DanceStudio-Pro Blog

The average healthy profit margin for a small business is between 7% and 10%, depending on the sector. For example, a dog grooming business would likely have a higher average profit margin than a restaurant as food service is notorious for its razor-thin margins. How do your small business’s profits compare to this benchmark?

While the answer to that question will depend on many factors, from the age of your business to the products and services you offer, it’s worth considering ways you can boost your profits. Implementing other revenue streams in addition to your core offerings is a great way to secure more revenue and improve your financial security. 

To help you get started, we’ll walk through a few ideas you can employ to start bringing in more money, whether you run a dance studio or a local gym. Let’s begin!

When it comes to running a successful dance studio, your team knows that you’ll need all hands on deck. However, even with everyone on your team working diligently towards your goals, you might find yourself overwhelmed with everything on your plate.

In a world as vast as the internet, carving a distinctive path for your small business isn't just a choice—it's a necessity. However, with so many businesses vying for attention online, it can be difficult to make your presence known. 

Running a dance studio involves many moving parts. From processing your students’ tuition payments to communicating important updates to your community, your studio likely has its hands full. Rather than overwhelming your staff, streamline your operations by upgrading your tech stack with apps for dance studios.

As a small business, your margins are likely razor-thin. If your only revenue stream dries up, you can quickly go from being profitable to scrambling to stay afloat. However, with multiple revenue streams in place, you can afford a stream or two to dry up and offset any drop in revenue with your other streams.