I know what you're thinking, "Tell me something I don't know, Mike!" Yeah, I get that.
Because if you're on this list, you've probably either thought about starting a dojo, or you've tried to start a dojo and it didn't work out, or you own a dojo and you'd like it to be a little (or a lot) more successful.
So I understand that a lot of you already know what it's like to start and run a dojo... but not everyone has the complete picture.
The fact is, a lot of people get into this business because someone in the industry blew a load of sunshine up their backside, just to make a buck. Selling that dream makes a select few people in this industry a lot of money, and I think it's high time to tell it like it really is (again).
So here goes nothing. Let's start with the upside to starting and running a martial art school...
Why Martial Art School Ownership Is The Best Small Business, Ever
I'm not exaggerating when I say that running a martial art school is the best job in the world. Really, I'm not. If you love martial arts, it can be a dream job, no doubt about it.
From the perspective of personal fulfillment, what other job allows you to help people, every single day? Whether it's teaching them self-defense so they can protect themselves, helping them get in better shape so they feel better and live longer, or building a student's confidence and self-esteem...
...the fact is, it's a pretty cool job.
And from a business perspective, it's a damned good business to be in. For one, the barrier to entry is extremely low. Heck, I've opened martial art schools with no students in a brand-new location with just a few thousand dollars of starting capital.
Try doing that in another industry, like the food service industry or the fitness industry. It ain't gonna happen. In most cases you need a minimum of $50,000 to $100,000 in liquid starting capital just to be considered for buying a restaurant or fitness center franchise.
And then, all your profit is tied up in loan and lease payments, franchise fees, and payroll, because those business models often require a lot of staff to run... not to mention the equipment it takes to start a restaurant or fitness center doesn't come cheap.
Plus you have the build out costs. Those can be astronomical, especially if you're starting a franchise. But with a martial art school, you don't have all that.
For one, you can start a school with one employee, namely, yourself. Second, for the most part all you need are four walls, some mats, a few focus mitts and kicking shields (if you teach striking arts), a bathroom, and a front desk. That's it.
And if you set your dojo up right, the profit margins are unusually high for a commercial storefront business. Much better than the food service industry or fitness center industry, I can tell you that.
But It's Not All Unicorns And Cotton Candy
But if running a martial art school is so great, then why do I say it's not all fun and games?
Because running a martial art school is a business, and going into business for yourself is HARD. Even when the business model is a winner, there are still a million and one ways you can screw it up.
Tomorrow, I'm going to go into some of the cons of starting a martial art school, and I'll share some of the things that the industry wonks don't tell you about the dark side of running a dojo.
Until next time,
Mike Massie
MartialArtsBusinessDaily.com
Quick-start Guide to My Books and Resources:
- Looking for a list of books and resources I've written?
Click here! -
Looking for low-cost business coaching to grow your dojo? Click here…P.S. - I often tell people this is a very simple business. So if it's not rocket science, then why do so many school owners struggle to make a buck? I'll tell you why in tomorrow's email, so stay tuned...
