Daytime Revenue in Your Studio.... Things To Consider Before Launching New Programs

Increasing revenue opportunities in your studio sounds amazing. Let’s unpack the details and systems required to make this a natural and stress-free expansion for you.

It’s unfortunate that so many studios out there have rooms empty during the day. That’s a lot of wasted space and lost revenues that none of us want, and a ripple effect that invites us to think about different options and possibilities.

We have a tremendous opportunity in our dance studios to bring in additional programs that will fill our rooms with new types of clients, such as yoga, fitness classes, pilates, Mommy and Me classes, art, music, and so much more!

While these are all great possibilities, there is a considerable gap in our market that I have discovered and can be very profitable; a performing arts preschool program!

This is a vastly different program that isn’t being offered out there, so let’s begin with addressing a few key areas to be mindful of.

Some coaches out there are offering the idea of increasing our income by $15,000 per month. While this sounds like a dream, let’s ensure that this doesn’t become a nightmare. First of all, think about the Vision and Mission that your business was created for and check if the new service aligns with these.

Jumping to some practical things to be mindful of:

• Leasing: If we are owners of our space, we’re good to go. If we rent it, the first step is to check the leasing contract (maybe subleasing is not allowed).

• Insurance: Apart from bringing beauty and happiness through our performances, we are also responsible for the safety of everybody inside and around our dance studio.

• Branding: Your brand will be shared with everyone who works with you, and your reputation will be affected positively or negatively. 

• Emotional Intelligence: It will be needed to control the possibilities of jealousy and conflicts between your team and the new team.

• Licenses: Researching requirements according to your local laws will avoid hidden surprises.

• Physical modifications and much more…

Let’s jump on a discovery call and see if we can find some money gaps for you and your studio. We’ll review your first steps and where you need to focus on making this new revenue stream a reality for you.