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Watch This Video Before Starting Your Dance Studio Business Plan PDF!

Checklist for Starting a Dance Studio Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Dance Studio business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free Dance Studio Business Plan DOC

This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your Dance Studio business.
Click Here! To get your free business plan template

Free Book for You: How to Start a Business from Scratch (PDF)

A Step by Step Guide to Starting a Small Business
This is a practical manual in a PDF format, that will walk you step by step through all the essential phases of starting your Dance Studio business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Copy the following link to your browser and save the file to your PC:

https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

How to Create Effective Advertising Campaigns

Human behavior, according to psychologist Abraham Maslow, is always the result of one or more of five basic needs or motivating forces. Maslow classified these in a sequence he refers to as "the hierarchy of human needs."

His theory is that until a lower-ranking need is satisfied there is no desire to pursue a higher ranking need. Below are the five human motivators, beginning with the basic or lowest-ranked need and continuing to the highest.

1. Physiological needs - Include hunger, thirst, reproduction, shelter, clothing, air and rest.

2. Safety-security - The need for security, stability, dependence, protection, structure, order, law, tenure, pension and insurance.

3. Love-belonging - The need for belonging, acceptance, love, affection, family and group acceptance and friendship.

4. Self-esteem - The need for recognition, respect, achievement, responsibility, prestige, independence, attention, importance and appreciation.

5. Self-actualization - The need for satisfaction, the desire to achieve fulfillment through reaching self-set individual goals or aspirations.

In the context of Small Business Effective Advertising Sales, the advertising practitioner will do well to become familiar with the Maslow theory of human motivation because it stresses once again that motivation is always an individual act. The most your advertising message can hope to do is to present an appeal strong enough to stimulate action toward satisfying one of the basic human needs.

If there is one rule that will be most helpful in preparing effective advertising, it is this: The message must put the desire of the potential customer before the advertiser's desire. Please read that one more time! The rule may sound like a simple one to follow, but frequently advertising messages take the form of a plea to customers to respond and solve the advertiser's problem.

Visualize the felt tip pen you probably use every day. When it was manufactured the raw materials were converted into these product features: a plastic barrel, a plastic cap, a supply of ink, a felt tip and a metal pocket clip. These are the total product points in the felt tip pen. What's amazing is that none of those things have anything to do with why you will buy the pen! You buy any item only for how it will benefit you. The key, of course, is benefit. Effective advertising must promise the consumer some benefit he or she will receive after buying the goods or services advertised. Product features should be cited only to make the promised benefits believable. Here is an example of how you can advertise the felt tip pen by promising benefits and then using the product features to make promised benefits believable. Cost Effective Advertising Campaign.

You can drop this pen on concrete from 20 feet in the air and it will not break because it is made of a strong plastic.

You can draw a jet black line for more than 100,000 yards, thanks to the large supply of quality ink.

This pen will not leave an ink stain on your shirt or in your purse, thanks to the snug-fitting plastic cap.

When you bend over this pen will not fall from your pocket because it features a strong spring steel clip.

Although this technique appears logical, many advertisements ramble on and on with all the product features while the potential customer asks, "What will it do for me?"

Using the benefit approach can be simplified by preparing a worksheet on which each product you plan to advertise is dissected into (1) the benefits the buyer will enjoy by owning this product and (2) which product features will help convince the potential buyer that the promised benefits are likely to be true. Using the benefit approach is the best advertising technique for each advertising medium. It is also the selling technique used by all top salespeople. Practice it-it works!

Techniques in Presenting Effective Advertising Message

The buying decision is seldom a purely rational one - emotions influence your behavior. As you explore various techniques for presenting your advertising message, do not ignore psychological and emotional appeals. For example, red, a strong color suggesting excitement, increases reader interest when used in sales ads. While the principles discussed here relate most specifically to print ads, they can apply to all media.

Determining Layout Shape and Design

Behavioral scientists have determined that of all the rectangular shapes, the vertical rectangle of approximately three units wide by five units deep is the one the public is exposed to most and, therefore, the one people find most comfortable. The advertising world refers to this shape as the golden rectangle of layout. It is believed that an advertising message receives higher readership when presented in this size.

Communicating Desired Layout to Printer

In submitting any printed advertising message to the media, the only way to ensure that your ad looks the way you intended is to provide adequate instructions. Layout means blueprint to the typesetter or printer. Your layout should be a full-size replica of what you want the finished advertisement or brochure to look like. Here are some guidelines to use in preparing layouts:

1. A layout should accurately indicate where all parts of the completed message are to be located with respect to the borders. This must include the location and approximate, if not actual, dimensions of all artwork.

2. There are five parts to a comprehensive layout:

Headline - Print all headlines right on the layout sheet, making the headline fill the width you want. Give the printer a close approximation of the desired type size by the size of your lettering. On each line, put the exact words you want to appear and use capital letters or upper and lower case letters the way you want the type set.

