What is The Cost Involved in Starting a Dance School?
Dance is not just seen as a medium to keep you physically active or fit but also to earn pretty well out of it. How? Well, simply by opening up a dance school. If you’re one of those who loves dancing but couldn’t pursue your career in the same then here’s going ahead with toddlers dance classes in your area can be a great business option waiting for you.
Undoubtedly, this will require an adequate amount of finance and legwork but everything can be done once you’ve made your mind clear about it.
So, let’s not waste any more time and analyze how much it costs you to open your own dance school.
- Property and administrative cost – Just like any other commercial building; your dance school should be legally registered with the government. And to make it possible, you need to accomplish the documentation procedure in the right manner. The government documentation and verification procedure may cost you around $500-$600. With this amount, you can get a license from the governing authority. Apart from this, you must have an insurance of your property which varies according to the country or city. Buying a store or building may cost you around $45000-$55000. Again the cost of property varies on the basis of lease and property purchase.
- Dance equipment & interiors – Mirrors, dance props, chairs, steady mats and much more is required to set up a dance school. For this, you may require sparing around $30000-$35000. This budget is an approximate figure which has been analyzed according to a small or medium scale dance school. It is always recommended to minimize your expenses at the initial stage so that you’ve enough with you in your rainy days.
- Manpower cost – Of course, you solely cannot run your dance school. For running it easily, you need a couple of dance instructors, a manager, and an accountant. And the cost of your manpower completely relies on the number of employees you wish to have in your dance school. Still, you can keep $60000 for the salaries and other dance school maintenance funds. Here, you may compromise with the number of instructors but really can’t do the same with the accountant as you need a skilled accountant to analyze better cash flow of your dance school. Hiring an accountant can help you get a better sense of handling your finance.
- Marketing cost – Last but not the least, your dance school marketing. Though this activity comes at the last, somehow it is quite beneficial and gets you a lot of business through online mediums. Apart from marketing, get a logo & web design for your dance school website which can add a lot of value to your online presence.
The bottom line-
The criteria for establishing your dance school may acquire you a lot of money but you can easily cut your cost on different aspects by taking some smart ideas. If you’re not that capable of opening up a dance school at a large scale then prefer to keep a hawk eye on your expenses & try to minimize them as much as you can.