Writing a Martial Arts School Business Plan
At the start of each year, it is a good time to focus on where you want your martial arts school to go in the following year, to work on your school and not in your school.
There are several reasons why now is a good time to write your school business plan or to update an existing one:
- Most of the following year's new members join between February and May. A business plan will help you take advantage of these opportunities.
- At the start of the new year., you and your team are more energetic and enthusiastic. So, having your big projects planned and ready to go when you return will give you a better chance of success before work and other distractions consume your energy.
- Defining your actions and implementing them takes time, so having them ready at the start of the year allows you to implement them as soon as you reopen for the year.
We recommend committing ideas to paper because it is special. Seeing your thoughts on paper creates an energy—or a commitment—that turns these thoughts into actions.
Your plan should include:
- A high-level statement about your school's core values and objects
- A description of what your school provides and your target market
- Some metrics, e.g. membership target, retention target and/or revenue target
- SWOT analysis (Strengths, Weaknesses, Opportunities and Threats)
- Specify some Goals or Targets to achieve over the next year
Some examples of goals or targets
Target 1
- Increase Student Membership by 10 children and 10 adults by (date)
- Specific Actions, e.g.
- Partnering with a local school if you train children
- Social media/Digital advertising (can be paid or unpaid)
- Engaging with the Sports promotion officer in your local Council
- Open-air classes in a park or at a broader demonstration to engage with the public
Target 2
Increase Student Retention from 70% year-on-year to 80% year-on-year by (date).
- Specific Actions, e.g.
- Contact students who have left in the last 6 months and ask them why they left.
- Collate the information and see if there are any common reasons
- Determine if any common reason given is within your control or not.
- Implement an action that helps address this reason
These are just a few initial thoughts, but whether you manage a small or large school, having a Business Plan in some form will be crucial in capitalising on the energy at the start of every year.
Please get in touch with us if you want assistance creating a business plan for your martial arts school.