Month: July 2018

Knowing Your Revenue Streams

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KNOWING YOUR REVENUE STREAMS
To maximize your revenue from martial arts school, you must have a clear understanding of your revenue streams.

Read these carefully. Not all will apply to you, but wouldnt it be nice if they did? One clear requirement for successfully utilizing most of these is that you will have to use agreements rather than month-to-month programs.

Revenue Stream 1
Down Payments on New Student Agreements

Also known as a registration fee, this is the initial investment a student makes to join your school. Typically, this is at least two months tuition. For instance, a program is $199 down payment/registration and $99 per month for 12 months or ongoing.

Revenue Stream 2
Down Payments on Renewing Agreements

This is the initial investment a student makes in order to renew or upgrade in your school. The best strategy for this has been the Black Belt Club. If you do not have a solid system for upgrades and renewals, this stream is dry for you.

Revenue Stream 3
Monthly Tuition
This is the lifeblood of your school. As you grow your school, your monthly tuition should grow as well. Ideally, your monthly tuition would cover your base operating expenses each month. For instance, if all the monthly expenses, including your salary, totaled $12,000, your monthly tuition collections from your billing company would cover that amount. In that very healthy scenario, these other streams are 100 percent profit. Mind you, this is not easy to accomplish, but even 75% of expenses paid from your billing check would be good.

Revenue Stream 4
Product Sales
Consider your retail shop as though it were a separate business. Open a separate business checking account for your retail, and deposit all gear sales revenue into that account. Use an American Express card or any other credit card that requires pay-off each month to pay for equipment purchases. When you place an order, pay for it with your credit card. This gives you up to 30 days to sell the equipment to your students. As they pay for the equipment, deposit the funds into the retail account.

When the credit card bill for the equipment is due, pay for it with a check from the retail account. Since you are usually doubling your money, this retail account will grow fast. Your credit rating will grow, as well as your rewards for using the card. Ideally, you will build a large cash reserve and save money on plane tickets and vacations, too.

Sell thousands of martial arts products and supplies directly from your website. You choose which products to sell, set the retail price, and still only pay wholesale. Veteran schools have reported that they have tripled their retail sales using this valuable service.

Best of all, student payments go straight into your bank account and you are billed your wholesale rate, allowing you to better manage your cash flow and not have to wait for your referral check to arrive.

Revenue Stream 5
Special Events
Even if you dont charge for testing, you will want to host at least one special event each month for your student body. These can range from nunchaku seminars to board-breaking, “Fear Into Power” seminars. These are not only pretty easy to manage, but they are a lot of fun. My nunchaku seminars were always packed with 30 to 50 students and would generate around $500-$1,000 per event. The fee of $25 included two rubber nunchaku to use in the class, so it was almost pure profit.

Birthday parties would also go under this category. A two-hour $250 birthday party is not only a revenue generator, but also a lead generator. Some schools have at least one birthday party per week, so its a proven winner.

Revenue Stream 6
Testing/Grading Fees
I didnt include these with Special Events, because exam fees are a little different from special events. Most exams for stripes occur in class, and they usually dont require a fee. The main graduations on the weekends require additional work and staff, so its reasonable to charge for these events.

Typically, exam fees range from $30 to $50 and increase with rank. Black belt exams can be as much as $200 to $300 but, to justify this higher fee, you should provide additional prep classes for the black belt candidates.

Some schools are large enough that they rent auditoriums to showcase their graduating black belts or to conduct the exam. The exam fee should cover these additional expenses.

Revenue Stream 7
Fast Track Testing
This is a touchy subject and has to be handled carefully. The idea is simply that some people are willing to invest more money to get through your belt system faster.

Revenue Stream 8
Paid in Fulls
In recent years, Paid In Fulls (PIFs) have made a huge comeback. MASS and other such organizations have championed the cash out as a way of getting maximum revenue from a student base that will more than likely drop out anyway. As much as I dislike the idea of treating all students like potential dropouts, smart use of Paid in Fulls can significantly boost your bottom line.

Revenue Stream 9
Renewals and Upgrades
Black Belt Club and Masters Club are the most popular and proven renewal programs. For now, we want to focus on the renewal as a revenue generator.

Common practice has been to upgrade someone to a BBC or MC and replace his New Student agreement or program with the more expensive BBC or MC program. In most cases, the renewal had a registration of $299 or so, and tuition increased $10 per month.

Another popular strategy is to keep the student on their current tuition plan, but charge them a one-time or annual fee to upgrade to BBC or MC. For instance, a student is paying $110 per month for her current program. A BBC or Masters’ Club upgrade is presented as an annual upgrade for $500.

