M
Mark Jorgensen
Guest
Thanks- that's a lot of good advice....
The location is about 5 minutes north of one of the most affluent and fastest growing communities in suburban Pittsburgh It's not unusual to see 500,000- million dollar homes and even higher in the area, and new middle-class level developments are constantly going up.
The location isn't what I'd call prime, but there is a ton of traffic by it every day that would see the sign. I think my current 35 students has more to do with lack of space and promotion right now than anything else. In the small room I have now, I can't fit many more students than I have now. If I open up the main floor, I could easily reach 200 students or more, and I expect to reach 100 fairly quickly with the right promotion. I also believe the YMCA program will escalate to at least 50-60 students in a short time.
Mats and furniture for office and viewing space would be my biggest initial cost, I already have most of the equipment I need. After that would be signage, paint, and advertising.
I'm also considering renting one of the adjunct rooms out to a yoga or tai chi instructor, something to appeal to a "lower impact" crowd...
As far as competition- There is an ATA studio and a Tae Kwon Do studio in the area doing most of the business, each charges over $100/month and is successful. I have talked to students of both schools, and what I have to offer is more traditional and less sport oriented in both cases (not bashing TKD, just saying that those 2 schools are more competition oriented, and I'm not).
The only potential obstacle is my wife...she doesn't liek doing anything she considers a risk...so she's my conscience, so to speak. The fact that she hasn't outright said no is a good sign, though.
Looks like it's time to do a lot of research and number crunching.
Thanks again for the advice.
The location is about 5 minutes north of one of the most affluent and fastest growing communities in suburban Pittsburgh It's not unusual to see 500,000- million dollar homes and even higher in the area, and new middle-class level developments are constantly going up.
The location isn't what I'd call prime, but there is a ton of traffic by it every day that would see the sign. I think my current 35 students has more to do with lack of space and promotion right now than anything else. In the small room I have now, I can't fit many more students than I have now. If I open up the main floor, I could easily reach 200 students or more, and I expect to reach 100 fairly quickly with the right promotion. I also believe the YMCA program will escalate to at least 50-60 students in a short time.
Mats and furniture for office and viewing space would be my biggest initial cost, I already have most of the equipment I need. After that would be signage, paint, and advertising.
I'm also considering renting one of the adjunct rooms out to a yoga or tai chi instructor, something to appeal to a "lower impact" crowd...
As far as competition- There is an ATA studio and a Tae Kwon Do studio in the area doing most of the business, each charges over $100/month and is successful. I have talked to students of both schools, and what I have to offer is more traditional and less sport oriented in both cases (not bashing TKD, just saying that those 2 schools are more competition oriented, and I'm not).
The only potential obstacle is my wife...she doesn't liek doing anything she considers a risk...so she's my conscience, so to speak. The fact that she hasn't outright said no is a good sign, though.
Looks like it's time to do a lot of research and number crunching.
Thanks again for the advice.