You’ve embraced the digital revolution to make your personal life easier. If you’re like most people, you’re scheduling personal appointments and paying bills online. Now it’s time to embrace everything the digital revolution can offer your dance studio business by using a dance studio management software solution. It will be life-changing.
Improve your cash flow
There’s a reason why “cash flow” and “blood flow” are analogous. Without a healthy cash flow running through your studio, you’re stressed and missing opportunities to grow your business. A dance studio software package improves your cash flow in four main ways:
- No more paper checks. The dance studio software will enable electronic payment processing, and will allow you to accept both credit cards and direct bank transfers, so parents have options. No more collecting checks that sit around until you make a bank run.
- Now that you can accept electronic payments, you can set up automatic payments with parents. Once a parent is set up, you can quickly and easily process payments each month with a couple of simple steps and the payments for their children’s classes are covered. No more chasing down parents to pay their monthly fees. Once you’ve processed them, they’re already in your account.
- If a parent is late making a payment, you can quickly send a follow-up email. If an automatic payment didn’t go through, you can quickly process the payment again and send notification of the issue to your parents. “Through direct emails to parents, and notifications to you, you are in direct control of how money that is owed to you past a due date is managed.”
- Parents can make their payments to your studio online, just like they pay any other bill. Parents can still pay for tuition, costumes, recital fees, and more via the parent’s portal with the payment method they have on file. Even if a family choses not to have you process their credit cards automatically each month, they can still pay online through the parent portal. They just have to go in each month to pay their class balances. It’s easier for the parents and it still gets you the money faster than asking for a check.
Learn how to calculate the ROI you can expect with a dance studio management software by downloading our eBook.
Reduce your admin costs
Where cash flow is one side of the coin on improved financial health, cutting unnecessary admin costs is the other side. Think of all the hours you spend managing staff schedules, collecting parent registration information, and keeping track of which students are enrolled in which classes. If you’re not spending the time doing this, you’re spending money for someone else to do it. Either way, without a dance studio management solution, you’re paying way too much to handle all these admin tasks.
Dance studio management software provides online registration, staff scheduling and payroll, and class enrollment. With parents entering their own information directly into your system, you have a single source, rather than having multiple excel sheets with conflicting details for the same family. Automated tools help you manage staff schedules, significantly reducing the time you spend on employee scheduling each week. Parents can enroll themselves in the classes online, removing that task from you and your staff.
Gives you time and tools to market your dance studio
Now that you’ve freed up your time from doing admin tasks, you can invest that time in growing your business. A comprehensive dance studio software solution will include marketing tools that let you market to your email list of prospective families of students. You can email them about recitals, special promotions, or share information that reinforces your expertise.
Improved customer service that inspires client loyalty
While you always want to market for new students, you have to take care of your current community of families. Make things easy on the parents by giving them an online parent portal through which they can manage all their dance studio needs. They will know where to go to manage their kids’ classes, check in on their kids’ progress through skills tracking, and make payments. Since the parent portal is available 24/7, they can manage it all on their own time – and without needing your time to get their stuff done. The parent portal also provides an online calendar to help parents visualize the upcoming schedule of events.
A parent portal is also an effective way to push out studio-wide communications about essential deadlines or other notices. Excellent communication is the foundation of exceptional customer service. The more communication options your management software provides, the better. If there are last minute emergencies, you can push out group text messages that something’s been canceled, or time has changed. Group emails can push out less time-sensitive information.
Understand the state of your business
It’s so easy to get trapped in the day-to-day details that you lose sight of how your dance studio is doing as a business. If you don’t have a clear understanding of the strengths and weaknesses of your dance studio’s operations, you can’t improve them.
Since all the most important information about your operations, and your students, is held in the same system, it can provide dashboards and reports that help you manage your business. For example, it can provide trend analysis on class enrollments and attendance. Are there specific periods where absences peak? Which teachers have stronger enrollment numbers? You’ll be amazed what the numbers can teach you about your business.
You’re losing money without a dance studio management software solution
Businesses have many variables to manage. Few people can run a profitable, cost-efficient business without professional management. Especially if you’re a new studio owner just starting out, hiring a business manager can be costly. But with a dance studio management solution in place, you’re taking a big step forward to operating a well-run and organized business without breaking the bank or monopolizing your time.