Karen Levitz Vactor

Starting and Running Your Own Martial Arts School


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26 Assemble Your Team of Advisors 26 Accountant 27 Attorney 28 Banker 28 Other Consultants 29 Set Up the Legal Form of Your Business 31 Put Together a Professional Business Plan 33 Why Put Together a Business Plan? 33 The Layer Approach 34 Anatomy of a Business Plan 36 Double-Check Your Plan 36 CHAPTER FOUR: FIND A LOCATION THAT WILL WORK FOR YOU 38 Find a Space That Will Work for You 38 Choose a Good Location 38 Find a Real Estate Agent 41 Choose the Best Space 41 Figure Out How Much It Will Cost You 43 Negotiate a Lease You Can Live With 45 Basic Negotiation Principles 46 Plateau-Level Bargaining 49 What Is a “Fair” Contract? 49 Hazards to Avoid in the Contract 50 Lay Out Your School 51 Plan Your Space 51 Comply with the ADA 54 Comply with Your Lease 54 Convey Your Image 55 CHAPTER FIVE: TAKE CARE OF RED TAPE 56 Investigate Government Requirements 56 City and County Requirements 57 State Requirements 57 Federal Requirements 57 Ferret Out Information 58 Register Your School’s Name 59 Place Your Order with the Printer 59 Select Insurance 59 Property Insurance 60 Personal Property Insurance 60 Business Interruption Insurance 60 Medical Liability Insurance 61 General Liability Insurance 61 Other Insurance 61 Unemployment Insurance 62 Workers’ Compensation Insurance 63 CHAPTER SIX: GET READY TO TAKE IN STUDENTS 64 Set Up a Fee Schedule 64 Set Up a Contract That Protects Your Interests 68 Contract Contents 68 Release Statements 69 Photo Release Statements 71 Make It Legal 71 Take Credit Cards 71 Select Training Equipment 73 Hire Employees 73 Wages and Taxes 73 Who Do You Hire? 74 General Guidelines 74 Prepare for Emergencies 75 CHAPTER