If you own a studio or are thinking about owning a studio, learn from my successes and failures.
Beat the Summer Cash Flow Blues
Beat the Summer Cash Flow Blues
Tiffany Henderson with Amanda Scott
Twinkle Star Dance
I am not sure who decided that in the summer we completely change our business model as dance studio owners, but I am here to say year-round dance season changed my studio and my life. We all know the struggles of summer in a dance studio: decreased monthly revenue, using recital profits to “float” through summer, financial hardships in summer leading to stress at the start of the new season, and not being able to step away to recharge.
I want to let you in on a little something I call “the un-summer summer.” Here are six of my tried and true tips to beat the summer cash flow blues:
Recital Profit - Think Beyond Recital Tickets
When you have audience members at your shows they want to buy something. Offer flowers, trophies, t-shirts, concessions for them to buy during the performance or even send out a “buy by reply” email to them to preorder.
New Season Registration - Be the First Activity on the Family Calendar
Start your new season enrollment early while your dancers are still currently enrolled. We run our new season registration in April for classes that begin in July. Offer the best promotion on your registration day and generate a buzz 2-3 weeks prior.
Spring Sessions - Never Stop Taking Enrollment
Common sense says we don’t turn away business at anytime of the year. Notice trends in your studio and add new classes to your schedule that run March - June. You could even offer them a chance to participate in the recital by using in-stock costumes.
Don’t Take a Traditional Summer - Offer a Year-Round Dance Season
Your business cannot survive on revenue from summer dance camps alone! Parents actually prefer to register for the class, day, time, and teacher that they will have all season and pay $65 monthly dance class tuition versus $125 for one week of dance camp.
Additional Revenue Sources - Add to your Bottom Line
By offering dress code and costumes I aim to make commissions that roughly equal one month of tuition revenue. Check out Revolution Dancewear for my recommended dress code.
Summer Camps and Intensives - Keep Hours Conservative and Price Competitive
We run Summer Camps and Intensives in conjunction with our year-round classes in June, July, and August. We max our camps out at between 2-3 hours per day and offer flexible times and daily rates.
Want to know more best business practices to help your studio stay cash positive in the summer? Join me in my hometown Livermore Wine Country, CA Thursday, February 27 - Friday, February 28 at Thrive Studio Conference. There is also be a special appearance by Suzanne Blake Gerety from DanceStudioOwner.com.
NEW YEAR, NEW YOU, NEW STUDIO
NEW YEAR, NEW YOU, NEW STUDIO
Tiffany Henderson with Amanda Scott
As this season comes to a close and 2020 is fast approaching, I am sitting with my family on vacation and reflecting on 20 years of owning and operating a dance studio business. While my goals are a little different than when I first opened my one room dance studio on Vacso Road, I am excited to take some much needed time to myself to reset before I return to the classroom in the new year.
Looking ahead at our annual recital productions I am inspired by previous generations - Joe Tremaine who taught me that even after a long weekend working you still arrive on time Monday morning and get back in the studio to create; Michael Williams whose musicality and commitment to detail always push me to add that extra nuance when the music says so; Miss Carol, my very first dance teacher, who said yes when I asked if I could come on the dance trip to Hawaii even though I was only a recreational dancer.
It is clear to me that the impact we have on our students goes beyond the dance steps and extends into the world around us. We are doing important work shaping future generations.
New Year
Feeling out of sorts after the holiday hustle? Reset at Thrive Studio Conference in New Jersey and California. View the entire Curtsy Collection for Twinkle Star Dance, plus attend the brand new “Beat the Summer Cash Flow Blues” seminar on how to generate profit to prepare for the summer months.
New You
Experience 5-Star Luxury Dining and Customer Service at the Four Seasons Resort at Troon North. Don’t miss the rebranded Pinnacle Dance Conference + Retreat July 10-12, 2020. Our three-day conference benefits dance studio owners, teachers, and administrators alike in an intimate atmosphere.
New Studio
Now is the time to make necessary changes in your business. Looking for engaging classroom content for your 2-6 year olds? Need to get all of your teachers on the same page? Check out our Twinkle Star Dance Curriculum and Choreography.
Happy New Year!