Revenue Stream 10
Discounting a Past-Due Contract
When I was a publisher for Martial Arts Professional magazine, we sold advertising to clients who wanted to reach and sell to our readers. On occasion, an advertiser would want to cancel the contract. In the world or publishing, the process for doing this is called shorting the contract.

In exchange for committing to a set number of ads, the advertiser would be given a discount for each ad they placed. Shorting the contract meant that the ads the client ran would be re-billed at the one-time rate and, if he paid the difference, wed release him from the contract.

Revenue Stream 11
Career Training Programs
For years, Ive taught the importance of creating a Leadership Team of assistant instructors to help you provide a higher level of service to your students. Typically, the Leadership Team is a by invitation only program for Black Belt Club members.

More and more schools are expanding Leadership Team programs into a precursor to a full-blown Career Development program that trains students to become martial arts school owners and instructors. Students pay for the right to attend staff meetings, practice role playing, and venture “into the kitchen” of the school.

Tuition for these programs are as high as $7,900 for a two-year course. Keep in mind that, in order to offer this, you really have to know this business cold and create a solid curriculum on par with a vocational school, because, in a sense, thats what you are offering.
Student Audit

This is not so much a revenue stream as a way of plugging leaks in your cash flow. The Student Program Audit is a single sheet of paper with three columns and 11 rows. The columns are for a students first, second, and third programs within a school. Typically, these are New Student, Black Belt Club, and Masters’ Club, but any program will work.

The first six rows are the various payment options a student might use in your school. The next two are the start and end date for the program, which are followed by a check mark to make sure the Party Responsible for Paying is noted in the agreement and that the injury waiver has been signed. Your job is to audit each and every students file to make sure you have each of these important items in the students folder.

The first few times you do a Student Audit, it is like found money. You will be amazed at how much important paperwork is missing. More than that, you will be stunned at how many students are training who have expired or have no record of payments.

Staple one Student Audit to the outside of each student file.

Build Around Your Core
Not all of these revenue streams will be for you. Thats why the Core Dynamic of Finding Your Own Voice is so important. I personally helped create many popular trends in this industry. I also made it clear what programs I would never teach, even though I developed and sold them. What is good for me may not be good for you. Know what you like, and why you are doing this for a living, and then build strong revenue streams around those core programs.

Academy Of Applied Arts Visual Merchandising, Interior Design, Fine Art – Institute In Delhi

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Applied arts is gaining greater popularity every day. Creative people will always find a possibility to learn and then share their talent with other people. Visual Merchandising, Retail Design, Interior Design are an integral part of fine arts. Academy of Applied Art is situated in New Delhi. It has three departments which provide training for different types of Degree and Diploma Courses of fine arts. Art helps relieve stress and divert minds from useless thoughts. The best place to know art is the art gallery. The academy of applied arts is noted to be the biggest art and design school in New Delhi, India. There are special facilities for the online studying, that became very popular now a days. The Institutes provide the students with the virtual classrooms and conference. That helps to create the atmosphere of the real seminar-style classroom and with the professor who the students can interact with. In the Academy of Art New Delhi the students have the opportunities to get the educational degrees in Interior designing, retail designing and visual merchandising. Applied arts is a buzzword in todays world. In last few years, there is constant increase in popularity of applied arts as a profession. Applied arts courses are now offering widely in Academy of applied arts and it teaches the process of visual merchandising, interior design and fine arts to be successful as an designer.Applied arts is a form of art which makes places beautiful and useful, people thinks, Art is just to make places beautiful, but it is not true, arts makes place beautiful as well as useful. Art is the expression of beauty and sensitivity. Numerous people have a special taste and interest for pieces of fine art.Arts is one of the traditional things in India which shows different cultures, religions and living style of Indian. It is the most important stream of students from career prospective. Art includes different terms in it humanities, visual arts, fine arts, interior design, visual merchandising, retail design and performing arts are divided terms of it. Academy of fine arts, Delhi offer almost all the subjects of humanities at Diploma, graduate and post graduate level. A visual merchandiser uses the creativity and innovative ideas for displaying the goods according to the current trends and concepts. The merchandiser have to keep in mind the basic ideas and components of visual merchandiser. Visual merchandising really make the market place innovative and exciting the design of visual merchandising includes the elements like color, line, shape, texture, light and motion etc.
The Academy of Applied Arts is located at 13 satya niketan, south campus, dhaula kuan opp. Venkteshwra college, New Delhi. The Institute of Applied Arts is affiliated by the UGC recognized EILLM University & Academy of Applied Arts. In Applied Arts Academy in all programs like visual merchandising, interior design and fine arts recognized by EILLM University & Academy of Applied Arts.
Programs offered by The Fine Art Institute of Delhi in various fields, is:-
Visual merchandising
Diploma in The Visual merchandising
Degree in Bachelor of Visual merchandising
Degree in Applied Arts
Foundation Diploma in Visual Merchandising (FDVM)
Advanced Diploma in Visual Merchandising (ADVM) *
Advanced Diploma in Visual Merchandising Online (ADVMO)
Graduate Program in Visual Merchandising (GPVM) *

