So, you have grown up dancing, and now you have an irresistible urge to start a dancing studio where you can train others. Creating such a great art platform is a good idea. However, you will need more than the desire to make your dream a success.
Creating your own dancing studio will require capital, amongst other things. Use the following risk-reducing strategies to make your studio business a success:
To make your dreams a reality, you will need to have a good and effective funding plan. Most donors will request to see the financial expectations of the proposed business. You have to convince them that you know what you are doing.
Your financial planning should include detailed information about where your revenue will be coming from, and how much you expect to be paying for your bills both monthly and annually. A more thorough financial plan will increase your chances of getting loans or support from donors.
Work on the studio space
Quality mirrors and floorings are essential aspects of a dancing studio and should never be taken lightly. You have to make sound decisions when purchasing fixtures for your dance studio.
Decorating your studio appropriately will encourage people to take their dancing classes with you. Hire the right floor sanding services to make sure your floors are in good condition.
You could consider decorating the space with some Australian contemporary art. This adds a sense of your own taste and flair to your studio.
Get the required business permits
Before you get to run your new dancing studio, make sure that you get all the required permits and licensing. Otherwise, you risk hefty fines or your business being shut down. Be sure to oblige to both the state and local licensing rules and regulations.
Determine your ideal clients
So much can be done in a dancing studio. Make a decision which market niche you would like to get into. Some of the dancing niche markets include dance lessons for singles, couples, children, ethnic dance styles and common dance styles among many others.
Market your dance studio
Your dance studio will not make money until you get students willing to pay for dancing lessons. Use strategic methods to attract students. Do not assume that everyone knows about your new studio.
Go ahead and put up signage indicating that your new dance studio is now open. Social media would be a great platform to market your studio. Word of mouth is perhaps the most powerful way of spreading the work. Get help from family and friends to do this.
You might not be able to run the dancing studio all by yourself. It will be necessary to hire a few staff who will be helping you with classes.
For starters, do not rush to hire a large staff until the business picks up. You need someone at the front office desk to deal with administrative issues and maybe another one to focus on teaching.
Get insurance for the business
Insurance is crucial for any business, a dancing studio is not an exception. Have a look at several insurance policies and decide which would be a good fit for your business. Get proper insurance coverage to cover for your employees and clients.
Create policies for the dancing studio
Every business needs procedures for smooth operation. The procedures should address both the employees and clients. Clarify on things such as payment methods, hours of operation, hiring process, refunds, signing in of new students and fines or late payments.
Develop a system
Ensure you have the correct systems in place to record enrollments, payments and the like. Do not be sloppy with your paperwork but keep on top of it at all times. If you need to employ someone to help with this, do it.
Poor office management reflects badly on the studio as a whole and mums are often quick to complain if they are not getting the information they need in a prompt manner. Do all you can to be ahead of the game and be organised in all aspects so your studio can continue growing from strength to strength.