1. Martial Arts can be a hobby or an incredible career. If your passion is to help people live more fulfilled lives, be healthier and safer then a career as a martial arts school owner can fill this calling.
2. Some school owners think short-term. Build something cool around yourself and in a few years move on to something new. Others plan on building a legacy that will be a career. Something they can pass on to their instructors or children.
3. I have been involved in martial arts business for 42 years. During that time all kinds of things were popular in the industry. When the series Kung Fu was on TV every school taught Kung Fu. When Tae Bo was on infomercials 24 hours a day all schools taught a unique variation. Go back to number 2. What is your goal? Is it to ride the latest trends or establish an institution? I am not saying what is best; I am just stressing the importance of knowing what your business is going to look like when it’s done before you start.
4. There are two ways you will spend your time in your martial arts business. First there is the job. The job is what you are passionate about and that’s teaching your art. Then there is the business. The business is marketing, presenting, enrolling students, the finances, retention, career training of your team and developing your financial freedom. The way you excel in the business will determine if you own a business or you created yourself a job for yourself. The difference is if your freedom of time. It’s a blast working hard the first year or two. But then you realize the sacrifice of time away from family and free time is a big price to pay. You must master the business like you mastered the art.
5. Learn how to market using local events and team up with other businesses. You will want to enroll 30 new students in the first few weeks to get your foundation started.
BONUS - Seek expert advise. Your uncle that used to have a busineess may not be the one you seek council concerning the martial arts industry. Let me give an example. If you are looking at a 2400 sq foot facility with a 1200 sq foot floor and teach 5 classes a day you will max out at 300 students. Kids take 30 sq ft per child when lined up finger tip to finger tip. 40 kids can fit on the mat. However only 30 adults. What will you gross in that space? It’s not 300 students times your monthly lesson fee. It’s 300 times the student value depending on your knowledge of the income generators. But it’s not rocket science. Many, many school owners are grossing $500,000 or more a year following tried and true systems.