Do you want to start a martial arts school from scratch? Or you need a sample martial arts school business plan template? If YES, then i advice you read on.
If you are a professional and a warrior in martial arts, then you can generate huge profits from your passion by simply establishing a martial arts school to teach people on martial arts. In recent time, it has become highly necessary for children and young adults to learn martial arts not just for the fun of it, but for the fact that one is able to participate in sport competition, as well as a skill needed for self defense.
With the growing rate of all sorts of crimes like kidnapping, rape, and so on in our society, it has become needful for the skill of martial arts to be learnt from an early age.
It is important to state at this juncture that starting martial art skills requires someone who has practiced the art for at least 10 years, someone who understands the industry, hardworking, posses’ business skills and someone who has enough money saved up.
If you leave in countries like the United States, Canada, United Kingdom, Japan and China, you would realize that there are loads of martial arts schools all around the neighborhood. This is to indicate that it is indeed a profitable business if properly planned and managed.
As a matter of fact, parents look for standard martial schools to enroll their children so that they can be well trained to defend themselves when the need arises. Women also go out of their ways to enroll themselves in martial art class, so that they will be well equipped to defend themselves as well.
No doubt martial arts school is a profitable venture and the following steps can help you start your own martial arts school from the very scratch and build it to profitability within record time;
Starting a Martial Arts School With No Money – Sample Business Plan Template
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 can then prepare a business plan for your martial arts school. This will enable you 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.
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.
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.
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.
Over and above, it is challenging starting and running a martial art school, but if you are patient and hard working, you would definitely make huge returns on your investment.