Starting a Martial Arts School with No Money – Sample Business Plan Template
1. Conduct Your Feasibility Studies
It is advisable never to commit money into any business idea until you have done your own feasibility studies. So, what is expected of you to do before going ahead to register your martial art school or resign from your paid employment is to carry out feasibility studies in this line of business? With the report you generate from your feasibility studies, you are able to make informed decision on how you will run your martial arts schools and also you will have a view of the profits you are likely to make and the challenges as well.2. Register Your Martial Arts School
The next thing you are expected to do is to register your martial arts school with the required authority in your country. The registration process is not as difficult as it used to be, so you have to go all the way to get it registered. In some countries, you would need some form of license from the local authority and even from the body regulating martial arts in your country before you can be permitted to operate your own private martial arts school.3. Generate Enough Capital
Starting any form of business requires capital. As an entrepreneur, you would need money to rent a facility, to equip the facility, to pay instructors, pay yourself, pay your bills and take care of your family. The fact that you would be leaving your paid employment makes it very important to save enough money because you are likely not to generate enough money from the school until after about 2 years or so.Most of the monies you would generate within the first 2 years would be used to service loans and run the martial arts school while you wait for it to grow to profitability. So you are expected to plan ahead and raise enough capital.
4. Choose a Suitable Location to Rent a Facility
The location you choose to situate your martial arts school determines the numbers of students you attract to your school. It is important you locate your martial arts school in the midst of residential buildings. This is necessary because people find it difficult attending martial arts school that is far from where they live – a walking distance is always preferable. It is also good not to locate your martial arts school close to another martial arts school.5. Hire Professional Martial Arts Instructors-:
No doubt you may not be able to run your martial arts school alone. You would need at least one accountant who can also double as administrator, and at least 2 other martial arts instructors to work with you.6. Make Your School Interesting
There are loads of things you can do to attract students to your martial arts school. The truth is that if you make your martial arts school interesting, you would not only get students to register in your school, but you would also keep them coming and never miss a class. Part of what you need to do to make your martial arts school interesting is to organize competitions for your students, create good ambience for people to learn martial arts, and also take your students out once in a while to compete with other martial arts student in your community or State.7. Market and Advertise Your Martial Arts School
The success of your martial arts school would be majorly dependent on how you can convince people to enroll in your school. The truth is that, if you can’t convince enough people to enroll in your school, you won’t be able to pay your bills and you will likely go out of business. So, you must comb the whole of your neighborhood marketing your martial arts school to parents, and also you can visit schools in your community to market your martial arts school.You can create business relationship with school management for them to encourage their students to enroll in your business school. If you have enough money, it is advisable to hire professional marketer to help you market your martial arts school.
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