Beat the Summer Cash Flow Blues
Tiffany Henderson with Amanda Scott
Twinkle Star Dance
I am not sure who decided that in the summer we completely change our business model as dance studio owners, but I am here to say year-round dance season changed my studio and my life. We all know the struggles of summer in a dance studio: decreased monthly revenue, using recital profits to “float” through summer, financial hardships in summer leading to stress at the start of the new season, and not being able to step away to recharge.
I want to let you in on a little something I call “the un-summer summer.” Here are six of my tried and true tips to beat the summer cash flow blues:
Recital Profit - Think Beyond Recital Tickets
When you have audience members at your shows they want to buy something. Offer flowers, trophies, t-shirts, concessions for them to buy during the performance or even send out a “buy by reply” email to them to preorder.
New Season Registration - Be the First Activity on the Family Calendar
Start your new season enrollment early while your dancers are still currently enrolled. We run our new season registration in April for classes that begin in July. Offer the best promotion on your registration day and generate a buzz 2-3 weeks prior.
Spring Sessions - Never Stop Taking Enrollment
Common sense says we don’t turn away business at anytime of the year. Notice trends in your studio and add new classes to your schedule that run March - June. You could even offer them a chance to participate in the recital by using in-stock costumes.
Don’t Take a Traditional Summer - Offer a Year-Round Dance Season
Your business cannot survive on revenue from summer dance camps alone! Parents actually prefer to register for the class, day, time, and teacher that they will have all season and pay $65 monthly dance class tuition versus $125 for one week of dance camp.
Additional Revenue Sources - Add to your Bottom Line
By offering dress code and costumes I aim to make commissions that roughly equal one month of tuition revenue. Check out Revolution Dancewear for my recommended dress code.
Summer Camps and Intensives - Keep Hours Conservative and Price Competitive
We run Summer Camps and Intensives in conjunction with our year-round classes in June, July, and August. We max our camps out at between 2-3 hours per day and offer flexible times and daily rates.
Want to know more best business practices to help your studio stay cash positive in the summer? Join me in my hometown Livermore Wine Country, CA Thursday, February 27 - Friday, February 28 at Thrive Studio Conference. There is also be a special appearance by Suzanne Blake Gerety from DanceStudioOwner.com.
