What is one new student worth to your business?

I must admit, it always surprises me that rarely do I meet people who actually know the answer to this crucial question.

Let's work it out together at the most basic level: one student doing one weekly class for the year for 40 weeks is a nice easy place to start. Let’s say you classes are $12 per week, across 40 weeks of the year.

One student, doing one class per week is going to bring in $480.00 each year.

Now let’s imagine this once-per-week dancer joins your studio at the age of 3, and graduates when they are 18. That once-per-week dancer has a lifetime value of $7,200. And guess what we haven't included? All the other products and services your dancers buy.

- Additional classes.
- Costumes.
- Merchandise.
- Recital tickets.
- Camps.
- Birthday parties.
- Private lessons.

With all of these inclusions, the average lifetime value of your once-per-week student is between $20,000 to $30,000.

Now, would you agree that this is an important number to know? Having this number at the forefront of your mind will drive you to do better, more intentional marketing. As the CEO of your studio, you need long-term thinking, not short-term.

You need to be making decisions for your next three years, and that's why your marketing strategy is so important.

In this video training, I walk you through the formula to work out your own student lifetime value, and share with you the #1 strategy that most studio owners are missing out on that will bring dancers through your doors 365 days of the year.

Once you’ve watched the video, make sure to download our free 11 Step Enrollment Checklist - dsoa.com/checklist

This free checklist reveals the 11 essential steps you can take RIGHT NOW to dramatically increase your new student enrollment.

Inside You'll Learn:

- The critical first step after receiving an inquiry that will get the student and parent excited to try out your studio.

- Exactly when and how often to follow-up with new parents to make sure they feel connected to your studio and eager to enroll.

- My "secret sauce" to mixing emails, text messages, and phone calls just right so that students and parents will feel connected with you from the first inquiry.

Click here to download your free copy today! dsoa.com/checklist

Welcome to the final episode of Plies to Profits, with Hillary Parnell!

In the eighth episode of this series, Hillary reflects on the most powerful ideas, experiences and strategies shared during our 8 weeks together, and picks out all of the golden nuggets that will help you build your studio empire in 2020!

We hope you enjoy this episode -we can't wait to have Hillary back in the hosting seat soon!

Welcome to a brand new 6-part series of Transform My Dance Studio, where Clint is taking a seat on the interviewee couch, and guest host Lauren Ritchie from 'The Dance Podcast' is asking the questions!

In this episode Clint and Lauren discuss what it means to age when you are a dance studio owner, and practical strategies to ensure that the longevity of your dance studio isn't dependant on you wearing all of the 'hats' in the business. We chat about how and when to transition out of your teaching hours, and the best support structure to have in place that will give you more hours to work on the things that will grow the business, rather than getting bogged down in the day-to-day.

Enjoy!

In this week's episode, Hillary shares why it is so important to make sure you are paying yourself a competitive wage first and foremost. She shares some guidelines about what industry standards are, and what you may be risking by undervaluing your time as well as your team's.

This week we have that brilliant 'butterflies-in-the-stomach' feeling that comes when you have those new, big and bold ideas that you'd love to execute in the studio! Hillary will be exploring the revenue streams that light you up, like bringing photography in house, adding an after school care program, going into preschools or public schools, or creating your own preschool. Discover when to know whether it's a good time to take on a huge new project, and how to go about taking those first steps.

In this value-packed episode, Hillary unpacks the 'not-so-small stuff', like how to increase profits from your competition teams and recital, and making sure you're not losing money on unlimited pricing. This week we are really digging down into the numbers to make sure the things you are already doing aren't hurting your bottom line... and how to fix it if they are.

When you have your big-picture plans in place, Hillary is going to be your new BFF when it comes to adding successful revenue streams into your studio one at a time. In this episode Hillary breaks down her winning formula for Daddy daughter dance, opening number/finales, parades, costumes, studio rentals, birthday parties, merchandise and more!

Join Clint this week as he walks you through how to start planning for the new year. Now is the perfect time to get clarity around what you want 2020 to look like for you and your business. If you're wanting to take your studio to the next level then check out this episode.

Download our FREE 2020 Studio Growth Planner at dsoa.com/planner.

Have you ever wondered why it is that retention in competition teams so high? It's simple - because they feel like part of a group, a community, and the kids and the parents have real friends within the group. So what would happen if EVERY student was part of a group and felt tied to the studio more than just a 30 minute a week dance class? When you're battling against every other after-school activity, you need to "mean" more to the family than soccer does. Lock-ins, movie nights, PNOs, and events are just some of the examples shared in this week's episode to help you to build a sense of community.

Less but Better first is this week's motto! Get really good at what you're already doing, increase your customer experience and create ride or die students using these practical strategies.