Wednesday, 25 February 2009

Financial Management Systems For Martial Arts Business

As a school owner it is essential that you know exactly how your business is performing on a month by month business. Rather than ignoring this valuable information the successful school owner would know exactly how much income had been generated last month, how this income had been generated, how much expenses were paid and exactly how much should be provided for certain events.

Without recording your transactions on a regular basis it is impossible to know the above details with any certainty, and even harder to identify whether you are meeting or exceeding budgets.
Reports can be easily generated from accounting systems, providing you with information such as profit and loss accounts, various breakdowns of expenses, budget reports, and graphs detailing year to date performance.

In this article I am going to look at several different methods of keeping your bookkeeping records and provide honest feedback from an accountants point of view so that you can make an informed choice for your business.

To grade the different packages I am going to use the following criteria:
Cost there is no point purchasing enterprise-level software with a correspondingly high price tag for a small school!Ease of use again, there is no reason for purchasing software that is so complicated that it doesnt get used!

Reporting the standard of reporting provided from the system is vital for allowing you to monitor the progress of your business.

Manual Cashbook
Ratings: Cost: 4/5 (Approximately 10 20) Ease of use: 4/5

Reporting: 0/5
The manual cashbook has probably been used by all of you at some point the big red (or green) book provided by an accountant so that you can handwrite all of your payments and receipts at the end of the year.

Advantages: Low cost, relatively easy to use

Disadvantages: No reporting,each column has to be totaled manually

Excel Spreadsheets

Ratings: Cost: 5/5 (Free of charge)
Ease of use: 3/5
Reporting: 1/5

Excel spreadsheets are essentially a computerized version of the manual cashbook, available free of charge (provided that you have spreadsheet software).
Advantages: Excel analysis and summary tools, free of charge
Disadvantages: Reporting in Excel is complex, potential formula issues

Online Accounting

Ratings: Cost 5/5 (Free of charge)
Ease of use 4/5
Reporting 3/5

A secure online accounting tool provided by your accountant will provide you with the ease of use of a manual bookkeeping (with no manual totaling!) and basic reports found in comprehensive packages such as Profit and Loss, category breakdowns, graphs etc.

Advantages: Reporting, ease of use, free of charge, no software installation

Disadvantages: Ideally requires broadband connection

Quickbooks

Ratings: Cost 2/5 (Approximately 100 upwards)
Ease of use 3/5
Reporting 4/5

Quickbooks is a comprehensive package targeted at small business owners to assist them with the management of their financial affairs, offering various reports and functions.
Advantages: Detailed reporting, ease of use compared to Sage
Disadvantages:Cost, training requirements, ongoing updates

Sage Accounting

Ratings: Cost 2/5 (Approximately 129 upwards)
Ease of use 2/5
Reporting 5/5

Sage is an established accounting software providing comprehensive reporting and more functions than you will ever need, albeit with a steep learning curve.

Advantages:Detailed reporting, potential departmental / budget analysis

Disadvantages:Cost, learning curve, ongoing updates

If you feel that your system is not currently providing you with the reports that you feel would assist you in your business it would be worthwhile discussing this with your accountant to decide whether a change would be beneficial. For example, our firm provide online accountancy packages and tailor made Excel spreadsheets. We are also Sage Accountants Club members, and as such can advise all of our clients how to select and implement a package to suit their needs.

All information given above does not constitute advice. It is essential that you contact your accountant or tax advisor before acting on any of the information given below as they will have an in depth knowledge of your individual circumstances. No liability will be accepted by either the author or Dennis & Turnbull in relation to the information provided above.

Dennis & Turnbull Accountants.

Lee Mainprize is a martial arts business and marketing expert visit http://www.MAinstructor.com for martial arts teachers resources

Martial Arts Business Interviews - Family Run Schools

The business world is full of self-made prophecies that are seldom adhered too. ‘Don’t work with family’ - that’s one of them. ‘Be weary of mixing business with pleasure’; that’s another one. Married East Midlands couple Sean and Julie Hutton are guilty on both counts, but they really don’t seem to care. “We love working with each other,” they say, with a natural confidence that exudes not only pride in their work, but also great success.

