Hi,

Over the last few years yoga has really changed my life. Not only has it helped me physically by helping me manage my pain but it has helped me find and understand myself emotionally.

Opening the studio and teaching to help expose others to the world of yoga so they can also benefit from it as I have has been the best thing I have ever done. So it is with great regret that I have to inform you that the despite our best efforts over the last few months the financial situation of the studio has been declining. Winter, the onset of the cold weather along with late sunrise/early sunset has seen a massive decrease in attendance. This puts us in the situation where BCY cannot pay the rent for even one of the studio rooms we currently occupy, and we have not been able to pay the last months rent. On top of this, living off only one income (my wifes) for the last 16 months along with putting all our extra money into the business has put considerable strain on our personal financial situation as well.

Due to this we have been unable to pay our mortgage and on the 24th of this month we will be two payments behind. This means we will be receiving a letter from the bank warning us that if we don't make payment they will start processing the paperwork to sell the house to cover the debt. Before this downfall BCY was going well, making just enough money to cover its running costs, a very good position for a business of a year.

To help keep our dream alive BCY is looking for Investors and/or a partner in running the studio. So if you know anyone who might be interested in investing, or becoming a partner, then please forward this email to them. This includes the possibility of moving BCY, or merging with another studio. Alternitvely we will have to see a 100% increase in attendance to be at the point where BCY will be running in the black.

So if everyone can encourage all the people they know or associate with to come along and have a try, using the free passes on the front desk, then that will be a large step towards being able to stay open. If you have free time and want to do some marketing for us, then please contact us with your ideas and we can try to move forward from there.

We have ~1 months grace period to try to work something out. If there are no prospects by the end of this period, we will have to begin the process of closing down. This will take at least 1 month, and most likely closer to 2 months.

As soon as we know we will have to close, there will be no more Multi passes sold, only casual visits and a $30 weekly pass. BCY will stay open and operating for as much of this time as possible. Pro-rata reimbursements will be made for any Multi passes sold within the last 3 months, and the passes of people who are attempting to use all their passes, and/or regularly attending students.

Running the BCY studio has been a great experience, and if the worst does come to the worst, I will be continuing to teach, just for other people this time =)