Although I have been training for quite sometime, is opening a dojo in LA lucrative?
- You will make money teaching knowledge, not a product (there is no money spent to "restock" your item)
- You will get paid to do what you love (If you are opening a school you better love what you do!)
- You will get to see students who can not chew gum and walk at the same time become very coordinated and confident
- You will become vested in your community since you will be working with the people living there
- You can make your own hours
- You will not have a boss
- You will help people's life become better
- As your student base grows, you will make more money teaching the same class. For example, if you teach 2 students but then your school grows to 15 students, you will have a larger revenue, for each class taught.
- You will lose money until you get enough students to start breaking even (especially in LA!)
- You will have competition from the other schools (not just in your own style but ALL styles)
- Rent - can be costly
- Insurance (Liability insurance is a killer)
- Staff Issues (You will want to get one over time, so that if you get sick or something comes up, you will have a backup)
- Payroll (See above)
- Keeping track of Books (Taxes, etc..)
- The parents of kids (they are pains in the rear!) They are worse than the kids sometimes.
- It can be scary depending on your school for an income if you decide to do this full time.
- Most of your classes will be in the evening (Good bye social life!)
While this may not be the only Pros and Cons, I just wanted to provide a basic list for you to contemplate on as you make your decision about opening a school in LA.
While it is enjoyable work, it is hard work as well. You want to give the very best to your students, and that can be very demanding of your time and energy.
I have just reached 500 students at my school, but it did not happen over night. It took time, patience, sacrifice, and lots of elbow grease!
Best of luck!
More Questions & Answers...