Now, I'm not going to get very detailed about the info in today's email...
Not because I don't want to, but because there just isn't space in an email to do the topics justice.
But, here's a quick rundown of what I did, and why:
#1 - I Boosted My After-School Program
Why did I do this?
An extra $8,000 a month in revenue all year long. And that's steady revenue, not money that comes and goes with the seasons.
After-school pick up programs are a fantastic way to stabilize the income in any martial art school. However, I see a lot of school owners screw them up and then swear them off forever.
If you don't want to lose money on running an after-school or summer camp, and you don't want your school to become a day care, you need to follow a proven system for adding these programs to your school.
#2 - I Boosted My Fitness Programs
Fitness kickboxing has always been a big revenue generator in my schools, second only to my kid's programs.
However, I needed a rapid influx of cash. So what did I do?
I added fitness boot camp classes. Now, you may think, "So what? Everyone does that in their school."
Not so fast... to my knowledge, I was the first martial art school to run a martial arts fitness boot camp. In fact, after I started talking about it in this newsletter, dojos started adding them right and left.
Sadly though, the industry-wide rush to add boot camp classes screwed up the market. You used to be able to charge $150 to $300 a month for boot camp classes.
Not any more. The market became saturated, and that lowered the expected price for these services.*
Still, I made an additional $4,000 to $5,000 a month running those classes when I first started, and it helped me increase my revenues in a major way.
#3 - I Got Busy With Added Profit Centers
This includes everything from Pro Shop sales to special events. I simply started working my tail off, and it paid off. If you want to know how I did it, get my book, The Profit-Boosting Principles on Amazon.
And that's it in a nutshell. Those three things added about $10k to my revenue in that school in a little under a year. Not bad for just a few extra hours of work.
By the way, this story is almost complete, but there's one more footnote to the tale that I want to share with you tomorrow.
Trust me, you need to hear this story... it's about how I almost screwed my dojo up all over again, all because I was trying to be a nice guy and help someone out.
I'll send you an email detailing that story tomorrow, so keep an eye out for that.
Until next time,
Mike Massie
MartialArtsBusinessDaily.com
P.S. - *Not that you can't make money with fitness programs anymore... it's just that the market has changed drastically. I'll have more info for you on that in the coming weeks, so stay tuned for that info.
