Karen Levitz Vactor

Starting and Running Your Own Martial Arts School


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204 The Opportunities 205 Organize Your Shop as a Profit Center 206 Who Are Your Customers? 207 Take Care of the Red Tape 209 How Much Working Capital Do You Need for Inventory? 211 Planning and Record Keeping 214 Getting the Right Products from the Right Place 214 The Basics of Pricing, Costs, and Profits 217 Tracking Inventory 226 Creating an Effective Display 232 Getting Fixtures 233 Laying Out a Shop 234 Day-to-Day Management 234 Ordering 235 Receiving 235 Advertising 235 Sales and Customer Service 238 Markdowns 241 Reordering 241 Starting Small and Building 242 CHAPTER FIFTEEN: T ROUBLESHOOT PROBLEMS 244 Step One: Check Your Goals 244 Step Two: Compile and Review Relevant Statistics 245 What Growth Rate Do You Need? 245 Calculate Your Enrollment Goal 246 Minimum Required Statistics 246 Step Three: Pinpoint and Solve Problems 247 Drop-Out and Attendance Problems 248 Drop-In Problems 253 Closing Problems 254 Payment Problems 255 Per-Student Income Problems 257 GLOSSARY OF BUSINESS TERMS 263 INDEX 285

      ACKNOWLEDGMENTS

      Many people have touched our lives and helped us grow in knowledge and spirit along the way. Some are close friends, others just passed through our lives leaving a significant impression behind.

      Some of these people have been specifically helpful to this project, and we wish to thank them here.

      We both would like to thank our husbands, Drew Vactor and Gary Peterson. Drew’s business insights and editing help were invaluable in the final stage of the project. His willingness to put off work on his own book allowed us the time we needed to finish ours. Gary’s flexibility makes a writer’s life possible. And his suggestions for the source of the title were, if not plausible, at least a source of much-needed comic relief. Their patience, good humor, and support made it possible for us to complete this book.

      We appreciate the support and encouragement we received from Hanshi George Anderson, Shihan Johnny Linebarger, Shihan Patrick Hickey, Shihan Pam Hickey, Sensei Lend McCaster, Sensei Thomas Linebarger, Sr., Sensei Melvin Dilts, and Sensei Judith Robinson.

      Karen especially wants to thank her father, Sam Levitz, pioneer of the warehouse-showroom style of selling furniture, who introduced her to the wonderful world of retail at a young age. He taught her patiently and well, generously sharing his insight along with his fatherly wisdom. A warm thank you to her mother, Lee Levitz, who instilled in her a sense of wonder and adventurism that guides her daily, and who taught her to always believe in herself.

      Susan especially wants to thank the writers of the CompuServe Writers Forum. Their insights on everything from semicolons to publishing contracts, book titles to creative health have been invaluable. She also wants to thank her parents, Donald and Shirley Johnson, for their continued support.

      Our thanks also to:

       Bette Martin, our photographer and good friend. Donald C. Brandenburgh, our literary agent. Charlotte Wood, owner of Talking Book World, Tucson, for her insights into the SBA loan process. Melinda Williams for her insights into balance sheets and accounting. Dayna Macy of Nolo Press, and Ardella Ramey of Oasis Press, who provided research materials.

      HOW TO USE THIS BOOK

      Who Is This Book For?

      Do you dream of opening your own martial arts school some day? Are you now in the process of planning and building a school? Do you have a school but struggle to run it efficiently and pay the bills? Do you have a successful school but want to learn ways of streamlining day-to-day management so you can spend more time training and having fun?

      Then Starting and Running Your Own Martial Arts School is for you.

      Starting and Running Your Own Martial Arts School is for experienced martial artists who dream about owning a successful school. It’s a thorough, practical introduction to the tasks and obligations involved in opening a martial arts business. Written in language that doesn’t take a business degree to understand, Starting and Running Your Own Martial Arts School shows martial artists what they can do to ensure the success of their school before they put their hard-earned cash and reputation on the line.

      Starting and Running Your Own Martial Arts School also offers guidance for martial artists opening a new school. It provides step-by-step information on what to do, when to do it, and why. Based on years of practical experience, Starting and Running