In this article, we will discuss how you can start a Dance Academy. Beyond being a hobby, dancing has become a profession and a lifestyle. It also has endless benefits for the body and mind, as it helps to strengthen the heart and the muscles.
In addition, it is ideal for the development of social, motor, and musical skills. For this reason, many entrepreneurs wonder about how to set up a dance academy with which they can respond to the demand of those interested in practicing this activity. Even more so if they have experience and are passionate about dance.
That is why in this article we will share a basic guide to opening a dance school. In addition, we will include a series of elementary steps for the management and implementation of this undertaking. Let’s see what this is about!
Steps to Start a Dance Academy
To answer this question it is necessary to take into account all the elements that influence the construction of a business. Among them are, planning, location, legal procedures, and promotion strategies, among others. Therefore, below, we will talk in detail about each of them.
So take note of these 7 steps on how to set up a dance academy:
1. Dance Classes
Initially, the type of classes to be offered should be defined taking into account the diversity of existing rhythms and dances. Likewise, it is necessary to establish the target audience and the rates of the services. For this, it is crucial to have a market study that allows you to analyze these variables. On the other hand, the most popular and demanded types of dance in the academies are:
- Classical dance or ballet
- Hip hop, reggaeton, dancehall, break dance
- Salsa, meringue, bachata, champeta
- Tango, bolero, waltz, pasodoble
- Pole dance
- Arabic dance
Regarding the rates of the classes, it is recommended that you manage a pricing strategy within the range of your competitors. Taking into account the characteristics of the target audience (socioeconomic level, age, purchasing power, etc.), to transmit a balance between cost and benefit.
In this sense, you can choose to offer individual or hourly classes, as well as weekly classes or monthly class packages. Additionally, you can handle costs with or without registration fees.
Here, it is also necessary to determine the customer segment of the business. This will make it possible to plan specific content for each type of dance and divide consumers into groups. And this can be done as follows:
- Children from 5 to 11 years
- Adolescents and young people from 12 to 20 years old
- Adults 21 to 60 years
- Older adults
2. Business Plan
After having specified the business idea and its specific characteristics, the next step in how to set up a dance academy is to plan. To capture and establish a route for the management and start-up of the enterprise. This is using a business plan in which the objectives and the actions to be followed to achieve them are stated.
This plan may change as it develops. However, developing it from the beginning of the process is vital to study the market, contribute to efficient operational management and analyze the viability of the business. Therefore, you must include the following:
- Market study: It is carried out to analyze the environment and identify the situation and market dynamics. This includes getting to know your competition and your target audience more thoroughly.
- Strategic approach: Here the mission, vision, and objectives of the new business are designed. In addition, strategies are formulated according to an internal and external evaluation of all factors related to entrepreneurship. To do this, you can implement a SWOT or PESTEL matrix.
- Goals: It establishes the fulfillment of goals and realistic objectives in a certain period. For example, at the end of the first year of operation, have x number of people of all ages enrolled in the academy.
- Marketing: Create a marketing plan that includes promotional strategies and techniques. It will help you to answer questions such as What will you do to gain recognition in the market? What will be the distribution channels? How will you establish communication with the public?
- Financial projection: Here the initial investment is contemplated and the projections of cash flow, losses, and profits are made.
3. Location and Premises
Within the process of how to set up a dance academy, special attention must be paid to the selection of the venue. Well, the location is a key factor in the success of the business and can become a point for or against. So be sure to choose a high-traffic, high-flow location that’s strategic for customers. That is to say, easily accessible by all types of transport, close to parking lots, shops, banks, and other services.
Regarding the premises, it is recommended that it have an approximate area between 100 m2 and 150 m2. To have enough space to distribute the different areas of the academy. Which include the reception, the bathrooms, the locker area, and at least two rooms to teach the classes. Also, the space should have tile, wood, or porcelain floors, as well as large windows that allow in natural light.
4. Supplies and Materials
After selecting the place, adapting the space, and delimiting the areas, it is time to decorate the dance academy. In this step, you must include the furniture and the equipment and supplies necessary to teach the classes, which include:
- Desk, chairs, and furniture
- Office items
- Computer, telephone, printer, and dataphone
- Sound equipment and television
- Lighting and air conditioning
- Clothing and special shoes (If necessary for a special rhythm)
If you are thinking about how to set up a dance academy, you must be clear that the work team is a fundamental piece of it. Well, first of all, you will have to cover the charges related to administration and finances, which can be exercised by you in the company of an accountant. Second, it will be necessary to hire a person for the reception, who provides the information and manages the database of registered students.
Last but not least is the teaching team. Ideally, they should be professionals in dance or performing arts. As well as dancers with experience and specialization in different rhythms.
6. Marketing Plan
Another fundamental step in how to set up a dance academy is to implement a marketing plan to promote the business. Let’s not forget that this is prepared at the beginning of the process as part of the previous planning.
Therefore, it must be based on the results of the market study and the characteristics and preferences of the audience. There, the marketing and sales objectives are established, as well as the distribution and dissemination channels in which the different strategies will be carried out.
Such strategies can include offline marketing techniques such as print advertising, direct marketing, event sponsorship, loyalty campaigns, and more. As well as digital marketing techniques such as SEO positioning, content marketing, email marketing, and social media marketing, among others. In addition, these must be executed before, during, and after the opening of the dance academy.
To measure its effectiveness and adjust the plan based on the results obtained. Likewise, to publicize the business, enter the market, and begin to interact with the target audience.
7. Legal Constitution of The Business
Wondering about how to set up a dance academy also implies considering the legal aspects related to the formal constitution of the business.
For this reason, you must seek advice on the procedures in the organizations and institutions in charge of regulating the business sector in your country. The above, because each territory has different regulations and the requirements may vary according to the legislation.
However, within the general procedures in the process are the following:
- Choose a legal structure, which can be a natural person or a legal person. In this case, it is recommended to register as a Limited Company, as this structure provides facilities to entrepreneurs
- Select a name for the business, verify its availability, and make the corresponding registration
- Prepare the statutes and/or articles of incorporation specifying the name of the business, domicile, name, and identification of the partners and the capital contributed.
- Define the economic activity and register the business in the Mercantile Registry.
- Obtain the business tax identification number.
- Apply for land use permits and operating and opening licenses.
How Much Does It Cost to Open a Dance Academy?
Establishing the cost to open a dance academy depends on several factors, including size, business model, and services. Therefore, it is necessary to prepare a financial projection that includes all the necessary resources for the implementation of the academy. This is based on a previous investigation of the environment and opportunities offered by the business.
These resources include, in the first place, all the expenses related to the opening. That is provision and adaptation of the premises, legal procedures, studies and promotion strategies. Second, the investment must project administration and payroll expenses once the academy is open. Which refer to rent, services, salaries, social security, aid, insurance, maintenance, etc.
With all this, the initial investment is estimated to be between $15,000 and $40,000.
Final words on Dance Academy
We have reached the end of this guide on how to set up a dance academy, but not before confirming the importance of planning and studying internal and external factors.
Since the success or failure of your business will depend on how well you know the market and the target audience. Such knowledge will greatly contribute to smarter management and to think of more effective strategies for the business.