What is the best way to start a ballroom dance studio? How much does it cost? What is its revenue potential? What things would I need to open my doors and start receiving new students?
Finding a location, making the investment, putting up mirrors, decorating, installing a sound system, laying a floor, and hiring a staff is just half the battle.
Then you have to get students buying lessons immediately.
Thank goodness there is a formula for building a successful ballroom dance studio business from scratch.
There are fundamental and basic steps a business must do when preparing to open. The list will usually start with the question of financing the new adventure. When opening a ballroom dance studio, the startup cost will depend on how big of space you choose and the lease, and how many instructors you have when you open your doors.
The initial cost for a lease, business needs i.e., floor, sound, and decertations, construction costs i.e., paint, building add-ons, cleaning supplies, misc., and getting all the necessary permits allowing you to open can range from $35,000 to $250.00
You will need to train a staff so they can make you money. A full-service school is normally more exciting if it is active in showcases, competitions, and other events. This can only happen when you have a staff.
*The cost to train people for 8 weeks to dance, teach, and how to sell a dance lesson costs around $5,000. Since your business is new, you should have 3 months payroll in the bank = $15,000.
Business Tip:
6 months to a year’s worth of expenses in the bank is the most practical way to open any business.
Things to consider when choosing the right space in the right place:
- How many lessons must be taught to cover the lease payment each month
- Check and see how high the ceilings are – when they are high it will cost a fortune to heat or cool your studio
- Make sure there is adequate and well-lit parking
- It must have two bathrooms – a different Men’s & Women’s restroom is a must.
- Seedy and run-down locations may be less expensive, but you may not get as many customers because of it.
- Ask yourself this question, “If I was a woman, an older person, or a parent with a child would I feel safe and comfortable coming here?” If not, then do not waste your time and money.
Amazing Dance Solutions 