Get Experience in Management
Whether you’ve been dancing for 5 years or 50, you’ll need experience teaching and managing at a dance school to be successful in opening your own. Dance alone won’t prepare you for the roles you step into as a business owner.
If you currently teach for a school, ask to help in the office 2-3 days a week. If you can’t find a formal management role, ask to manage one project or season at the school you teach at. Coordinating a team of volunteers will give you just as much experience as managing the school. You will also build your reputation. The connections you make before opening your school will pay off when you start looking for employees and students.
Make a Business Plan
Making a business plan is essential even if you don’t plan on taking out a small business loan. Your plan will outline your goals and how you plan to operate your dance school. You should include:
- a summary and description of your business
- a market analysis including local competitors and demand
- a detailed list of the products and services you will offer
- financial details of your expected costs
- details of legal requirements and how you will meet them
- staffing requirements and payroll plans
Take your time in the planning process to prevent future roadblocks. Make sure you know the legal requirements including what type of business license you will use, what insurance you will need, and how to register for state and federal taxes.
Find a Location
Once you’ve made a detailed business plan, you’ll have an idea of your rent budget. Based on this budget, consider what you can sacrifice to minimize expenses. If you plan to run multiple classes at a time you’ll need a location that has multiple studios. Running one class at a time will let you use a smaller space and avoid hiring additional staff. Alternatively, if you lease studio space to independent teachers you can reduce marketing costs and choose a roomier location.
Do you need a separate office or will a filing cabinet below the front desk suffice? How much storage will you need? If you plan to sell apparel, will you need a display area? These are the questions you will need to answer for yourself. Don’t forget to consider parking, especially if you plan to host events.
The Grand Opening
Once you have your business plan, a location and the legal requirements sorted out you can move on to the fun part. Choose a business name, register as a legal entity, and get set up. Decorate your new space, launch your online presence, find the right dance school management software and open your dance school.