I'm not embarrassed to admit that there have been many times as a business owner that I have needed some cash flow FAST, and have had to find ways to get a bit of instant money. Here's a few ways, that have worked for me.
THE QUICK DISCOUNT Offering 5% off fees if paid early. Sometimes I'll make it be a cash-only offer. It's not great business sense long-term, but I have used it to get me out of a bind or two.
THE NEW (or "special offer") ITEM Last week I launched a new uniform item, which was a hoodie jumper. I said orders for the first batch had to be in by the end of the week, and we did pre-orders through Shopify (you could use Trybooking or any online shop service... or just do it at the studio). I sold around 50 of them in the week, and each one at a $32 mark up. $1600 profit in a week. Scarcity or limited time offer helps to speed up sales for this type of thing.
THE UNMISSABLE WORKSHOP Secure a guest teacher for a Sunday afternoon two weeks from now - someone you've never had in before... post a bunch of videos on your studio Facebook group showing how amazing they are... then do a Facebook LIVE video telling everyone that you're soooooo excited this person is coming to teach and that spots are limited and bookings are online only and first in best dressed... then keep hyping it each day with a new video of the choreographer's work, or even just a photo of them with a countdown... the hype makes it the unmissable event of the year... and the tickets will sell. Could easily be a quick thousand profit!
THE CHRISTMAS VOUCHER Need some money pre-Christmas and fast? Sell gift vouchers for uniforms, shoes and dancewear at 10% OFF. Parents love to put them in their kids' stockings and for them it makes sense to buy because they are saving themselves money in the future. Sell them at concert in the foyer and you'll get some grandparents buying them.
THE "WHO WANTS A NEW SOLO ROUTINE?" I don't know about you, but the soloists at my studio are always desperate for a new routine. I've been known to (every now and then) offer 4-hour private lesson blocks in the holidays or over a weekend, so that soloists can get a whole new routine. Not everyone, but some parents are in a position to pay the $280 for it in one go.
THE STOREROOM CLEAR OUT 3 hours on a Sunday morning at the studio, going through old costumes, props, supplies, store rooms etc. and I have no doubt that any one of us would be able find at least a few hundred dollars worth of stuff to sell instantly on Facebook. Remember, the better the photo you take of it, the better it will sell.
22 Seen by 74 LikeComment