Thriving Revenue Streams Your Studio Might Be Missing Out On

<p>Last week we touched on the fact that you may be missing out on additional revenue in your dance studio, so as promised I’m now going to lay out the 11 revenue streams that exist in a dance studio.<br /> <br /> Birthday Parties<br /> Costumes<br /> Group Lessons<br /> Limited Edition Merchandise<br /> Private Lessons<br /> Recital/Concert<br /> Shop - Snacks and Drinks<br /> Studio Hire<br /> Uniforms<br /> Workshops & Camps<br /> VIP Program<br /> Now, let’s talk birthday parties!<br /> <br /> The thought of running a birthday party might make you feel a bit queasy (never work with kids or animals, don’t they say?), but hear me out for a minute. Some studios don’t operate on weekends and if you do, it’s generally Saturday, not Sunday. Birthday parties are another great source of additional income, plus it’s another great opportunity for your ideal new students to be exposed to your space!<br /> <br /> True, it is more work, but it’s work you get paid for whether you run them yourself or you simply form a partnership with one or a few local parties companies, in which they can hire the space from you, run the parties, clean up and leave.<br /> <br /> Your job? Take the fee and enjoy your weekend!<br /> <br /> Alternatively, you can run the parties in house and have your teachers run the party – it’s up to you. I have seen both ways work really well all around the globe. Have a think and make a decision whether you want to create your own party brand or if you want to partner with an existing party business and rent them your space.<br /> <br /> Whatever you decide, one tip is to ensure every child who attends the party receives some information about your studio along with an exclusive offer for attending the party. You may give them a magnet or flyer or keyring… think of something they and their parents can keep that encourages them to take action (say, make the offer valid for the next seven days only).<br /> <br /> Make sure to watch this week's Revenue Streams Video Training right here!<br /> <br /> --<br