Job description of a belly dance studio owner
Many people enjoy taking belly dance lessons and participating in performances. Once you gain experience teaching and performing, you feel qualified to open a business. Do you want to open a studio in a home environment or do you want to rent a commercial space?
There are many excellent reasons to homeschool; however, zoning regulations may not permit it. During the early stages of starting this business. It is in your best interest to use an attorney for legal advice.
Explore a location in a commercial zoning area that provides a safe area for student parking. Rent or lease a former studio or choose a space that can be customized to meet the needs of the classroom.
Money is a major consideration. Most small businesses need a minimum of five years to succeed. There are many start-up costs and unexpected expenses that occur during the first year of business. Will your bank account be able to cover these expenses when the school’s income cannot cover the debt and your salary?
We love this dance art and want to share our knowledge with others for an affordable fee. You need a business education. Raising capital is a priority when owning a business.
Teaching is part of the income generation for the school. Other money making outlets store additional funds for safe operation. Make a list of all money making ventures. Calculate the number of students to ensure a stable income. List other ventures to supplement basic income?
Maintain a savings account and insurance to cover unexpected needs and emergency expenses.
It is important to invest with personal money and recognize your opportunities to create other income. Don’t borrow money. It may help as a temporary solution, but it will add to the current debt.
Traditional lending institutions like banks consider the entertainment industry high risk and will say no to the loan. Using credit cards will add debt with interest.
Avoid borrowing money from family and friends. They are often the last to see their money back and the hurt feelings will outweigh the loss of friendships.
You are in the people business. Keep them happy. Other methods to help your business are original ideas, solutions and business knowledge.
Summary: Get your brain thinking outside the box with creative ideas for making improvements to increase student capacity. Accounting, contracts and record keeping are on a routine schedule. Dancers don’t find these daily tasks enjoyable or exciting, but regardless of your personal emotions, do them. If you ignore the financial details, how will you know if you are making profits or losses? You need to know about money spent and money received.
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