starting a school.

[andurilking2]

well here goes me and my ma buddy were talking about starting a school over some drinks this weekend and we both loved the idea, we are starting to get serious about raising money for a facility does anyone have any pointers on this stuff, such as fund raisers equipment advice, property advice, building advice, management advice, ect. We are both new at this.
any advice will be greatly appreciated.

 

[andurilking2]

this is another thing i would appreciate advice on

 

[kkbb]

1. As the saying goes...location..location.. location.

2. Offer something different! Tons of martial arts schools all doing the same old thing. By this I don't mean your art... I mean cirriculum.

3. Teaching children is a must for paying bills. (Have lot of tylonol on hand)

4. Just because you think your art is awesome..the general public don't know...and for the most part don't care. Don't think people are going to flock to your school because of your rank, or your art.
You could be doing the art of "pencil twirling" (there is a lot of crap out there that you will be competeing against.) as long as your presenting it or marketing right.

5. Be the most expensive in the area.
a) perception is everything
b) you will have just as much financial problems with the student (or parent) that pays you $25 or $30 per month as you would with one that pays $60 to $70 per month.
c) you will only need one of the latter as compared to the 2 of the former

6. Trial program! An absolute must. Builds bonds with student before asking them to commit.

7. Insurance is a must. Alot of associations out here...like the CJA have insurance ...$15 to $30 per student

Just a little info from experience...

 

[andurilking2]

especially the insurance ill have to check that out that seems really cheap as compared to most of the insurance for a ma school

 

[lvwhitebir]

NAPMA has a book about opening and operating a martial arts school. I found that to be very helpful. It talks all about how to find the location, how to have an open house, and information on teaching different groups.

NAMPA and MAIA are also good for ideas on the business side of things. They both have a lot of turn-key programs that can be offered to get you going as well as marketing slicks.

I would get a billing service going soon after you open. You want to offer a wide variety of billing options. It also keeps you from being the "money-grubbing" bad guy when people don't pay their tuition.

Finally, make sure you and your buddy have a *written* contract as to who does what, especially with money. I've seen several "handshake" agreements fall apart over disagreements and then the school follows.

WhiteBirch

 

[Seig]

Get your business license and open wholesale accounts with suppliers. This will not only save you money, but make you money as well. I will try and remember to post a link later to where you can get some decently priced insurance. I hate to say it, get contracts. I tried doing the weekly pay no contract thing and it has bit me in the rear end, HARD. Make sure you let people know you are there, lots of signs. Do not over extend yourself.

 

[RCastillo]

Originally posted by andurilking2
especially the insurance ill have to check that out that seems really cheap as compared to most of the insurance for a ma school

Sportsfitness.com has ins for 800 a year, if running a studio, or 150-175 dollars for Personal Trainer Ins.

 

[Galvatron]

Location: open up within a few miles of an ATA Tae Kwon Do school.With them charging $100+ a month you can charge the inflated price of $85.00 a month and still look like a bargain.

Competition: Know what your competitors are charging and how their pricing plans are worked out. Make yours to look more appealing.

Contracts: If you want to make enough money to teach martial arts as your full time occupation, you will most likely have to use contracts to guarantee income. Offer a "month to month" plan to people who are squimish about signing a contract, but charge them more per month for it.

Children: As said earlier in the thread, Children are your bread and butter. If you plan on teaching out of a dedicated facility and not a YMCA or civic center, you will rely on kids to keep the rent paid.

Bleeding heart: Don't let yourself get too soft on your students who come to you with money problems and can't pay. When my dad owned a school he was routinely losing $200+ a month from students who couldn't pay but that he didn't have the heart to tell them "no pay no play". It'll be hard because you'll have students who have been with you for years come to you and tell you a sob story, but you have ot remember this is your livlihood.

Best of luck !