It’s hard to believe it, but the first quarter of 2016 is almost behind us! During this exciting time of year, as a studio owner you are likely busy finalizing details for recital season to ensure your students feel and perform their very best.
However, even as we spring forward, it’s also important to look ahead to the summer months, which provide numerous opportunities to boost enrollment and determine business objectives.
Here are a few second quarter to-dos that will help set your studio up for success beyond recital season:
Brainstorm Ways to Keep Students Engaged Over the Summer
During the lazy summer months, it’s easy for students to neglect their training thereby losing some flexibility and technique. Encourage students to stay in shape by offering summer camps, fitness classes (Zumba, Barre, Pilates) or workshops with special guest instructors.
To keep more experienced students involved, give them an opportunity to teach or student-teach a class. This will not only keep them in shape, but also assist in developing leadership qualities that can help them excel both inside and outside the studio.
Review Studio Finances and Identify Ways to Increase Profit
Summer is the time to assess your financial situation. Did you meet your revenue goals for the year? Do you feel confident in the growth of your business? Take some time to meet with a financial advisor. If needed, adjust tuition rates for the following year, and set a budget for various expenses.
Furthermore, consider setting a dress code and offering classwear directly to students. With a small studio store or easy online e-commerce program, you can make purchasing classwear convenient for parents while increasing revenue at the studio.
Set Your New Class Schedule for the Fall
You might be thinking, “Time to think about fall already?!” Believe it or not, spring is the time to start thinking about class offerings and schedules for back-to-school season. Do some instructors need to switch up their schedule? Are there classes that you don’t plan to offer next year or classes that you are going to debut? Now is the time to figure out those details so that you have time to plan and promote the new season’s offerings to your community.
Market Your Brand
As you look to increase enrollment rates for the start of the fall season, it’s important you allocate resources towards marketing your brand. Consider offering personalized apparel that your students can wear in the studio, around town and at school. Buy ad space in local publications. Sponsor local events and provide your logo for promotional materials. Share fun and interactive content over your social media channels. However you choose to market your brand, make it a priority during the summer months when many parents will be considering extracurricular activities for their children before the start of the new school year.
What’s on your business to-do list for the next few months? How do you balance all of your management responsibilities? We want to know! Comment below to share your thoughts.