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CONSIDERATION I have
had a life long love affair with The Dance, and welcome every
dance studio business plan that I see. It means that more
people, young and old, will experience the joy of movement and
grace.
A dance studio is deceptively simple on paper. And that is where
most dance masters get tripped up. It's not easy to have a
successful studio, one that will grow for years to come.
STRONGEST ADVANTAGE
A dance studio is not an
expensive business. Your biggest expense is liable to be rental
on your studio. The second biggest expense will be promotion.
STRONGEST DISADVANTAGE
Your biggest headache will be
convincing lenders that you have enough of a clientele base to
make the business a success. And, in truth, they have a point.
It's easy to run numbers that show you will have X number of
students, bringing in $XX . It's a lot harder actually making it
happen.
For the most part, lenders
won't understand the difference between different styles of
dance, or why certain styles appeal to certain types of people.
You will have to be very careful to explain it well.
OVERCOMING THE DISADVANTAGE
WITH YOUR DANCE STUDIO BUSINESS PLAN
Bring a clientele base to
your new studio.
The best way to prove that you
have the pizazz to attract students is to already have them. If
there is a way that you can begin your studio in your home, your
garden, at the community center, or any other place, do so.
Build your following.
In your business plan for a
dance studio, show photos of your students -- the more, the
better. Demonstrate the age levels that you appeal to, the type
of people that you attract. Map out your clients on a small map,
showing the strength of your reach throughout the community.
Use your biographical summary
to demonstrate your skill both as an instructor and as a
marketer.
"Interest in dance" is not a
characteristic that shows up in census statistics. You will need
to do something different to demonstrate that your studio will
be successful.
Most notably, use the
information that you provide on your own background to highlight
your skill. Don't write just a paragraph. Write a page, or two,
or even three if it is warranted. Tell where you learned your
skill, detail where you have taught, outline how many students
you have had, and tell as much about them as is reasonable. And
don't be afraid to throw out big names -- anyone who studied for
a day under Balanchine is better than anyone who didn't.
There's no need to brag. But do
set out your background and accomplishments as completely as
possible.
OTHER PLUSSES FOR YOUR DANCE
STUDIO BUSINESS PLAN
Be sure to include sales of
dance supplies, like shoes and practice clothes. Also, are there
videos you could sell? This may not be a great deal of money,
but it will help.
FOR ADDITIONAL INFORMATION
FOR YOUR DANCE STUDIO BUSINESS PLAN AND YOUR DANCE STUDIO
MARKETING PLAN
If you are locating in a retail
center, the owner/manager of the retail center will be able to
provide you with a lot of demographic information. This will
help you define your realistic market potential.
There is excellent statistical information for your marketing
plan on the dance business as a whole at
BizMiner.
At the home page, look for the
"Industry Search" box. Enter "dance" in the search box. You will
get a range of reports back, such as:
- Women's dancewear, hosier,
and lingerie
- Dancewear
- Square dance apparel
- Dance studios, schools, and
halls
- Dance hall services
- Dance hall or ballroom
operation
- Dance instructor and school
services
- Childrens' dancing school
- Dance instructor
- Professional dancing school
- Dance band
- Aerobic dance and exercise
classes
The Financial Analysis and
Marketing Research that BizMiner provides is based on data from
hundreds of dance studios. You need to be familiar with this
because this is the information that your lender will review to
determine if your projections are in line with those of other
dance studios. Do review them to satisfy yourself that you are
indeed within reasonable parameters of the industry as a whole.
Odds are, you will find the
information very helpful in writing your plan as well.
YOUR LIKELY LENDER/INVESTOR
The
SBA
may be your best option. Go talk with a couple of local SBA
lenders and see what they can tell you.
YOUR ONLINE PRESENCE
As more and more businesses are
going online, yours may too. There are some excellent dance
sites already online. There is, however, always room for one
more. At a bare minimum, you will want prospective students to
be able to see your studio and get an idea of the type of dance
that you teach. For the easiest way to build an excellent
website, see the best
web host . YOUR
DANCE STUDIO BUSINESS PLAN
There are a number of different
styles of dance that you might focus on, such as:
- Dance classes
- Dance school
- Dance studios
- Hip hop dance
- Latin dance
- Dance instruction
- Jazz dance
- Salsa dance
- Modern dance
- Dance videos
- Ballroom dancing
- Hip hop dance
- Ballet
- Tap
- Street dance
- Belly dancing
- Dance academy
- Tango dance
- Flamenco dance
- Swing dance
- Belly dance
- Dance clubs
- Disco dance
- Breakdance
- Kids dance
- Dance education
- Japanese dance
- Dance art
- Professional dance training
- Waltz
- Salsa lessons
- Disco dancing
Your business is truly a business
built on passion. Your dance studio business plan will most
certainly reflect this passion.
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