Dance Studio: Dancing Divas

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Editor: Sonya D. Hill
Date: 2013
Business Plans Handbook
From: Business Plans Handbook(Vol. 26. )
Publisher: Gale, a Cengage Company
Document Type: Topic overview
Pages: 7
Content Level: (Level 5)

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Page 85

Dance Studio: Dancing Divas

7889 Washington St.
Jacksonville, FL 32202

Fran Fletcher

Dancing Divas is a dance studio located in Jacksonville, Florida co-owned by Farah Jones and Madelyn Johnson. Ms. Jones and Ms. Johnson want to share their passion for all things dance with Jacksonville area students ages 2 and older. Dancing Divas will offer multiple levels of instruction in ballet, jazz, tap, modern, ballroom, and hip hop.

BUSINESS SUMMARY

Dancing Divas is a dance studio located in Jacksonville, Florida co-owned by Farah Jones and Madelyn Johnson. Ms. Jones and Ms. Johnson want to share their passion for all things dance with Jacksonville area students ages 2 and older. Dancing Divas will offer multiple levels of instruction in ballet, jazz, tap, modern, ballroom, and hip hop.

Dancing Divas are excited about the opportunity to provide area dance students with a convenient location and class schedule. It is the mission of Dancing Divas to help students of all ages gain selfconfidence and poise through dance in a structured but fun environment.

The owners of Dancing Divas are currently seeking financing for this venture. They have secured a location to rent that is highly visible and conveniently located to three schools. However, some renovations are needed to utilize the space for a dance studio. The owners are confident that classes will fill quickly and profits will follow.

COMPANY DESCRIPTION

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Location

Dancing Divas is located in the Five Points shopping plaza, which also is home to Publix, Anytime Fitness, and Quiznos Subs. It is conveniently located near Hendricks Avenue Elementary School, Julia Landon Middle School, and Douglas Anderson School of the Arts, which have a combined student enrollment of 2,500 students. The retail space needs modifying in order to accommodate a dance studio. The owners would like to divide the space into two large studios, two restrooms, two changing rooms, office, storage area, reception area, and apparel/accessory area.

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Hours of Operation

Dancing Divas will operate as follows:
      Monday-Thursday 12 PM—7 PM
      Friday 2 PM—5 PM

Summer Hours include:
      Tuesday-Thursday 10 AM—4 PM

Personnel

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Farah Jones (co-owner/instructor)

Ms. Jones received her B.A. in performing arts from the University of Florida and an M.B.A. from Florida State University. She danced with the Atlanta Ballet Company for two years. She has 20 years of dance experience and three years of experience as a dance instructor at Dainty's School of Dance in Gainesville, FL.

Madelyn Johnson (co-owner/instructor)

Ms. Johnson received a bachelor's degree in business administration from Valdosta State University and a B.A. in performing arts from the University of Miami. She has 18 years of dance experience and two years of experience as a teaching assistant at Regina's Dance Studio in Valdosta, GA.

Student assistants

Two student assistants will be hired to assist with instruction. More may be added as needed.

Products and Services

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Products

  • Dance apparel
  • Dance shoes
  • Dance supplies

Services

  • Dance Instruction for preschoolers
  • Dance Instruction for children and teens
  • Dance Instruction for adults
  • Private Instruction

Class Schedule

Regular classes will start in September and end in May of each year. A summer schedule will also be offered, with limited spaces available, for students wishing to continue instruction during the summer.

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Class Schedule—Monday
Studio Class Time Student age Max # students
A Mommy and Me 1:00 p.m. 2 years 8
A Baby Ballet 2:15 p.m. 3 years 8
A Hip Hop for Kids 3:30 p.m. 5–7 years 12
A Twinkle Toes 4:30 p.m. 4 years 12
A Totally Tweens 5:45 p.m. 8–10 years 12
B Modern Dance 3:00 p.m. 13+years 12
B Intermediate Ballet 4:00 p.m. 12+ years 12
B Ballroom 6:00 p.m. Adults 12


