What if your studio could thrive in any economy?
So many studio owners are unsure about their future. They’re losing sleep, not sure what the next year will bring, or how the economy will affect their enrollment and retention.
They’re losing sleep and stressing about being able to pay the bills. I remember when my studio was like that. I wouldn’t wish that on anyone!
On top of all of that there’s a lot of speculation right now about what the economy will be like a couple months from now. Reports are unreliable, and it seems like depending on who you choose to listen to you’ll literally get exact opposite answers and advice.
It seems like just a short time ago people were talking about us being on top of a potential real-estate bubble. Now that seems to be the last thing on most people’s minds. So many people are scared and making bad decisions for their studio because of it.
Even in a down economy there are people looking for what you offer, but as an economy starts to turn down you can’t afford to run a sloppy business anymore. Your systems need to be optimized or your business will suffer more than it needs to.
There are three keys to operating a successful studio in any economic environment:
“If you’re not doing something that you jump out of bed in the morning looking forward to it’s hard to sustain over time.”
1. Something you’re passionate about
If you’re not doing something that you jump out of bed in the morning looking forward to it’s hard to sustain over time. Running studio where you’re constantly tied to the front desk (or doing work you hate) will eventually burn you out. If you don’t fix that it’s tough to grow your business in any economy; good or bad.
2. Something that people will pay for
You need to make sure that what you’re offering is something people will pay money for. In any economy people are looking for value. You do more than just teach dance lessons. You offer life lessons, and so much more. But, is that clear in your marketing, on your website, and in your studio curriculum? If I went to look at your social media ads right now would I be able to distinguish your studio from the folks down the street?
3. Something that you can be the best at
This is a tough one. Every studio believes they’re the best. I talk to a lot of studios. They all believe this. But, once again, is it abundantly clear to prospective students (and their parents) that you are THAT much better than your competition? And remember, the other dance studios in town aren’t your only competition. You’re competing with soccer, lacrosse, music lessons, after-school activities and unmotivated parents. We have to show that we’re better than ALL of those things.
Which of these would you say is your lowest hanging fruit? What needs the most work?
If you can dial in these three keys you’ll weather any economy better with less of your own input.
We’re here to help if you’d like to work with someone that’s made all of these key shifts.
We’re studio owners ourselves and follow our own advice.
We also work with lots of studios around the country to help them grow their own programs no matter where they’re currently at, or what goals they’ve set for themselves.
I’d love to hear more about what your goals are for your own studio and see if it’s something we can help you to achieve sooner than you may have ever imagined.
Is it time?
We’ve opened up a couple more spots on our calendar to do some one-on-on strategy calls with studios that haven’t yet had the chance to do so.
As you can imagine, right now these spots fill up pretty quickly and we can’t work with everyone. So, if you find a time that works for you make sure you jump on it.
Answer the questions on that simple form, and then you’ll be redirected to a calendar where you can choose a time.
On that call we’ll have a couple of questions for you about your own program and student enrollment. Then we’ll walk you through what’s working right now in our own studios and what our clients are doing to see success as well.
Can’t wait to meet you and hear more about your goals!