It happens all of the time. An individual excitedly opens up a dance studio full of hope and millions of ideas just to watch it crumble to the ground within a year or 2. Many people told you staying a float was going to be tough, but you were sure you had enough going for you to keep it under control. Maybe you are juggling things well, or maybe you are starting to feel like you are in over your head.
In any case, you are looking into dance studio software for a reason. If you find that any of the following remind you of your situation, you are looking in the right place. Here are 5 signs that you could use the help of dance studio software.
#1 - Communication With Students and Parents is Hard
If you are feeling this way, your customers definitely are as well. Transactions should feel nothing but smooth and easy for your clientele, and dance studio software can make that happen by simplifying the whole process. In order to embrace this, you allow the technology to do what it can do to help you. There a few ways that technology makes communication easier:
The internet connection. Incorporating the internet into your business is a necessity if you are going to consistently communicate with customers about their needs and keep them engaged. the internet is not expensive, considering how easy it makes things for you. With the internet you can provide a website that includes everything one might need to know about your business as well as the use of emailing. Technology makes it so you are the one running the ship, and the software helps you organize this communication with automatic emailing options and notifications, portals that you and your staff can give parents specific access to, information about payment and enrollment through your website, etc.
Convenience of mobility. Incorporating this technology makes all of your operations mobile friendly for students, parents, and staff alike. No matter where they may be, they can use their mobile phones or computers to review schedules, skills, pay bills, and more.
Information delivery. By using this technology, you will have the ability to keep parents informed about updates and future plans. You can choose the manner of which you would like the information to be delivered and how often your company is reaching out to your clientele. You can even make settings to send texts if certain parents prefer this method of communication. The parents will also be able to sign up for alerts of their choosing, giving them control over how much communication they wish to have from you. Some examples of alerts they may receive are:
- registration alerts: current and former student families can be informed when online registration is available and when the deadline is
- payment reminders: you can notify parents of overdue payments or if the credit card you have for them on file is expired
- cancelled classes: if weather or an instructor being sick makes it where you have to cancel a class last minute, you can quickly let parents know through email or text
- promotion of events: you can notify anyone on your communication list about upcoming open houses, camps, or recitals (which could encourage new enrollment)
- birthday wishes: show your students you care by recognizing their birthday
- staff portal updates: let your staff know about news and reminders when they login to the staff portal
- progress reports: let parents know how their kids are excelling or the new skills they learned in the classes that week
With better communication you will keep everyone feeling involved and heard. The easier it is to access information about your company, the easier it will be for people to remain intact.
#2 - You Can’t Keep Track of Finances
If your finances aren’t properly organized you are just asking for trouble. Dance studio software helps you with this by monitoring your cash flow. In other words, it keeps track of the movement of money coming in and going out of your business. The inflow of your business will mostly come from anything you sell or services you provide, but you can only count these transactions when you actually receive the cash. Outflows are mostly bills and any other necessary expenses.
Examples of these include:
- paying employees
- purchasing materials
- operation expenses
- paying back loans
- paying taxes
In order to understand the money you are making, all of your cash flow must be taken into account. Dance studio management software monitors cash flow by focusing on the day-to-day operations of the business and how finances are affected in turn. It looks carefully at the movement of money going in and out, and when this movement takes place. This is achievable by centering in on the following components:
Accounts receivable. Accounts receivable is the sales that have yet to be received in the form of cash. This balance is notated when you have sold something that the customer promises to pay you for down the road. These numbers must be factored into the cash flow or your income numbers can become very misleading.
Credit terms. These terms are the agreement you come to with your customers about their promise of payment. Having this agreement set allows a better organization of cash flow and ensures customers will pay their bills by a specific date.
Credit Policy. This policy defines the guidelines you draw up for yourself when it comes to offering a customer credit.
Keeping inventory. Inventory is what product you have on hand to ensure that you always can provide for the customer. Keeping too much extra inventory will make a large and unnecessary dent in your cash flow. By monitoring this, you will be able to determine just how much inventory is necessary and save money that could be used toward other, more demanding expenses.