Class ScheduleMonday Class Schedule—Monday

Class Schedule—Tuesday
Studio Class Time Student age Max # students
A Mommy and Me 1:00 p.m. 2 years 8
A Baby Ballet 2:15 p.m. 3 years 8
A Totally Tweens 3:30 p.m. 11–12 years 12
A Twinkle Toes 4:30 p.m. 4 years 12
A Baby Ballet 5:45 p.m. 3 years 8
B Twinkle Toes 4:00 p.m. 4 years 12
B Hip Hop for Kids 5:30 p.m. 8–10 years 12


Class ScheduleTuesday Class Schedule—Tuesday

Class Schedule—Wednesday
Studio Class Time Student age Max # students
A Mommy and Me 1:00 p.m. 2 years 8
A Baby Ballet 2:15 p.m. 3 years 8
A Intermediate Tap 3:30 p.m. 10+ years 12
A Intermediate Jazz 4:30 p.m. 10+years 12
A Totally Tweens 6:00 p.m. 11–12 years 12
B Modern Dance 4:00 p.m. 13+ years 12
B Ballroom 5:30 p.m. 13+ years 12


Class ScheduleWednesday Class Schedule—Wednesday

Class Schedule—Thursday
Studio Class Time Student age Max # students
A Intermediate Ballet 3:30 p.m. 12+years 12
A Intermediate Tap 4:30 p.m. 10+years 12
A Intermediate Jazz 5:45 p.m. 10+years 12
A Intermediate Hip Hop 6:45 p.m. 10+years 12
B Totally Tweens 6:00 p.m. 8–10 years 12
B Advanced Ballet 4:00 p.m. 15+years 12
B Advanced Hip Hop 5:30 p.m. 13+years 12


Class ScheduleThursday Class Schedule—Thursday

Class Schedule—Friday
Studio Class Time Student age Max # students
A Private Instruction 3:00 p.m. Any 2
A Private Instruction 4:00 p.m. Any 2
B Private Instruction 3:00 p.m. Any 2
B Private Instruction 4:00 p.m. Any 2


Class ScheduleFriday Class Schedule—Friday

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Summer Schedule (each class is limited to 12 students)
  Tuesday Wednesday Thursday
10:00 a.m. Mommy and Me Baby Ballet Twinkle Toes
11:00 a.m. Totally Tweens Hip Hop for Kids Ballroom
1:00 p.m. Hip Hop for Kids Totally Tweens Mommy and Me
2:00 p.m. Intermediate Ballet Modern Dance Advanced Ballet
3:00 p.m. Private Instruction Private Instruction Private Instruction


Summer Schedule (each class is limited to 12 students) Summer Schedule (each class is limited to 12 students)

MARKET ANALYSIS

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Industry Overview

According to the Bureau of Labor Statistics, the job outlook for self-enrichment teachers is expected to increase by 21% from 2010 to 2020. Dance is a popular extracurricular activity that provides children of all ages with a fun form of exercise. Added benefits of dance are learning rhythm, increasing coordination, and boosting self-confidence.

Target Market

In the beginning, the target market for Dancing Divas will be preschoolers in surrounding neighborhoods and students attending Hendricks Avenue Elementary School, Julia Landon Middle School, and Douglas Anderson School of the Arts, which are in close proximity to the studio.

Eventually, children between the ages of 2 and 18 in the southeastern Jacksonville area will be the future target market for the dance studio. According to CLRSearch.com , in 2010, Jacksonville's youth population consisted of:

  • Age 0-5: 75,982
  • Age 6-11: 68,237
  • Age 12-17: 70,874

Dance studios are generally limited in the number of students that can be accepted due to the fact that most children are enrolled in school and are unable to attend classes before 3:00 p.m. and after 7:00 p.m. The owners have plans to open an additional studio in a few years and would be able to accommodate more of Jacksonville's youth.

Competition

Dancing Divas wants to give its students the opportunity to experience a variety of dance types in order to present them with the opportunity to find a type in which they excel. There are currently three dance studios within ten miles of Dancing Divas. All three studios specialize in a specific area of dance.