Interior Designing
Higher Diploma in Interior Design (HDID) **
B.Sc in Interior Design ***
Advanced Diploma in Interior Designing

Retail Designing
Higher Diploma in Retail Design (HDRD)
B.Sc in retail Design ***

Admission requirement at The Applied Art Institute of Delhi is:-
Candidates who have appeared / appearing:
10 + 2 (CBSE / ICSE) or equivalent as per UGC guidelines
Basic knowledge of Artistic & Creative Skills
General Design & Creativity Test
Essay Writing Test
The General Design & Creativity Test is designed to understand the creative knowledge, communication skills and general aptitude of the candidates towards Design.
Essay Writing Test is to evaluate the free-writing skills of the candidate.

Concussion Protection For Mixed Martial Arts & Judo

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Mixed Martial Arts is a dangerous sport; many fighters end up with serious brain and head injuries if they are not using the proper Concussion Protection. Mouth guards are an essential protection item for Mixed Martial Arts fighter and while most mouthpieces will only protect directly the upper jaw, fighters agree; a solid and strong mouth guard protecting the upper and lower jaw decreases the risk of head injuries, helps keeping the eyes open even during impact and minimizes the chances of getting knocked out during combat.

The WPR-300 High Performance mouth guard from Brain-Pad, for example, is a revolutionary Concussion Protection specifically designed for Mixed Martial Arts fighters. This specific mouthpiece protects efficiently the lower jaw and the upper jaw while allowing for better breathing it also absorbs blows otherwise destined for the skull or the head. Many world-renowned Mixed Martial Arts fighters have been openly advertising wearing similar mouth guards; Cung Le, Frank Shamrock, Jerome LeBanner, Jorge Rivera and Mat Horwich have all agreed that the protection offered by a type of mouthpiece like the WPR-300 is far superior to an upper-mouth only protection.

To avoid any serious head injuries related to concussive blows, it is important to wear the proper type of mouth guard when practicing Mixed Martial Arts. Effective Concussion Protection will give fighters a chance to breathe properly, to increase their chances of winning a fight instead of getting knocked out and to lengthen their career by minimizing potential injuries.

It might be a bit puzzling at times to try and find the right Concussion Protection for Judo. The ultimate goal is to find a mouth guard, or mouthpiece, that will protect you from possible head trauma and reduce the risks for brain injuries. The main feature in Judo is the competitive feature the object is to throw the opponent on the ground, by immobilize him or otherwise subdue the opponent during the combat. Such practice needs good protection; the ideal Concussion Protection for Judo will be something like the Brain Pad 3XS.

The 3XS is designed especially for athletes practicing high-impact sports. It is conceived especially to help absorb the impact of concussive blows to the base of the skull. It protects both the upper and lower jaw, which is a rare feature for any type of mouth guards but can greatly make a difference in the level of comfort of an athlete. It features high impact gel-pad inserts, extended wrap-around outer bumper and tapered channel ends to offer the maximum level of comfort, protect against impacts and blows and allow for maximum breathing through the windows at the front, unlike many other mouth guards used for Judo.

For any Judo athlete, Concussion Protection is a main concern and should not be addressed lightly. Finding the right Concussion Protection for Judo is essential head injuries can be traumatic experience and leave your brain damaged. Using a mouthpiece like the 3XS can increase your chances of winning but can also save your life and optimize your fighting experience.

For more information on high-quality mouth guards, visit BrainPads.

The Martial Arts Enrollment Process

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In the 1980s, Educational Funding Company (EFC) was the first to have success creating systems to support an agreement-based school. Our industry owes a debt of gratitude to Nick Cokinos and his ability to teach, motivate, and inspire some of the most successful school owners today. Guys like Dave Kovar, Steve Lavallee, and Keith Hafner all learned the business from being clients of Nick Cokinos.

Mr. Cokinos was an early partner with Jhoon Rhee, and together they created many of the business elements we take for granted today. From the Black Belt Club to musical forms and safety equipment, the ideas that came out of the powerful combination of Jhoon Rhees drive to make a difference and Nick Cokinos business savvy created probably the most successful family tree of martial arts school owners. Jeff Smith, Stephen Oliver, John and Pat Worley, and Regina and Angel Gonzalez may not all have been EFC clients, but they cut their teeth as students and then instructors under Jhoon Rhee while Nick was running the businesses.

