The Business Plan
Regardless of whether you are new to this business or are currently an active business owner, a working business plan is essential. This plan will have layouts for lesson plans, performances, retail, community activities, strategies, advertising and marketing, and new thoughts and ideas for producing income weekly, monthly, yearly, and 5-year goals.
Lesson plans – Styles of dances to be taught with their class schedules. Lessons to be taught by studio owner and other instructors.
Performances – Profit and non-profit by soloists and troupes. Performances by self, school troupes, and subcontractors.
Retail – Merchandising within the studio and retailing at outside events.
Community activities – dance demonstrations and speaking engagements at women’s clubs, schools, and other locations.
Strategies – Established and experimental ideas for advertising, marketing, and selling.
Advertising and marketing – using traditional methods and experimenting with new or fresh ideas to generate more students and income.
Creativity and imagination – for having thoughts or ideas which have never been done and making them workable for the dance studio.
The business plan is your visual partner and listener which records your written words. It is a living guide under your control. But, It is flexible and subject to change.
Primary Income Makers
Retailing costumes, accessories, jewelry, hair and feet ornaments. CDs and DVDs, dance props, and specific percussion instruments are essential for students as performers.
Performing is a part of the dance experience. Provide classes for those students who wish to perform. Ready troupes for performing in both profit and non-profit opportunities.
As a studio owner there is much that can be done by self. However; as your business grows there will be a need for hiring others or using subcontractors.
Show promotions offer added revenue. Present workshops or seminars in your community. Workshops are normally one day and seminars occur over a weekend.
As the student volume increases so will the the products and services.
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