  • Just Dance—Specializes in hip hop
  • Bunheads—Specializes in ballet
  • Stella's Dance Academy—Specializes in dance competition

GROWTH STRATEGY

The overall strategy of Dancing Divas is to offer an environment where students feel free to express themselves through dance and music. The owners know that if students enjoy their classes that the studio will grow through referrals. The owners have created a conservative class schedule and expect classes to fill up quickly; however, more classes can be scheduled in Studio B if necessary. If Dancing Divas has a full class load, it will achieve financial independence during the first two years of operation. Page 89  |  Top of ArticleDancing Divas will have enough square footage to add a third studio so that additional classes and instructors can be added as needed. After funding is repaid and the owners have saved additional cash, Dancing Divas would like to open a second location to accommodate additional students in approximately four years.

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Sales and Marketing

The company has identified key tactics to support the company's growth strategy.

Initial advertising will include:

  • Running newspaper ads in the Florida Times Union
  • Giving Dancing Diva pencils to students at area schools
  • Mailing postcards to area neighborhoods

Ongoing marketing strategies:

  • Using social media such as Face Book.
  • Dancing Divas website
  • Offering merchandise discounts for referrals

FINANCIAL ANALYSIS

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Start-up Costs

Ms. Jones and Ms. Johnson have secured a space to rent; however, it needs some renovations. The owners have spoken to a contractor who estimates that the renovations will cost $38,000 and will take four to six weeks to complete.

Estimated Start-up Costs
Building renovations $38,000
Legal fees $  5,000
Apparel/shoe inventory $10,000
Office furniture $  7,000
Business license $     250
Website design $     500
Initial advertising $     500
Insurance $  2,000
       Total $63,250


Estimated Start-up Costs Estimated Start-up Costs

Estimated Monthly Expenses

Monthly expenses are expected to remain constant each month.

Monthly Expenses
Rent $  1,500.00
Phone/Internet $     150.00
Advertising $     100.00
Insurance $     200.00
Wages instructors $  8,000.00
Wages student assistants $     800.00
       Total $10,750.00


Monthly Expenses Monthly Expenses

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Estimated Monthly Income

Estimated Tuition (September to May)
Class Monthly tuition Max students Max revenue
Mommy and Me 50 24 $  1,200.00
Baby Ballet 55 32 $  1,760.00
Hip Hop for Kids 55 24 $  1,320.00
Twinkle Toes 55 36 $  1,980.00
Totally Tweens 60 48 $  2,880.00
Intermediate Tap 55 24 $  1,320.00
Intermediate Ballet 55 24 $  1,320.00
Intermediate Jazz 55 24 $  1,320.00
Intermediate Hip Hop 55 12 $     660.00
Ballroom 65 12 $     780.00
Advanced Ballet 65 12 $     780.00
Modern Dance 60 24 $  1,440.00
Advanced Hip Hop 60 12 $     720.00
Private Instruction (appt only) 50/hr 4 $     800.00
       Total tuition (Sept–May)     $18,280.00


Estimated Tuition (September to May) Estimated Tuition (September to May)

Estimated Tuition (July - August)
Class Monthly tuition Max students Max revenue
Mommy and Me 50 24 $1,200.00
Baby Ballet 55 12 $   660.00
Twinkle Toes 55 12 $   660.00
Totally Tweens 60 24 $1,440.00
Hip Hop for Kids 55 24 $1,320.00
Intermediate Ballet 55 12 $   660.00
Advanced Ballet 65 12 $   780.00
Modern Dance 60 12 $   720.00
Ballroom 65 12 $   780.00
Private Instruction 50/hr 3 $   600.00
       Total tuition     $8,820.00


Estimated Tuition (July - August) Estimated Tuition (July - August)

Profit/Loss

According to estimated expenses and income data, the summer months show some profit loss, the greatest loss in June when no classes are in session. The estimated profits for the rest of the year are enough to make up for this loss as shown in the “Annual Profit/Loss” chart.


Monthly profitloss Monthly profit/loss

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Annual profitloss Annual profit/loss

Financing

Dancing Divas is currently seeking financing in the amount of $85,000. This would cover start-up and operating expenses for two months. Ms. Jones and Ms. Johnson are confident that they will be able to repay this loan in the second year of operation and have approximately $21,320 in cash at the end of the second year as illustrated in the “Repayment Plan” chart.


Repayment plan Repayment plan

Source Citation

Source Citation   

Gale Document Number: GALE|CX2716000016