Pricing a service such as dance education can be tricky. And as costs and the market change, you’ll need to raise prices occasionally to stay profitable. Here’s how two veteran studio owners handle it.
As dance studios seek the best pointe shoes for their dancers and local dance retailers build their inventories to provide just the right shoe for each customer, here’s a look at how pointe shoe makers are refining existing styles, introducing new models and adopting the latest technology and materials.
Tribeca’s Downtown Dance Factory has seen a 491 percent increase in student count over 10 years, becoming one of Manhattan’s largest studios. The owners’ mindful approach to growth has allowed them to create a business where their work/life balance is just right, too.
Use these “key performance indicators” to get the financial details on how your dance studio business is doing—and where you could make improvements.
Customers keep coming through the doors, and you’re continually reordering pointe shoes and leotards. Does that mean your business is profitable? That you’re growing? These eight key financial numbers will tell you how you’re really doing.
Just as online shopping has evolved over the last decade, so, too, has the experience of shopping in a store. Retailers are enhancing their physical spaces with interactive, hands-on merchandising. Here are three trends to watch.
Taking a customer-service approach with parents of your dance students allows you to let go of frustrations and create a satisfying customer experience that’s good for your business, too. A studio owner and a consultant offer tips.
Using social-media influencers and brand ambassadors can be a very positive and successful marketing tool for retailers and other dance businesses. Just be sure they are following these FTC rules about disclosing sponsorships to their followers.
It’s not just an ephemeral fashion trend or a fad. With more diverse dancers comes a market opportunity—and a business challenge—to become more inclusive.