors and opened classes to the community to make them more cost effective.
“With the reduction in instructor fees and going to this online registration, we’ve definitely seen a growth in the numbers and attendance, which obviously combined with the reduced instructor fees are taking us closer to that break-even point.” said Lee.
The next budget will be released in January 2011 and Lee is positive things will have turned around.
“I’m confident in saying that the losses have been significantly reduced and we’re hoping to break even or come in with a small profit margin by next year.”
