nucat78
Active Member
Why do you have to rent at an expensive commercial place ?
As far as I know people will seek you out even to faraway places if your instruction is top class. Well, I will.
If I might be allowed to put my marketing to use:
I have no idea what a real market analysis would look like but I suspect that the majority of business for any studio around here comes from social dancers and wedding couples and they are not inclined to go to an out of the way place. There are enough studios that they will most likely go to the most conveniently (i.e. a visible commercial location) located one unless the instruction is really bad, etc.
The business decision then becomes volume vs higher priced higher level instruction. It's like selling a lot of Hondas versus a few Porsches.
I think there'd be merit in owning an entire micro-mall, keeping one unit for the studio and renting out say the other 3 or 4 units. That way you have a reasonably steady cash flow from your tenants to offset seasonal variations in dance lesson attendance.
That, of course, takes some big bucks and you incur the headaches of being a landlord (and I was one once - it's great if you have good tenants, horrible if you have bad.)