Tiffany
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Four Ways to Use Problems as Access to Studio Growth
Four Ways to Use Problems as Access to Studio Growth
Suzanne Blake Gerety with Amanda Scott
DanceStudioOwner.com
Running a dance studio is personal. It is nearly impossible to keep the emotion out of our business. There’s a level of care and concern we are expected to give our clients. And on top of that we develop relationships with families that can span 15 years or more if a dancer started with us when two or three all the way through graduation.
So when there is a problem at the studio - with a dancer, parent or staff member - we feel it. The good news is that problems are your access to growth. As a business owner, there will always be a fire to put out - student retention, staff turnover, a new studio opens down the street, etc. Once we accept that we will encounter problems we can develop the courage to claim our voice, vision, and mission as a studio owner.
Since it is not a matter of if you will face problems, but when I want to talk about how to put your business hat on and tackle the problems with a growth mindset. The better you are at solving problems, the better your business. I think there are four things that can help us prepare:
Continuing education
Community
Making time to work on your business
Reigniting your passion
Continuing Education
Running a dance studio is a complicated business, it requires a delicate balance of art and business. It’s more important than ever to use new and innovative marketing and business strategies to gain an advantage to stay ahead of the competition. What may have worked one, two or three years ago isn’t always working anymore. This is why embracing the “life-long learner” approach to how you run your studio will give you an edge today. The best investment you can make in your business is you!
Community
The quickest route to success as a dance studio owner isn’t traveled alone. As an industry we all want more students to try, enjoy, and love dancing, but it’s unlikely the studio owner across town is sharing how they find and retain their students. Often the best access to growth is “getting out of your own backyard” by connecting with other studio owners across various geographical locations -- who are in it with you -- and willing to share what works. There are plenty of marketing people who are giving dance studio advice so be aware! Surround yourself with all stages of business experience and you’ll be amazed at how rich the creativity and ideas begin to help you grow.
Make Time to Work on Your Business
There are two important things to consider when it comes to time. First, time is your most valuable asset. You control it and you can’t get more of it. So treat it like the most precious part of your day. Second, put some accountability loops into your time. This will kick you into high gear. For example, in the studio, give yourself a short-burst of time to work on a focused task. I work two hours a day on revenue generating activities. Meaning, for two straight hours it has to be focused efforts on marketing and reaching new students. Put your phone on airplane mode, minimize distractions and get it done! Out of the studio, I like to take 2-3 days to get away and hone in on bigger projects like selecting costumes, learning the newest trends and best ways to spend my marketing dollars, and refilling my cup with other new business ideas.
Reignite Your Passion
Burnout is real, it’s important to stay inspired and not overwhelmed. There will always be more on your to-do list. In our 24/7/365 communication driven life, now more than ever there is a need to create boundaries, systems and structures so you can keep loving what you do. Studio owners have asked us to do more in-person training to bridge the gap from online to in real life. Thrive! Studio Conference is a two-day retreat-style event, personal support and learning. It combines all the things that we see and know work into an accelerated event plus you get to cross costume selection off your list and connecting with one-another.
Ready to tackle your studio problems and turn them into growth opportunities? Join Suzanne and Tiffany at Thrive! Studio Conference. From the creators of Energize and Twinkle Star Live— Join us for an invigorating two-day retreat in Dallas, Texas. Thrive was designed with the busy studio owner in mind. We’ve planned fresh new seminars that will empower you and your staff to take your studio to the next level.
Get Tickets and learn more: https://www.thrivestudioconference.com
Suzanne Blake Gerety is the director of DanceStudioOwner.com, the leading resource to help you build a successful business and keep the passion for dance alive. She is the second-generation owner of her family’s studio in N.H., where she and her mom continue their mission to reach dancers of all ages and experience. Suzanne was born into the dance studio life and brings the perspective of owner, educator, mom, and businesswoman.
Suzanne is a long-time featured columnist for Dance Teacher Magazine’s, “Ask the Experts” and regularly teaches business seminars at industry events. She is known for helping studio owners through important transitions: start up, growth points, faculty and employee relations, rebranding, financial hardships, and buying and selling businesses. Her authentic and real-life approach to solve complex problems is what fellow colleagues say makes her guidance so valuable.