Research On The Development Strategy For Guangzhou Happy Yoga Studio

As the national economy continues to rise and the quality of life of the domestic population continues to improve,exercise and wellness are gradually becoming the mainstream culture in China today.Yoga has become a fashionable sport sought after by many celebrities because of its ease of initiation,elegance,shaping and fitness.At present,there are over a thousand yoga business enterprises,large and small,in the Guangzhou yoga market,and the investment market remains active,with a variety of new yoga and fitness clubs constantly emerging every month.Under the policy guidance of the 2019 Action Plan to Further Promote Sports Consumption(2019-2020),which gives strong support to the development of China’s sports and fitness industry,yoga businesses are blossoming everywhere,bringing a strategic opportunity for the industry to flourish.Guangzhou Happy Yoga Studio is a small yoga business located in the heart of the city,the enterprise was established in 2019.After the pre-sales glory at the beginning of its establishment,with the entry of competitors in the surrounding industry,Guangzhou Happy Yoga Studio’s market share continued to decline,and the "leaky bucket" phenomenon of losing old members continued to occur.2020 early epidemic black swan event caused the business operation to come to a standstill,and there was a loss of income to make ends meet.In the face of fierce competition in the market,the emergence of business risks and potential competitors,the development of the company is faced with many problems to be solved.In this context,it is important to study the development strategy of Guangzhou Happy Yoga Studio to break the current bottleneck of the yoga studio and to promote the sustainable development of the enterprise.This paper takes Guangzhou Happy Yoga Studio as the main subject of the study,and forms the theoretical basis of the paper through a comprehensive collation of management literature.Through discussions and exchanges with managers,interviews with internal staff,and field surveys,the paper effectively obtains detailed information about the company in order to explore the development situation of the company and trace the root causes of its poor management.Based on the PEST analysis model,we analyse the external macro environment of Guangzhou Happy Yoga Studio and adopt the Porter’s Five Forces model to help the company analyse the competitive environment that currently facing and conduct a detailed assessment of its existing resources and development capabilities.Based on this,the SWOT analysis table and strategy matrix were summarised,and through the comparison of four strategic combinations,it was concluded that Guangzhou Happy Yoga Studio should adopt a diversification strategy(ST strategy),i.e.the company should diversify into related fields,through product diversification,market diversification and technology modernization.Moreover,it eventually creates a differentiated business to expand its market share and enhance its competitive advantage.Under the guidance of the strategic objectives of the enterprise development,the short,medium and long-term strategic objectives of Guangzhou Happy Yoga Studio are discussed in depth around quantifiable criteria such as corporate profits,products,market scale,employee welfare and social responsibility;the strategic plan for the development of the enterprise is implemented in the light of the market environment,the characteristics of the yoga industry and the business conditions of the enterprise,and finally the safeguards for the implementation of the strategy are also proposed to provide a guarantee for the sustainable strategic development of Guangzhou Happy Yoga Studio.The strategic plan will provide strong support for the sustainable strategic development of Guangzhou Happy Yoga Studio.