Not that it hasn’t been hard work, of course. Like all successful start-up schools they had to overcome the pitfalls, like disenfranchised instructors and mentors that didn’t seem to follow their distinct family ethic. “That’s the reason why we left our original instructor,” Sean says, “we were pulling in different directions. For him it was all about getting in as much money within the first few months as he possibly could, and making them sign contracts that they couldn’t get out of. That’s not fair.” Such integrity spurred the couple on to go independent, and set up their own schools in their East Midlands home, with numbers increasing at such a rate that they currently operate three different schools in Loughborough, Coalville and Shepshed. Not bad for a couple who’ve only been teaching for four years, and have only been running their own organisation for a year and a half.

The couple run East Midlands Karate, but the name is slightly ambiguous, as the club doesn’t restrict itself to just the Japanese arts. “Our roots are in Taekwondo,” says Sean, “but we wanted to teach a more varied curriculum, so we’ve introduced elements of kickboxing, traditional Taekwondo, Ju Jitsu, and recently we’ve enrolled a Judo instructor.” Sean likes the aspect of creating the ‘well-rounded’ martial artist, fluent in all trades: “Taekwondo and Karate are very stand-up martial arts, but what happens when you go on the floor? With us we’re addressing that by learning Ju Jitsu and Judo as well, and its more fun,” a concept that certainly appeals to the many families that enrol in their schools.

By creating such a family-friendly atmosphere, the couple’s intention to ‘have fun’ is cemented by refusing to take the arts too seriously, preferring a less regimented style of teaching that young children can relate to - “less philosophy, more practical,” as Julie puts it. “We don’t teach the foreign languages,” says Sean, “there’s too many for a start!” he jokes, referring to their credentials as a multi-style school teaching martial arts from Japan, Korea and China. The couple love the fact that their organization appeals to so many families, with their students’ ages ranging from 5 to 60, with regular competitions and a demonstration team for the pupils to get involved in. Julie, particularly, feels that their work transcends the martial boundaries and has a positive social effect on the community. “We’re enhancing and developing children, teaching them courtesy, respect, and discipline,” she says, “I think that’s the qualities that our school brings to families in the community.” “We teach them leadership and communication skills, simple things like meeting and greeting people,” says Sean, on how their style of teaching is having a positive affect on the next generation.

“As a family school,” Sean adds, “we make sure that the parents get involved. Even if it’s just making them hold a shield or bag. They feel like they’re doing their bit, and the parent’s get a real buzz out of it. Once they get into it…” Sean pauses as Julie says “…they put their hand up again and again,” in that endearing way that married couples have of finishing each other’s sentences. This parental demand for more adult lessons has stemmed into a regular regime of quite varied classes for beginners and advanced, from adult self-defense to children’s fitness, with regular gradings and weapons training.

Such ethical, humble family values could only come from a couple that have a close-knit family of their own. Sean and Julie have been married for twenty years and have a son and a daughter. Not too surprisingly, both of their children are black belts. They even lead the demo team. “We go as a family, we train as a family, and we teach as a family,” says Sean, “yes, it’s work, but ultimately, we’re all together.” They know precisely how children behave and families react because they’ve been there themselves. Julie’s love for the martial arts was even given to her by a member of her own family, her young nephew, who first showed her the ways of the mat and since then she’s never looked back, coaxing the rest of her family to get involved, including her husband Sean. When the couple were heading towards their black belts, they were asked if they would like to run their former instructor’s satellite school.

They both enrolled in the same Instructor’s Career Course, and soon went independent and started doing things their own way. Worries concerning how to manage a viable business as a married couple have never entered their minds, after all, who could either of them trust any more than each other?