Illustrations - Use a copy machine, if possible, and paste a copy of any artwork or photograph on the layout sheet where you want it to appear. If you plan to reduce or enlarge the artwork, show the finished height, width and the location on the layout sheet.

Copy - Copy refers to the text in your advertisement. Do not letter in the copy on your layout sheet. Use two parallel lines to represent each line of copy and draw these lines in the exact position on the layout sheet. These parallel lines should show whether you want the copy set flush on both right and left margins or if you prefer a ragged edge on the right margin. Each block of copy should be positioned properly on the layout sheet and then should be keyed, i.e., assigned a circled letter of the alphabet that matches a separate block of copy supplied on copy sheets. Copy sheets should be typewritten, double-spaced and should include all words and prices to be typeset, including any headlines you have lettered on the layout. Leave a two inch left margin on the copy sheet to give the mark-up person space to code for type style and size.

 

 

Prior to opening your Company you must decide upon the general Cost Level you expect to keep. Will you cater to individuals buying
in the high, moderate, or low price range? Your choice of location, look of your institution, quality of merchandise handled, and
services to be provided will depend on the clients you would like to bring, and so will your costs.

After establishing this overall price level, you are ready to price Individual items. In general, the purchase price of an item
has to cover the price of the product, the other costs, and a profit. Therefore, you'll have to markup the item by a specific
amount to cover costs and make a profit. In a company that sells few things, total prices can readily be allocated to each product
and a markup immediately ascertained. With many different things, allocating costs and determining markup might need an
accountant. In retail operations, goods are often marked up by 50 to 100 per cent or more just to make a 5% to 10% profit!

Let's work through a markup illustration. Suppose your company sells 1 product, Product A. The supplier sells Product A for you
for $5.00 each. You and your accountant determine the costs entailed in selling Product A are $4.00 per item, and you also want a
$1 per item gain. What's your markup? Well, the sale price is: $5 plus $4 and $1 or $10; the markup therefore is 5. As a percent,
it is 100%. So you have to markup Merchandise A by 100% to make a 10% profit!

Many small business managers are interested in understanding what Industry markup norms are for a variety of products.
Wholesalers, distributors, trade institutions and company research firms publish a huge variety of such ratios and company
statistics. They are useful as recommendations. Another ratio (along with the markup percent ) significant to small firms is your
Gross Margin Percentage.

The GMP is comparable to your markup percent but whereas markup Identifies the percent above the cost to you of every item that
you must set the selling cost so as to cover the other costs and earn profits, the GMP shows the relationship between sales
revenues minus the expense of the item, which is your gross margin, along with your earnings earnings. Exactly what the GMP is
telling you is that your markup bears a certain relationship to your sales earnings. The markup percentage along with the GMP are
essentially the same formula, with the markup referring to individual product pricing and GMP referring to the product costs times
the amount of items sold (volume).

Perhaps an example will clarify the purpose. Your company sells Product Z. It costs you .70 each and you decide to sell it for $1
each to cover costs and gain. Your markup is 43%. Let up state you sold 10,000 Merchandise Z's Last month hence producing $10,000
in earnings. Your price to purchase Product Z was $7000; your gross margin was $3,000 (earnings minus cost of goods sold). This is
also your gross mark for your month's volume. Your GMP would be 30 percent. Both these percentages utilize the same basic amounts,
differing only in division. Both are utilized to establish a pricing method. And both are published and can be used as guidelines
for small businesses beginning out. Often managers decide what Gross Margin Percentage they'll need to earn a profit and simply
visit some published Markup Table to discover the percentage markup which correlates with that margin requirement.

While this discussion of pricing might appear, in some respects, to Be directed only to the pricing of retail product it can be
applied to other kinds of companies as well. For services the markup must pay for selling and administrative costs as well as the
direct cost of doing a specific service. If you're producing a product, the costs of direct labor, materials and supplies,
components purchased from different concerns, special tools and equipment, plant overhead, selling and administrative expenses
must be carefully estimated. To calculate a price per unit needs an estimate of the amount of components you plan to produce.
Before your factory becomes too large it would be smart to consult an accountant about a cost accounting system.

Not all things are marked up from the typical markup. Luxury articles Will require more, staples . For example, increased sales
volume from a lower-than-average markup on a certain item - a"loss leader" - may bring a higher gross profit unless the purchase
price is lowered too much. Then the resulting increase in earnings will not increase the total gross profit enough to compensate
for the minimal price.

Sometimes you Might Wish to sell a particular item or service at a lesser Markup so as to increase store traffic with the
expectation of increasing sales of Regularly priced merchandise or generating a large number of new service contracts.
Competitors' prices will also govern your costs. You cannot market a Product if your competition is greatly underselling you.
These and other Factors May cause you to vary your markup one of items and solutions. There is no magic Formula that will work on
each product or each service all the time. But You ought to keep in mind the overall average markup that you need to make a
Profit.

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