Accounts payable. Accounts payable is the money that you owe to those that supply you with products necessary to make your business run. Without using payable or trade credit you would have to pay for all of your services and goods at once, which could wipe you clean. With the right payables schedule and cash flow management, you will be able to keep your bank account at a healthy balance.
Keeping track of all of this is complex and requires a lot of time and brainpower. Having a system that configures all of these numbers for you allows you to keep all of the math simple and in one place. Everything is kept on record and available to be analyzed the second a problem is encountered. Ask yourself:
- how much money do you expect to pay in taxes?
- what types of repairs does your building need, how much will they cost and how soon can you afford them?
- how much profit are you getting from each student?
- is your inventory hurting your cash flow?
- which classes are making you the most money?
If you cannot easily answer all of these, you are not monitoring your finances closely enough. With dance studio software, you will be able to determine the answer to all of these questions with ease.
#3 - You Have no Time for Yourself
When you first began dreaming about starting up a studio, you most likely envisioned something a little different. This happens to many dancers who open up their own studio, and it is probably not the first time you have heard it. Being a business owners often means a lot of work and little time to enjoy the fun that everyone else is having, but that just doesn’t seem fair.
On top of that, what about the things you want to do outside of work? When are you going to have time for those? You may not have the finances to hire someone to handle all of the busy work. And if you do, how do you know that you can depend on them to do a sufficient job?
Studio management software takes a bulk of work off of your shoulders while keeping it under your control at the same time. In addition, you will be able to:
- have quality family time
- take a trip here and there
- have a relatively normal schedule
- get a healthy amount of sleep
- enjoy the other extra curricular activities that interest you
You have the right to be a person, too. Yes, you chose to take on this commitment, but that does not mean that you shouldn’t be allowed a break. The software is specifically created for people like you who love what they do, but also need some time for themselves.
#4 - You’re Having Trouble Maintaining Students
You have had some pretty impressive foot traffic here and there, but you cannot figure out where all your students are going or why they aren’t continuing to sign up for more classes. Believe it or not, most of the time students do not register because the process isn’t convenient enough.
People like things to be quick and easy, and if parents have to take too much time trying to figure it out, it’s going to fall low on their priority list to the point where they will forget and then it’s too late. Dance studio software not only makes the process easy, it reminds parents so they simply are not able to forget.
You will have the ability to link existing clients to class availabilities so they are notified when you have opened up registration and when it is going to close. An easy link will be sent to them where they will simply have to fill out some information and click a couple buttons.
Previous clientele also have the option to elect the same payment method, making registration even easier. This ensures more people re-enrolling consistently and instant payment to your bank account. Having such an easy registration process will:
- cater to parents with little time
- provide ease for those less tech savvy
- keep your doors open for business
- give your customers the convenience they desire
#5 - You Have Little To No Internet Presence
As mentioned earlier, the internet is the ultimate key to keeping you connected to your customers. Not just that, it is where potential customers look to find out more about you. The less you have for them to look at, the less interest you are going to attract. You want people to remain interested in your business, and the best way to do that is by keeping your social media accounts, website, and emailing active.
Dance studio software can do all of this for you and keep you on your game by:
- sending out monthly emails
- reminding you to update your Facebook status
- providing you with a website design that connects to your other social media platforms
- helping you to create ads for social media based on your clientele
- tech support that can help you navigate all of the social media platforms and organize them in a way that will benefit you most
Do not underestimate the power of the internet. It the most valuable marketing tool that you have and there are many ways to utilize it. Not only should you have a presence, you want to be sure that it represents your company’s best qualities. This is what is going to draw people to you and allow your business to thrive.
What are you Waiting For?
Don’t let yourself get stuck in the stubborn, paralyzed act of hanging onto the way you have always done things. Look at your business carefully and be honest with yourself. If you truly need help, studio management software is an easy solution. You don’t have to give anything up or be brave, you simply need to embrace the change that will give you the results that you deserve.
Dance studio software programs offer you free trials or demos so you can feel them out and see if it is something that fits your business. So what are you waiting for? What can it hurt? Try it today and see what dance studio software can do for you.