Julie calls herself a full-time martial artist. She takes care of the admin during the day, and teaches at night. Sean is just as multi-skilled, so the two are well balanced at switching roles. “To be successful you have to work as a team,” Julie says, “you have to both make sure that you’ve got the same qualities, to be able to meet and greet, to be able to enroll, and also to be able to teach. Because we did our training together we’re on the same wavelength, we know exactly the line in which we want our business to take.” This integral body of trust has made them a great asset to the pupils that train there, developing a great communication with the students who feel that they have become a part of the Hutton family philosophy. I ask them how the pupils respond to their teachers’ being married, to which Sean replies, “I think it works well. There’s a greater element of trust because you’re a family. People are more comfortable and relaxed knowing that it’s a family run school.”

But how does Sean feel about the widely held belief that teaching the martial arts is a predominantly male-dominated role? “That’s precisely what’s different about us,” he says, “with most couples it’s the guy who does the teaching and he gets his wife to help out doing administration. Here, we have the advantage that Julie is almost as good an instructor as I am!” Endearingly, they both laugh. “We can change roles,” he says, “it’s not a problem.”
Such flexibility in their teaching makes them quite a unique concept, and has made them particularly popular in the eyes of their officials, receiving sponsorship from their governing body, the UKASKO (the United Kingdom All Styles Karate Organization). The couple are keen to point out that the association don’t have any influence over their curriculum, and are utilized mostly when grading, and invitations to nationwide events, plus for insurance and licensing purposes. “We came to them as a ready-made package,” Sean says, “we needed a little bit of backup, to add some… what’s the word?” Julie interjects. “Clout?” Sean continues. “Yes, a little bit of clout, really.” UKASKO help to nationally recognize the achievements of those who obtain their black belts through Sean and Julie’s East Midlands Karate schools, but aside from their overseeing input, the couple are pretty much self-made, and have achieved all of this completely on their own.

“We do everything ourselves,” says Julie, “from the advertising, the promotion, the administration, the enrolling, the teaching, we do everything.” They are the epitome of hard work and hard graft, with a sincere, unselfish and solid family spirit. Just like The Waltons. They even get members of the family to take over when they’re away on holidays, someone that they can trust almost as explicably as each other, which must be a difficult prospect to measure up against. “We love working together, and because our children are involved, the two combine,” Julie says, “we find time during the day to train together, when the children are at school, then in the evenings we’re training anyway. We’re all into the martial arts so we’ve never found it a problem balancing work with pleasure. The kids have never suffered as a result of us working at night, because they also see it as a social thing as they’ve made so many friends at martial arts. They love it, its part of their lives because it’s all they’ve ever known.”

So who will take over when, and if, they ever stop teaching? The kids? “That’s a nice thought, but it’s entirely up to them. They’ve got to want to do it.” In the meantime, though, the couple are keen to look beyond their three East Midlands schools (which they refer to as just one school; the flexibility of teaching is such that if you miss one lesson in Loughborough, its easy to catch up in Coalville, or even Shepshed). They’re optimistic enough to see that as the club grows and more and more students decide to join, they will ultimately have to branch out and expand their business.

But where to next? “I don’t think we’ll leave the East Midlands,” Julie says assuredly, “you face further complications keeping hold of your administration if you go out too far.” After all, there are still a few major cities just up the road that the two haven’t yet ventured their business into, like Derby, Leicester, Burton and Nottingham. As Sean puts it, “there’s more than enough to keep us busy”. Julie doesn’t hold back on her long term plans, she tells me that they hope to eventually train up students who can run their own satellite schools under the family-patented East Midlands name, which sounds logical enough, but she insists that whoever they pass the mantel onto, they will have to meet the tried-and-tested Hutton family values. “That’s why we tend to do everything ourselves,” she says, “there are so many people who wouldn’t even consider working with their husband or wife. So we realize that who ever we put in these instructor positions in the future, they will have to be like minded and share the same values as us.”

