By Al Lipper
Most months I talk in depth about specific strategies that help studios improve business. This month, we'll focus on the 10,000 foot view of how some of these pieces fit together. I’m going to share the story of how one studio owner put a handful of techniques together to significantly improve his studio’s attendance and income.
Often studio owners approach me asking for guidance on improving their studio.
“Al, I need more business – there just aren’t enough students coming in,” they say. Often followed by “I’m working my butt off and still it’s not enough.” Some people say these things with an expression of concern for the future, and others – you can hear it in their voice – have a deep fear about what might happen. What they haven’t yet put into words is usually something like “I don’t know if I can pay my bills this month, and I’m afraid I am going to have to close down my studio.” Or other times, it is “I’m working so hard just to keep things barely afloat – I can’t do this much longer.”
Whatever the case, there is a solution.
Roger contacted me for business coaching because of concerns with the marginal income of his studio. After several weeks, he began the implementation of a variety of concrete improvements in his studio. Here’s what he did…
1. He provides all new potential students with a “Welcome Packet.” The packet is a nice-looking folder which includes a color brochure about the studio, how yoga can help people in their lives, an intro article with pictures of smiling people doing easy asanas, and a CD of yoga music with his studio’s name and contact info printed on it. In addition, it contains a coupon for a new-member special promotion (a $50 six-session intro series or 40% off any other class-card or program with auto-renew) and a welcome letter personally signed by Roger.
He explains that this has increased his new student sign-up rate by almost 20%. It makes people want to come back, and it supplements his front desk person who he admists "may not be the best person in the world for getting new students."
2. He has implemented a call-back program for former students – the regulars and semi-regulars that left and never came back. He goes down the list of these people and has a friendly and personable work exchange person call them and simply explain that they are looking for ways to improve the studio and ask the former student why they left (This is done from a point of view of “I would love your feedback so we can improve,” but never “Hey, why did you stop coming?”)
The results? Roger has found that more than 50% of the time it brings students back! At first he thought it would feel intrusive, but what he found is that these people are actually flattered to get the call and be asked. They often end up deciding to come back without the topic ever even being suggested.
3. Roger started tracking the results of advertising. Instead of just putting ads in the paper and local magazines, he now tracks how many dollars worth of new business he gets from each of these efforts (See past articles or the home-study program for specific methods for doing this).
He knows that for advertising to be worthwhile he should earn at least 1.5 times what he spends on it. Now he knows what his return on each advertising dollar is.
Roger was amazed to discover that much of his high-priced advertising barely broke even, if that. He’s cancelled all of his newspaper and magazine ads and finds that his studio makes more money than it did with these ads running. He had been spending more on the ads than they brought in as new business.
4. Instead of “traditional” advertising, Roger has found something better – and cheaper. He has implemented a referral and networking program consisting of free classes for local business owners (who now have become business alliance partners) and improved internet marketing (again, I have gone into more detail on this in past articles and spend two sessions of the home-study program describing how to implement this). Both of these methods have been very effective in getting new students in his studio.
It’s not a single magic bullet for most studios, you see. Rather it’s a combination of specific methods and techniques that work together to significantly improve a studio. Note that not only has Roger increased his income from the studio, but he is now able to share yoga with more people and has the satisfaction of knowing he’s making their lives better. It took Roger less than three months to implement these changes and experience the results.
What is your next step? What are you going to do today (tomorrow at the latest) which will bring in more students, improve income or allow you to work less? Remember, every journey of 1000 miles begins with a single step. What’s yours?
Namasté
Coach Al Lipper
Business Coach for Yoga StudiosDestiny: SuccessWebsite: http://www.CenteredBusiness.comEmail: fcoach@centeredbusiness.comTelephone: (805) 544-3938
Coach Al Lipper of 'Destiny: Success' helps Yoga studio business owners smoothly run and expand their yoga studio business. He helps stressed and overwhelmed yoga studio business owners who spend most their time wrapped up in daily business tasks, who can't handle any more clients, or who can't make any more money out of the yoga studio.
Coach Al helps clients find new yoga business strategies which result in generating more clients, increased profits, and more free time for the business owner. The amount invested was small compared to the results. Contact him today to discuss your yoga studio challenges at (805) 544-3938 or visit http://www.CenteredBusiness.com
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posted by Cheryl Levesque @ 1:57 PM
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