How’s Your Productivity?
Summertime success results from more than fun camps or the perfect theme—although both can elevate your programming! A profitable summer requires thoughtful planning in all areas of your business, from finances to human resources to the classroom. Implement these ideas to ensure your summer hits the mark:
Pre-pay your summer rent or mortgage. Take some of the burden of expenses off your shoulders by getting ahead on your rent or mortgage (do make sure there is no prepayment penalty). Pre-pay in one lump sum or throughout the leading months.
Negotiate summer terms for staff. Discuss summer scheduling and wages well in advance so that you have time to adjust your budget and they have time to confirm the commitment. Resist the urge to overschedule, which can result in too-small classes (and too-small profit).
Cluster scheduling. Rather than spread out classes, camps, and staff throughout the week, determine your most popular days and times and cluster your offerings then. This schedule efficiency will help you stay lean on expenses. Add more as demand increases.
Optimize interns and alumni. If you have staff taking time off, summer is a great time to fill those gaps with talented young people who want to build experience—and whose wages are more cost-effective than your experienced teachers.
Bundle guest teacher services. Share a guest teacher with a neighboring studio owner and share the travel expenses too. Additionally, consider condensing the schedule to accommodate what you can afford: discuss with the guest teacher the most valuable way to use their time within your budget.
Plan next summer based on this one. Still working on the right summer formula? Track and document everything this year! Think about what you can replicate and what you can remove. Survey your clients at the beginning and end of the summer to incorporate their needs into your future plans.
Summer success depends on your intentions and your focus.