These values encompass the edification of youth, through confidence-training, discipline and dedication, while promoting a fun, family-friendly atmosphere that enables the students to learn, develop and progress in a lively, easy-going environment. “We tend not to attract the real hardcore ‘fight school’ type students,” Sean admits, “we tend to attract families because we’re not that sort of hardcore martial arts school.” This isn’t offering them a disservice, as their many pupils are clearly happy with how Sean and Julie manage to balance things. As someone who has worked with children all her life, Julie sees her teaching as more of an important step in the development of youth, whether they’re learning ‘hardcore’ martial arts or not.

And what advice would they offer to any budding young enthusiast who wants to settle down and start up their own business? “It depends on their own background of teaching and what support they’ve had from their instructor,” says Julie, “but if anyone has the desire to do what we’ve done, I think it’s a gut feeling that you get that you just have to take. As long as you work together, and you can trust each other, and make sure that you share everything to balance out the pressure.” Judging from the sought-after business that the couple have managed to achieve, and in such a short space of time, those who claim that working with family doesn’t work would do well to take a leaf out of Sean and Julie’s book. After all, they’ve pretty much rewritten the rules.

Lee Mainprize is a martial arts business and marketing expert visit http://www.MAinstructor.com for martial arts teachers and instructors resource

Wednesday, 27 August 2008

Back To School Marketing

Hosting an Open House is one of the easiest and most cost-effective ways to generate large amounts of traffic and potential new students into your school. So many school owners proclaim theyve tried hosting an Open House only to have failed to sign up new members. With the right plan, an organized staff and a step-by-step enrollment process, you are guaranteed to enroll the guests that attend your special event.

Back-to-school preparations always represent a time for new beginnings in many households. Moms and Dads are preparing for the changes in their schedules and daily routines. Why not educate your community on the many classes and programs you offer by hosting a Back-to-School Open House August and September are always exciting months for new student enrollments. Why not double your enrollment this year by inviting your community into your studio.

Many martial arts school owners strive to build a strong reputation both within their neighborhoods and their public-school systems. The easiest way to open your doors to the members of your community who might not otherwise pursue a martial arts program is to invite them in! One of the hidden keys to hosting a successful Open House is to offer short, free seminars that appeal to everyones universal needs.

If your local school system has been difficult to penetrate in the past, why not align yourself with organizations that support the students of your community Anti-drug and advocacy groups are always eager to obtain new partners in the community that will help them in their pursuit to educate the youth population. Hosting a Back-to-School Open House could enable you to demonstrate how the martial arts, in conjunction with drug and crime prevention, help influence kids to stay on track.

Is there a parent you know who wouldnt want his/her child to attend a Child Safety and Awareness course, given the opportunity What about Jane, a 32-year-old mother of two who has been curious about womens self defense Would the likelihood of Jane witnessing a self-defense demonstration, and seeing a mom, just like her, successfully perform a self-defense technique entice her to participate in a free hands-on workshop You better believe it!
Once you've chosen the mini-seminars you wish to host during your Open House, it's time to prepare your staff. Many school owners and operators arent quite sure how to transform prospects into new members. The answer is simple. Train your staff to greet with a smile, and ask the right questions. Learning to listen for the want, need or pain someone is trying to communicate is the key to enrolling new students. Until your staff realizes the importance of understanding the answer they receive, you're losing valuable information.

The goal and purpose of your Back-to-School Open House is no different than the first introductory lesson you teach to a prospective new student. Communicating the benefits your martial arts, fitness kickboxing or womens self-defense program provides is what links you to that universal need we all share.

Every step you take in order to plan and organize your Open House needs to be congruent with the goal you wish to achieve. Establishing rapport, discovering the wants and needs of your guests, and demonstrating the safety and comfort of your schools training environment are the key ingredients to converting a roomful of guests into new members.

