A Sheffield yoga company has opened a second studio three-years after it launched with a £10,000 loan.
Hot Yoga Sheffield has just opened on Edgedale Road, Nether Edge, while turnover has hit £150,000, after the firm launched in Commonside in 2014.
It was founded by Anne Marie Gordon and Koreen Clements after they secured a £10,000 loan from the Start Up Loans Company.
The Government-backed scheme has lent £3 million to Sheffield start-ups since 2012.
Anne Marie Gordon said: “Opening a second studio means we can offer a wider variety of classes. Now it’s a case of settling in, and helping more people across Sheffield transform their lives from chaos to calm.”
The new studio means the firm can provide an extra 20 classes a week, making a total of 70 across both premises.
As well as Hot Vinyasa, Hot Hatha, and Hot Yin classes, the studio will offer massage, yoga trapeze, private classes and charity sessions.
Previously independent instructors renting studio space in the city, the funding allowed the pair to build their own specifically for hot yoga, which is performed under hot and humid conditions.
Anne Marie added: “We were really keen to start our business, but finding funding was more difficult than I thought.
“We knew from teaching yoga there was high demand in Sheffield. Fortunately, funding and mentoring from the Start Up Loans Company helped us launch. Our classes have been so popular we’ve now had to expand.”
The Start Up Loans Company offers loans of up to £25,000 at six per cent fixed rate per year, and a mentoring service.
Joanna Hill, chief commercial officer, said: “Often, we see start-ups pushed to the back of the queue when it comes to traditional funding, but with responsible funding and mentoring support, business ideas can be realised.
“Hot Yoga Sheffield has been incredibly successful and it’s great to see the business taking its next growth step. Anne Marie had all the right ingredients ready to build a start-up, she just needed a permanent studio of her own.
“Now, with a second premises opening, the business can provide more classes for Sheffield’s residents and offer something for everyone.
“We’re looking forward to helping more people in the region take the leap into self-employment.”
The scheme is run by the Department for Business, Energy & Industrial Strategy,