For many people opening a martial art school is a lifelong dream, especially for those who bring an extensive knowledge in martial arts and are dedicated martial artists.
Without a doubt, having your own martial art school has its pros:
- You don’t have to obey to anyone’s orders
- You can express your own feeling and vision of martial arts
- You can also organize your martial art courses the way you think is more appropriate to your business growth
Financial Costs For A Self-Owned Martial Art School
However, all these pros come along with as many cons, such as costs. If you are the only owner, you won’t have anyone else to share the costs for the martial school. You will have to seriously save much money in advance, so whenever you will apply for a business bank loan, you will need a lower amount of money (so, lower debt on your finances).
The most common and expensive costs that you will have to face as a new martial art school owner are:
- Rent: normally, most people don’t own the place where they set up their business, so they have to rent a building or a part of it. Keep in mind that longer term leases feature more leeway
- Insurance: you have to buy an insurance policy for your martial art school. The insurance will provide financial support to anyone who might hurt during exercises. Consider that there are dedicated insurance packages to martial art schools
- Equipment: obviously your school has to be equipped with all necessary items and gym furniture. Make a list of basic equipment that you need to see how much money you have to pay for it
- Marketing: a new business in town needs visibility. Marketing campaigns on the spot or in the internet assure many more customers, especially if you address your ads campaign to a selected arena of potential customers
- Permits: in order to start to work in your martial art school, you need all permits and a professional license. Costs for these regulatory certifications vary a lot depending on where you are based