Nicole Cronin highlights the clarity yoga provides, stating it instills the belief that 'everything is going to be OK; whatever life is throwing your way, you can handle it.' This sentiment is fundamental to her teaching and engagement with students.
According to Grandview Research, the global yoga market is projected to grow significantly, reaching $116 billion by 2024 and potentially doubling to over $200 billion by 2030, indicating a thriving environment for the industry overall despite challenges faced by small studios.
The rise of corporate yoga chains like CorePowerYoga poses a threat to independent studios, with Cronin stressing the difficulty of maintaining fair pricing in an increasingly competitive market, paralleling the historical struggle of indie bookstores against corporate competition.
Professor Robert Chapman-Wood acknowledges the inevitability of larger companies impacting small businesses but warns against a scenario where they dominate the market entirely, as small businesses lack the marketing resources to compete effectively.
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