EFC emphasized having systems for every aspect of your school and building your receivables base as the way to build wealth and value for your school. As self-serving as this may seem coming from a billing company, they are absolutely correct. Thats not to say many cash out kings and month-to-month schools have not built wealth, but its tough to build value in your business if the majority of students have already paid or are free to leave at anytime.

If your exit strategy is to sell your business, then this is something to consider very seriously.

Not many people are in the market for a school full of students who require lessons but have already paid. Month-to-month schools can be sold but will usually not get the same price as a school with a portfolio of agreements and a history of high collections.

Having an agreement is also good for retention. Thats not to say students on agreements dont drop out; they certainly do. However, the very nature of making a contractual commitment to train for a period of time helps students stay longer than those who can cancel at any time. Some school owners dread presenting an agreement to be signed by a new student. Conversely, the instructor who understands the Core Dynamic of Valuing What You Do feels it is a waste of everyones time for someone to enroll for less than 100 classes or about one year. What would someone get out of three or six months of martial arts? If you are a top instructor, you want to work with students who appreciate that and will be in class.

Remember, in almost all markets, the largest schools with the most students and highest tuition typically require agreements. Often these are surrounded by smaller mom-and-pop schools or dungeon dojos with signs in the window reading No Contracts. The sign should say No Confidence. Not that every school that doesnt use contracts lacks confidence. I mean that a school that uses that as its unique selling position is selling from a weak place.

Using an agreement tells prospects that you have expectations about your relationship. It communicates that you value what you do, and that is a positive element in helping the student gain confidence in your school. Certainly, an agreement can complicate the enrollment process, but not as much as many might think.

Like all sales (and any financial presentation is a sales presentation) the most successful ones start with an attitude of positive self expectancy. The successful salesperson believes in what he does, and he believes everyone will enroll. This is much bigger than you may think. People who are nervous about contracts will often convey that to the prospect, who will then contract the virus of concern.

Proficient salespeople are very well rehearsed, and they understand people. They dont make light of the agreement; they also dont concern themselves with it. Its just the final step in the enrollment process. They simply present it as an opportunity for the student to get involved in the school. On the other hand, the struggling salesperson will present it as though the student were signing her life away.

It makes sense, though, in a business like martial arts where there is still confusion and concern about money mixing with arts, that the promise of high enrollments without agreements would be very attractive, and it is.

What Type Of Insurance Does A Martial Arts Studio Need To Have To Purchase

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Why Martial Arts schools want to have Participant Liability Insurance for their courses & Activities. For a superior provide far considerably a lot more facts and info click right here: martialartsliabilityinsurance.com

One particular certain of the vital troubles that can transpire to a Martial Arts instructor is taking into consideration irrespective of no matter if or not they have liability coverage, only to find, that your cash has been wasted and you have ineffective, or even worse, no coverage at all! With no Martial Arts participant coverage, YOU WILL BE Accountable FOR ALL connected health-related expenses relating to a student or tournament participant turning out to be injured! If your present insurance coverage does not have a medical clause in it, your policy is inadequate mostly for the explanation that it does not have participant injury coverage integrated. When this provision is not there, you could be sued and be solely liable for $one,000,000.00. All martialartsliabilityinsurnace.com insurance coverage policies have medical coverage.

The most critical objective why liability coverage is a need to have for Martial Arts schools is due to the fact that the landlord is going to insist you have it as a situation of your lease. Because of this, you can not open your college or hold a tournament or instructional seminar or give a demo without the need of the expected insurance.

The second purpose is to guard you in case of an accident injury in the studio though teaching or at a demonstration or participation tournament. Regularly, a student is harmed although participating due to an accident. You should not have the worries linked with a student or participant accident. Any person understands about the extreme cost of any type of health-related method. It can be really pricey, even for the tiniest injury. At Martial Arts Liability Insurance, you simply fill out the claim specifics, e-mail it to us for processing, and your program of action is completed! Its simple and strong.

You have invested a great deal of time honing your abilities to grow to be a competent master in the art of self defense. Now you want to commence on the path to educate other persons on how to defend themselves. This is a truly lofty aim. There is a really considerable problem you will have to deal with initially. It is defending oneself. With lawsuits rising everyday you should arm yourself with Martial Arts participant liability coverage.

At Martial Arts Liability Insurance coverage, we supply complete insurance, exclusive to the Martial Arts studio proprietor. Our policies are the most total, substantial and lowest expense on the planet-wide-web.