By offering community-interest workshops free to the public, you will bring traffic into your school. Once the highway is full, it's time to direct that traffic into the programs you offer that would best serve their needs! You have many income-generating options at this point! You can either lead guests from your Open House to enroll in an ongoing series of paid seminars that would create additional income each month into your school, or to your Introductory Program and then on to become a member!

A common mistake made by many eager school operators is the desire to sign-up every guest that walks through the door the day of their Open House. Whereas it is impossible to enroll every prospect in one afternoon, it is possible to schedule follow-up free lessons, full-length seminars, and appointments to attend class the days following your special event.

Friday, 22 February 2008

Why 90% of Martial Arts Instructors Are Not Succeeding In Business

With 90% of martial arts instructors failing in business within three years, we cover some of the most common reasons below why martial arts instructors fail in business.

The Institute of Martial Arts Professionals (IMAP) have created an online solution to provide martial arts teachers with the most powerful martial arts business knowledge and marketing strategies to ensure they succeed in business.

New York, NY (PRWEB) February 22, 2008 -- With 90% of martial arts instructors failing in business within three years, we cover some of the most common reasons below why martial arts instructors fail in business.

The majority of martial arts instructors running their schools as businesses have done so not because of recognising a business opportunity but because the passion for the art has pushed them into it, so to speak. This is great, but it also puts people into running their own business who ordinarily wouldn't run another type of business. Its what Michael Gerber calls the E Myth.
They are not prepared to invest in their future, successful martial arts instructors finds the money for the seminar, those resources, those DVDs because they recognise the importance this new information and motivation has on themselves and the future development and growth of their business.

They invest and expect too much and go to a seminar and expect to get an idea that will get them 100 new students. With our resource you only need one idea per year and the membership pays for itself.

They are not committed to succeeding and lack the personal attributes required to run a successful school and profitable martial arts business. They don't think about their business often enough and only put enough time in to get by. The unsuccessful martial arts teachers talk a lot about what they are going to do but never takes action on those ideas.

They let setbacks affect them too easily and lack the perseverance required to overcome obstacles to succeed. They have a short term mentality and think the reason they are not successful is because of reasons outside of themselves and don't take responsibility for their situation, this prevents them from doing something about it.

They are not prepared to listen to good advice and give reasons why it won't work for them. They get good advice from someone who has been their and done it and ignore it!. The easiest thing in the world is to copy someone successful, to achieve similar results.

Some martial arts teachers are trapped in tradition and fear change, they do things because that's what they have always done but never question why am I doing it, whats the benefit And they expect to get a different result from doing the same things they have always done!
They cant keep students or manage their finances. The school never grows because their school is not systemized and structured enough to make it easy for students to continue training at their school. Not enough focus is put into student progress and making the lessons upbeat and exciting.

They have no budget in place and overspend money they haven't got because they lack the discipline required to sit down and put something on paper to manage what comes in and what goes out each month and then save for their tax bill.

We all have a great opportunity to make a fine and honourable living from something that makes a worthy contribution to society. Take the attitude "if its up to me then so it shall be"

IMAP provides leading edge martial arts business, marketing and growth strategies for martial arts teachers and instructors starting or running martial arts schools. For more please visit http://www.mainstructor.com

article can be found http://www.prweb.com/releases/2008/02/prweb711804.htm

Monday, 11 February 2008

Martial Arts Drills

It is easy to understand that a high student retention rate is the result of exciting and progessive classes. The use of different martial arts drills and classroom topics are the bread and butter of any successful martial arts instructor. Here is one for you to try out on your students. You can access tons more as part of our membership based site.

Thursday, 31 January 2008

Martial Arts Teachers - Getting The Best From Your Martial Arts Students

In order for your students to get the most out of their Martial Arts Training, they have to want to give their all during every class. Remember: we have to encourage each student to be his or her best and to reach their potential with realistic goals and lots of encouragement. Here are several techniques and principles that will help you as a martial arts teacher get the most from your students.

