Opening a martial arts school is becoming an increasingly popular choice for many martial arts students, instructors and entrepreneurs. Certainly it is a profitable business to be in these days. especially with the tens of millions being spent on promoting the industry by the UFC. Once again martial arts are big business and are actually one of the few industries that are continuing to grow by leaps and bounds in the current economic environment.
So if you have been contemplating the idea of opening your or martial arts school or training facility what are the real steps that you need to take to make your dreams a reality?
Planning must be your first step. Without proper planning it does not matter how great a teacher you are or what great concepts you have you will sooner or later run into problems. Prepare a thorough business plan. You can do it yourself using online programs or following the SBA guidelines or hire a professional do it for you. The more detailed and thorough your plan is the more money you will save later and the easier your operation will run.
Testing & Recruiting Students
Your next step should be to test and recruit for students. Yes, before you open! This will make sure your projections and plans are realistic and will ensure you already have students lined up and you will be bringing in cash from day one.
Finding A Location
Of course finding a location is crucial. Now is certainly the perfect time for locking in great deals on commercial real estate with owners and managers offering great move in specials. Analyze your needs carefully and the potential for the dojo in the future. Should you go for a high street location or save money with a less visible location? Does the premises have enough parking and is there enough room to expand to the optimal number of students to make a profit?
Furnishing Your Dojo
Next you need to furnish your dojo and get all the martial arts equipment you need for training. This can be quite basic at first and it is wise to wait and use profits to acquire more training equipment than burning through too much capital at the beginning. It is also wise to have students purchase as much of the gear as possible in order to save on your overhead.
When it comes to launch time you will have wanted to have reserved a good budget for an opening celebration and initial marketing blast to build up as much hype as possible and attract attention. Make sure you get in the local news.
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