As a studio owner, you can increase revenue little by little, covering many of the bills you need to pay to keep your business alive. Here are a few tips for generating more income:
1) Birthday Party Packages. You can put as much effort into this or as little effort as you want. You could easily rent the space of your studio or also offer decorations, snacks, food, hands to help, etc. A tiered, birthday package could give your customers options as well as easily increase the revenue for your studio. A pre-booking option could generate more income in the slower business months!
2) Minicamps/Workshops/Intensives. Offering a class or workshop that has requires little commitment for a customer might be what attracts them to your studio. Many families want their children to experience every activity, and with a weekend minicamp you can bring those families into your studio!
3) Vendor Fairs/Silent Auctions/Trivia Nights. Use your studio as an event space for charity or community involvement. These is easy marketing for you and for small vendors who just need a booth to set up in a large space. Our studio hosted one last year and it was a successful event!
4) Rentals. Think about opening up your space to support groups, dance organizations, fitness coaches, photographers, etc. This can generate passive income for your studio, while exposing more people to your business. I recommend setting a minimum use of hours per month and making sure they have their own insurance, which will prevent you from future problems.
Try to be as creative as you can!
I talk more about this in my free downloadable PDF on 20 Ways to Grow Your Studio Revenue. Click here to download the PDF!
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