Here's a question I hear a lot.
How do I make more money in my martial arts academy?
Number one, raise your prices. If you haven't, you should do it for the new year, but make sure that you do it correctly. Make sure that you research the market prices and make sure to give yourself a raise, so you're not undercharging students.
Number two, upsell at the time of sale. People who join your academy are likely looking for a long-term investment, so offering packages or add-ons can help you make more money. Offer discounts and incentives when they sign up to encourage them to buy the full package, or offer additional classes or equipment that may be beneficial to their training.
Number three, get students to purchase more often. This can include things like workshop, seminars, seasonal year, pre-order sales, and more. Look at new ways to monetize your academy. Maybe you can create private lessons or offer specialized classes for an additional fee. You can also bring in guest instructors to teach seminars and charge people for them.
Number four, cut costs. Stop spending money on stupid stuff. This means being mindful of the purchases you make and keeping an eye on your budget. Try to save money where you can and be as efficient as possible with resources.
By taking these steps, you'll be able to increase your revenues in no time! With a little bit of hard work and creative thinking, you can make more money in your martial arts academy!
