At the end of 2024, as we approach the New Year swiftly, we have some tips to help you finish the year on a positive note!
Read More
The end of the year provides you with a unique opportunity in your business. You have the complete picture, which means you have all the data that you need to set achievable goals for the new year. This is the perfect time to measure KPIs (Key Performance Indicators) and decide which will be most beneficial for you to continue tracking. Here are several KPIs that are great, year-end benchmarks to provide you with accurate data on how your business performed over the course of the year:
Read More
As 2024 draws to a close, it's wise to begin preparing for your peak season. This is the perfect time to evaluate the successes and challenges of the past year and use those insights to fine-tune your strategies.
Read More
Your time, studio operations, studio finances, and even business survival can be affected by whether or not you hire employees or independent contractors. Thankfully, you can choose confidently between the two! We’ve provided some helpful information to guide you in knowing what’s best for your studio.
Read More
Fourth Quarter (Q4) is the period when businesses review their financial performance from previous months, make changes, and establish new goals for the upcoming year. A concise yet comprehensive financial checklist can assist small businesses in ensuring they address crucial financial indicators and take steps towards a better financial well-being.
Read More
So, you’ve grown your studio to the point where you need to hire…congratulations! Not only is this a major milestone but a great employee will lighten your load and boost the success of your studio. But here's the thing...
Read More
Knowing how to interpret key financial metrics such as revenue, expenses, cash flow, and profit margins can help you assess the effectiveness of your business strategies and pinpoint areas that may need improvement. With a solid understanding of your financial reports, you can confidently steer your business towards success and achieve your goals.
Read More
When seeking professional financial or bookkeeping guidance, you might encounter terms like "financial consultant" or "financial advisor." While these titles may seem to indicate the same profession, it's important to note that financial consultants and advisors serve different roles.
Read More
Together, CPA’s and Bookkeepers form a dynamic team that plays a critical role in ensuring the financial well-being and success of a business. Their collaboration and expertise are essential in driving growth, managing risks, and maximizing financial performance. When handling your studios finances, it's crucial to consider the expertise and specialization of professionals you engage with.
Read More
When it comes to Key Performance Indicators (KPIs), there are three main categories that serve as the foundation for measuring success and progress. Understanding these three main categories of KPIs and how they interconnect is vital for making informed decisions and driving success in any organization.
Read More
A financial KPI, or Key Performance Indicator, is a quantifiable metric used to evaluate the performance of a company's financial health and overall business objectives. It helps in measuring and tracking specific financial goals, providing insight into areas such as revenue growth, profitability, liquidity, and efficiency.
Read More
What do you need to know about sales tax as a dance studio owner?
First and foremost, you should have a clear understanding of what sales tax is. It is a form of consumption tax imposed by the government on goods and services sold. It’s usually calculated as a percentage of the selling price. This tax is collected by the seller, (you) then remitted to the government.
Read More
Budgeting to pay yourself is a primary function of a financially healthy business. I’ve been there, I know that the desire to see your business succeed, especially when you’re just starting out or experiencing a major transition. The problem is that thinking is unsustainable.
Read More
“If we’re overwhelmed by our anxiety, that’s where it may lead us to avoid thinking about finances or trying to avoid thinking about taxes,” says psychologist, Dr. Tanya Farber.
Read More
Key Performance Indicators are metrics that help SOs determine if what they’re doing is working. Want to know if your dance room is making money, or what your revenue per student is? Use your numbers to idenitfy the KPIs that will directly affect your decision making.
Read More
As a studio owner, you want interested students to access and take full advantage of the competition experience. The trouble comes when comp fees and add-ons become a roadblock to that access. With costs on the rise, how do you ensure families can continue to afford attendance?
Every studio owner wants their business to thrive, but they don’t always know how to make it happen. Assuming you’ve hired great teachers and offer a great service, where should you focus your energies to bring your business to the next level?
Read More
Developing skills, welcoming feedback, learning from failure, are tenants to growth. If you find yourself struggling to accept change, shutting down at the thought of having to learn a new method or approach to a task, you may need to challenge your ‘fixed’ mindset to effectively pursue new levels of success in your personal and business life.
Read More
Whatever stage of the business you’re in, these 10 strategies will equip you to run your BEST business.
Read More