(add things in the comments if you think of things I haven't thought of)
🔲 Release an official statement as studio director, acknowledging the crisis, and communicating to parents what changes you are implementing to help prevent spread of germs in the studio.
🔲 Be clear about when students should stay home, what "make-up class" policies you have, and what your procedure will be for if some students pull out temporarily.
🔲 Stock up on sanitary essentials, even if it means purchasing online or finding alternative suppliers.
🔲 Put hand sanitiser at the front desk, and in the rooms.
🔲 Put up posters reminding students to wash their hands, cover their coughs etc.
🔲 Begin strategizing for the potential situation that we may have to close our doors for a while. Consider what you would do regarding billing, what alternative services you could provide, and how much cash you would need to cover upcoming bills. Also look into the legal responsibilities for paying your staff - depending on if they are casual, full-time, permanent part time etc. (your accountant should be able to help you with this).
🔲 Implement temporary policy changes (eg. no hand held props in pre-school classes, centre-work only in Ballet).