You might be taking the leap from a hobby studio in the church hall into opening your own premises, or perhaps you are scaling up from your current location. No matter what the reason may be, deciding on a venue and signing your lease is a HUGE milestone that should be celebrated!
In order to get you celebrating rather than agonizing, today’s podcast will look in detail at the studio-specific terms of your new lease and ensure you ask all the right questions when it comes to finalising the paperwork and get the best possible outcome for you and your business.
In This Podcast
The #1 rule you need at the forefront of your mind before deciding on your new venue, is that you must NOT settle for the first building you look at. You may feel under time pressures, you may love the building even though it’s out of your price range (but you’ll get new enrollments, right? Another 50 students will cover that cost . . .) or you may be so desperate for a bigger space that you’ll settle on anything, so long as it’s bigger.
We want you to avoid these huge pitfalls, so in today’s podcast you’ll learn:
- Which numbers you need to crunch and project before you even pick up the phone to the realtor
- The type and terms of your lease – is it fixed or variable? More importantly, can you change this?
- The costs you need to consider when it comes to fitting out your venue with flooring, barres, walls and mirrors
- Which costs will be covered by you, and which will be covered by your landlord (eg, maintenance, repairs, utilities)
- Your termination and exit clauses, including the #1 clause you MUST include but most studio owners miss
And loads more!
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Thanks for listening to today’s podcast – we’d love to hear your feedback so please check out our Facebook page where you can leave your reviews and ask any questions about today’s episode.
Don’t forget to share this podcast with your Dance Studio Owner friends and colleagues!
The Dance Studio Owners Association is for Studio Owners who are ready to commit to building their dream studio through taking consistent action while accepting guidance and advice. It’s for new Studio Owners and experienced Studio Owners. No matter what stage you’re at in your business, you’ll gain valuable information to take your studio to new levels while becoming a go to studio in your area.
DSOA members also have exclusive access to some of the greatest minds in business through our expert masterclasses, one-on-one mentoring through our member makeover experience, and a monthly Q&A session that directly answers all your pressing questions about being a Studio Owner.
Our association is a community. It’s a community of Dance Studio Owners who have seen what Clint has not only produced with his own studio, but his Studio Owner clients and program members over 6 years. They’ve seen the results and they want to be a part of the action!
See you next week for another value-packed episode!
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