You may think that you know what you’re getting into when you decide to open a dance studio. After all, you’ve likely been involved in the industry for a good part of your life. However, there are definitely some tough lessons you’ll learn when you enter the business side of the dance world. Here are 8 things you’ll come to understand throughout your time as a dance studio owner.
1. ‘No’ is a powerful and necessary word
As a new business owner, you’ll likely want to say yes to everything. It’s hard to tell people no, especially when you are just starting to build relationships with your customers. However, make sure you balance the needs of your students and parents with the needs of the studio. It’s a delicate scale, and you’ll occasionally have to use “no” to keep the balance in check.
2. You need an written, actionable plan
You probably have goals, plans and aspirations for your studio, and that’s great! But you should really be putting them in writing, otherwise they’re easy to forget or lose sight of. This is where an actionable business plan comes in handy – write a detailed roadmap before you open your studio and make sure to update it every year.
3. Your dance know-how isn’t enough
Your pirouettes and plies will come in handy when you’re teaching young dancers, but they’re not going to help you much when it comes time to pay taxes, send invoices or market your studio. Small business owners of all sorts need to have some business-savvy if they’re going to excel, so you may need to purchase a how-to book or sign up for a seminar to fill out your skill set.
4. Customer service isn’t a cakewalk
No two mama dramas are alike, and you’ll be faced with a host of problems throughout your time as a studio owner. It’s important to figure out how you’ll deal with problem parents, diva students and other issues that affect the atmosphere at your school. Your customer service can make or break your studio, so be sure to give it the attention it deserves.
5. Your support system is key
Because you’re serving as a teacher, marketer, book keeper, administrator and more, there will be days when you’re exhausted and overwhelmed. This is when you need your support system more than ever. Whether it’s your spouse, friend, partner, child or fellow teacher, you should have someone who’s there to lend a hand on your toughest days. If you go at it alone, chances are that you’ll wind up with more gray hair than you bargained for.
6. Not everyone will like you
It’s human nature to want people to like you, but very few business owners go through their careers without stepping on a few toes. Sometimes you’ll have to say “no” – as mentioned in No. 1 – and this can lead to upset parents, dejected dancers or disgruntled teachers. Do your best to mend the relationship when this happens, and continue on your way.
7. At the end of the day, you’re running a business
The reality of the business world is that only 50 percent of companies survive for five years and just 30 percent last 10 years or more. If you’re in this for the long haul, you need to keep in mind that you’re running a business! Each decision you make should be beneficial to the studio if you want to make it in the competitive world of dance.
8. The hard work is worth it
You know the happiness that fills you up when you do something you love? Well you’ll probably get to feel that way every day you’re in the studio. Teaching people to dance is amazingly rewarding, and you’ll find that even on your longest days, you have a smile on your face.