A dance studio is considered to be a business entity. As such, there are several aspects to consider when establishing and running a successful studio business. These include determining what type of clientele you want to target, designing the curriculum and sourcing instructors for classes, identifying and assessing your competition, and evaluating your potential business costs and future projected earnings.
The type of clientele your dance studio targets will help determine the overall direction and scope of your business. Generally, children and adult dance enthusiasts with professional dancing experience tend to make up the majority of a studio’s clientele. Affluent families are another ideal customer base, since they can afford to attend dance lessons regularly.
Incorporated or not, you must decide what type of legal structure to establish for your dance studio. Some states require that businesses incorporate to protect owners from personal liability. Additionally, if you intend to hire employees, you must obtain any necessary state or local licenses and certifications.
Designing your studio’s curriculum is an essential step in the dance studio business plan process. It should reflect the current trends in the dance industry, while addressing the needs of your prospective customers. For example, if you have identified that dancers prefer to attend more improvisational classes, focusing on this niche could be an effective marketing strategy. Similarly, offering a wider range of dance styles might also appeal to potential clients. Lastly, incorporating music and video into your dance studio business plans can enhance the experience for students and promote brand awareness.