That’s my concern: I’ll leave this business and spend the next three years starting over on a new venture, only to run into a different set of (just as draining) problems…
If this feeling of dread is just part of owning a business, I’ll put up with it! However, I don’t want to waste my time on a company I not only dislike but also isn’t highly profitable if I could be doing something more fulfilling elsewhere.
The average studio is run by “creatives” who don’t know how (or don’t want) to scale a business to that size; however, I’m networking and taking advice from the mega-studios with over 1,000 students.
If I could build my business to have thousands of students, full-time employees, and place myself as a CEO, I’d be thrilled running the company! These large studio owners I know pay themselves 300K to 1M per year.
My dilemma is that the average dance studio never reaches that type of success. Is it the people running most dance studios (creatives), or are most dance studios just not profitable?