by John Graden,
published:
syndicated: 0 | total views: 314 |
word count: 394
laesbarhedsindex readability score: Average Readability
on the net: www.johngraden.com
UNITED STATES, Dec 06 — A school is a membership-based business model. The majority of a martial arts school’s revenue comes from students’ tuition, which is normally paid monthly. A school that attracts and keeps students grows this monthly income. You are a highly trained, specialized, teacher
A
school is a membership-based business model. The majority of a martial arts school’s revenue comes from students’ tuition, which is normally paid monthly. A school that attracts and keeps students grows this monthly income. You will have other profit centers and revenue streams such as retail sales, special events, and testing, but tuition is the financial foundation of any school. Your school’s financial stability will at first be dependent on growing this monthly tuition revenue. This is called building your base, and it is important.
Let’s look at some of the issues and processes involved. Contract vs. Month-to-Month Tuition This is an age-old argument, and the answer has changed somewhat with technology. First, a word about unpaid tuition… Under no circumstances do I suggest you ever sue a student over unpaid tuition.
If you have a student on an agreement, and she quits after six months, don’t begin a hard collections process. Rarely will you collect much money for the stress and effort. Nearly 100 percent of the time, however, you will have someone in the community telling other people what a louse you are. That said, the argument for using an agreement for new students holds up better than for using a month-to-month program. Here’s why. Students who sign an agreement (we never say contract, do we?) are entering your program more committed than students who know they can quit at any time.
Even if they do drop out, they tend to stay on longer to try and make good on their agreement. This is especially true if you have done a good job of qualifying the prospect and helping him understand the importance of the commitment. One of the core dynamics of the Martial Arts Professional is to value what you do. Using an agreement reflects this. It shows that you have a process for bringing students into the school. Like a private school, your agreement process allows only people on your floor who are mentally (and legally) committing to training with you for a year. You are a highly trained, specialized, teacher. Here is the value perspective from the instructor’s standpoint: It is a waste of your time and energy to pour your heart into a student who is only going to drop out after a few months when football season starts.
Communicate directly with John Graden, the author of this article. Ask questions, send suggestions, comments, engage in conversation, or perhaps you would like to submit a project.
Click Here to ask a question, send a comment, or proposal.
If you own a car/bike you must be familiar with rubber mounts . Even if you do not, then chances are that you have at least heard of the word somewhere or the other, as these add-ons are used in a variety of equipment and machines we
What guarantees the success of a promotional campaign? Does it take promotional products that cost the earth to win over existing clients, prospective customers, and employees? Is it worth siphoning your precious marketing dollars into a promotional
Needing services for a move to Cambridge requires some attention. Relocation can be very stressful, so these tips offer a look at how to handle deciding on Cambridge movers and Cambridge storage facilities. When choosing how to move and store your li
The legendary American soul singer Etta James, who would have turned 74 on January 25, passed away 5 days before her birthday because of leukaemia complications. A public viewing is set on January 27, Friday, at the Inglewood Cemetery in California,
Business proposal helps you to develop the professional relationship with the potential investors, corporate partners, or suppliers. Thus, you must handle the responsibility of proposal writing sensibly and skillfully. It is possible that your busine
Business correspondence is being defined as a way of communication through the exchange of letters. These are the letters written or received by two or more parties which may come in the form of letters, emails, text messages, voicemails, notes or po
This article looks at how to go about creating a business plan that has direction and can lead to success. It lists the eight simple steps for creating a plan. These include a business name, a vision, a mission statement, objectives and goals, SWOT,
Have you ever recommended an item to a family member or friend simply because you were thoroughly satisfied and want them to try it, too? Did the company ever pay you for that recommendation? Nobody would think so. What if you can start making money
Logbook in simple terms means a vehicle registration certificate issued by Driving and Vehicle Licensing Agency (DVLA) in the UK. I hope you are aware of the fact that registration document V5 popularly known as logbook has become invalid from July 2
A startup business requires careful planning. If you are thinking to start a business the very first step, which you have to accomplish is to develop a business plan that will lead your business towards success. A business plan requires careful and a
When I opened my school, I presented the exact curriculum that I was raised on. Among the many problems that created for me was that I had a lot more kids in my school than my instructors did. Martial arts forms, hyungs, or kata were designed b
In the 1980s, Educational Funding Company (EFC) was the first to have success creating systems to support an agreement-based school. Our industry owes a debt of gratitude to Nick Cokinos and his ability to teach, motivate, and inspire some of the mos
I had lunch recently with a fourth dan in Uechi Ryu. We talked about how the Eastern mind-set is so different from the Western, and the confusion that creates for many instructors. Culturally, the East is more about conformity, or as I call it, cloni
If you can keep a steady flow of new students coming in, an ideal situation is high cash outs and high monthly billing. This is being accomplished by some schools that take a somewhat unconventional approach to their cash out and upgrade strategies.
Larry Dokes’s EasyPay billing company pioneered the electronic funds transfer (EFT) in the early 1990s. Larry was an early mentor of mine and has helped me a great deal. Based in Belton, Texas, EasyPay specializes in smaller schools in smaller
Syndication
tweet
PDF version
Printable version
Publisher HTML version
Discussions (0)
Email Article
Post New Comment