With the $300,000 deal, Y7 expects to open two to three new locations in 2023.
Bonside’s mission is to highlight brick-and-mortar businesses by providing them additional financing for expansion, so they can preserve ownership and prolong other investment and revenue sources. The firm has provided yoga studio Y7 with $300,000 for physical expansion; health and, there are three key elements she looks for when investing in a boutique fitness location.
However, now the brand is betting on brick-and-mortar expansion as clients are returning to in-studio. “What we’re seeing with our clients is that our monthly members, the digital membership comes with their monthly unlimited membership, so we’re seeing them use it as a supplement to their in-studio classes,” Larson Levey said.
“In the last six months, we’ve started to recover and see our numbers return back to normal,” she said. “When we looked at what we wanted to do with the company and expanding through an omnichannel vision, we decided we didn’t want to take on any more institutional capital.” The brand currently has one private equity partner.
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