Thriving Revenue Streams Your Studio Might Be Missing Out On

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Manage episode 253900171 series 1048527
By Clint Salter. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

Last week we touched on the fact that you may be missing out on additional revenue in your dance studio, so as promised I’m now going to lay out the 11 revenue streams that exist in a dance studio. Birthday Parties Costumes Group Lessons Limited Edition Merchandise Private Lessons Recital/Concert Shop - Snacks and Drinks Studio Hire Uniforms Workshops & Camps VIP Program Now, let’s talk birthday parties! The thought of running a birthday party might make you feel a bit queasy (never work with kids or animals, don’t they say?), but hear me out for a minute. Some studios don’t operate on weekends and if you do, it’s generally Saturday, not Sunday. Birthday parties are another great source of additional income, plus it’s another great opportunity for your ideal new students to be exposed to your space! True, it is more work, but it’s work you get paid for whether you run them yourself or you simply form a partnership with one or a few local parties companies, in which they can hire the space from you, run the parties, clean up and leave. Your job? Take the fee and enjoy your weekend! Alternatively, you can run the parties in house and have your teachers run the party – it’s up to you. I have seen both ways work really well all around the globe. Have a think and make a decision whether you want to create your own party brand or if you want to partner with an existing party business and rent them your space. Whatever you decide, one tip is to ensure every child who attends the party receives some information about your studio along with an exclusive offer for attending the party. You may give them a magnet or flyer or keyring… think of something they and their parents can keep that encourages them to take action (say, make the offer valid for the next seven days only). Make sure to watch this week's Revenue Streams Video Training right here! -- Once you've watched it, make sure to grab your copy of the NEW "Ramp Up Your Studio Revenue Report" right here - dsoa.com/studio-revenue This FREE report covers everything a Studio Owner needs to know about Finance including: - The 12 most profitable Revenue Streams a Studio Owner should have in their studio - The 7 Profitability Metrics every Studio Owner must track (and how to calculate them) - The 2 best Class Pricing and Financial Models that have worked for my private mentoring clients And so much more! Get your FREE digital copy of the report right here - dsoa.com/studio-revenue

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