When drawing up a business plan for a dance school, first decide what level your institution will be.
If you intend to open an elite school, you will need to invest significant financial resources in equipment, rent of premises, staff salaries.
On the other hand, the prices for attending classes in such schools will be high — from 1000-1500 dollars.
Dance school business plan: where to start?
1. In order to open your own dance school, you need to register as an individual entrepreneur.
On average, registration takes no more than two weeks. Before opening, you must decide what kind of training will be offered in your institution. In order to make a better choice, you need to carefully study the competitors.
2. When compiling a business plan for a dance school, pay special attention to finding a place.
The area of the hall should not be less than one hundred square meters. This figure includes not only the classroom itself, but also a place for a recreation area, a hall, a shower, a locker room. Note that the location usually does not play a big role.
Features of the preparation of the premises:
- Any dance hall should have good lighting and a reliable ventilation system.
- Mirrors should be placed on the walls.
- The floors must be covered with parquet or laminate.
As for the equipment, here you can get by with lockers in the locker room, benches, chairs, showers, hair dryers, a cooler.
3. The staff includes primarily dance teachers and an administrator.
4. In order for an institution to be successful, it needs excellent advertising.
Print pamphlets, run promotions, run free classes for beginners.
Dance school business plan: start-up costs
In general, whatever your dance school business plan is, your average costs will be:
- 40-50 thousand dollars — rent of a suitable area;
- 70-90 thousand dollars — salary to employees;
- 150-200 thousand dollars — for the purchase of equipment and repairs;
- 10 thousand dollars — registration as an individual entrepreneur, other expenses for paperwork;
- 20-30 thousand dollars — advertising costs.
So, on average, your costs will be about 400 thousand dollars.
How to price your services?
- In order to recruit groups, you should not set tuition prices different from the market ones. Remember that dance schools meet today — a not uncommon phenomenon.
- If your institution cannot boast eminent teachers or stand out in any other way, the cost of one lesson should be no more than $500. In the morning, the bar should be lowered even lower.
- Do not forget that the cost of individual lessons can be made higher. For example, $700 per hour of dancing.
Dance school business plan: project effectiveness
Your dance school business plan will be profitable if you recruit at least 3 groups, each of which will have at least 12-15 students.
With proper organization of the business and competent advertising, a dance school can pay for itself in one and a half to two years.
The competition in this area today is really great. And if your establishment does not stand out from the rest, you risk simply burning out.