I just hit my 2 year mark on opening my school and have had a good bit of luck.
I teach out of a recreation center, so I only have to pay a percentage of whatever I charge. There are no electric or water bills for me, so I have a very very low overhead.
http://martialtalk.com/forum/showthread.php?t=42320
I would recommend you to read that thread and follow it. That's some good stuff.
I never pay for newspaper ads. I stay in the local papers by doing free seminars at churches and libraries. That means I have to call the papers to warn them that I am about to do one though. They always list it for me and half the time they send someone to take pictures and write a story.
Libraries are wonderful places. I hold seminars and classes constantly at the surrounding libraries (I do 4 diffrerent libraries now). That gets me coverage and students.
That above article says to never pay for ad space--create it. That is what I have gotten good at doing. Also, I write self-defense articles and send them in to the local papers for them to print them.
You need a website for your school, but I see you have a website for the Imperial MA Online, so you know how to do that.
Always carry business cards (
www.raisedlettercards.com for 1,000 for $19 and they will upload your image for free). Put them on every tack board at resturants and grocery stores you see.
I am thinking about putting my website url on the backs of the local kids baseball team ($250), but I haven't decided yet.
Get a wholesale account. I have issues with Bold Look, but with them and Tiger Claw, you don't need a business license to open an account. Your rec center director can write a letter for you stating you run a class there and they will open an account for you. That would be standard uniforms for around $15 and belts for about $3. I got an account with KWON that I love, but I had to have a business license for it. I avoid Century because they wanted me to make a $250 first order with them NOT based on wholesale prices. KWON let me make a $15 first order years back and I love their stuff. I use Bold Look a lot, but don't like their belts. The uniforms are nice though (and cheap).
Around here, there are tons of rec centers and all of the jump at chances to get martial arts teachers in them. Just call them and be blunt. Tell them you are looking for a place and are they interested.
That was just random things off of the top of my head, but the biggest thing is to court the libraries. They have been very good to me and for me around here.
AoG