Public Praise Private Reprimand. If you goal is to ruin someones day and lower their self image, the fastest way to do that is to publicly humiliate them. Any kind of reprimand or disciplinary action should be given quietly and privately, away from the attention of others. It is said Love the sinner, hate the sin. Reprimand the students actions, not the students personally.

Tell them what you want them to do, not what you don't want them to do. It is impossible to concentrate on the negative of an idea. If I tell a cricket batsman not to get out, the first thing he thinks about is getting out; he thinks about not doing it second. It would be much more valuable to tell him to hit the ball. Pay attention could be replaced with are you with me or does that make sense. By the same token, instead of telling students what they WONT get if they mess up, tell them what they WILL get if they behave. If you are not sitting straight, you won't get a turn, can be replaced with as long as you sit straight, you will be sure to get a turn

Set realistic goals, followed constant feedback. Students need to have a clear image of where they are going. It is important that each student sets specific goals. The instructors job is to help set these goals. Remember, each student has different strengths and weaknesses that should be taken into account. Feedback is the breakfast of champions. Once a goal has been set, constant feedback should be given to help keep each student on target.

Martial Arts Teachers - Disguising Repitition

Repetition is the mother of all skill.

We all know that without repeating techniques over and over again they will never be learnt and never practical. However, if you do the same drill over and over again in the same way it becomes monotonous and boring. The best martial arts teachers find a way to do the same things over and over, but in a different fashion. The number of ways of doing a particular technique are plentiful. The only limitation of the number is the imagination of the instructor. When thinking of your own drills consider the following points:

i. Is there any skill area that I wish to concentrate on For example, speed, reaction, strength, etc.

ii. What training aids are available Focus pads, shields, foam swords, Bob.

iii. How many students are there How do I divide them up Working separately, in pairs, in groups.

Tuesday, 29 January 2008

Martial Arts Business Marketing on Squidoo

Martail Arts Teachers on Squidoo

Squidoo is one of the latest Web 2.0 properties, very popular among the Internet users and has some very powerful user interaction elements. We have a lens on Squidoo titled “Martial arts business marketing association“.

We invite you to visit our lens and post your comments in the guestbook, telling us about your experience with our powerful resource.

posted by martial arts teachers association

Thursday, 17 January 2008

Martial Arts Marketing - Trial Pass Strategy

This is a martial arts marketing VIP or trial pass strategy with a difference! Heres how it works; you enter a beginner introductory lesson date and time on the passes, you distribute as many as you can. You then hold a mass introductory/beginner lesson.

I work this strategy for 3 months a year and typically enrol between 6-12 people every group introductory class.This strategy works well as it attracts people to come along that may not act on a normal trial pass where they have to make the effort to phone and make an appointment. With this strategy they don't have to set an appointment time which causes people to take action and come along with little pressure, this will get those people who have been thinking about it for a while to get started!

Action Plan

1. Decide how often you will hold these mass introductory lessons - monthly, bi weekly or weekly

2. Have each team member fill out 100 passes with dates and times

3. Each team member is to distribute 100 each week

On shop counters
To business employees and their family members
Schools via a school talk
Other groups football, scouts, etc
Large business wage packets
To your existing students to pass to friends and family
Brain storm other great places with your team

4. Hold a 30 minute beginner introductory lesson

Go through what everyones role is and ensure they understand i.e. greeting people as they come in, developing rapport, handing out student questionnaires, collecting joining fees, completing student agreement, booking in first full lesson etc.

Take action and you will boost your martial arts business.

Martial Arts Instructors - Dead End Time Slots

Do you have a professional martial arts centre and or a dead end time slot in your timetable that you just cant seem to get going.

Heres what I did with my dead end slot, it was early Friday evenings:

I decided I was going to fill this dead space and generate some extra income from my martial arts business.

I reduced the price of this class by around 40% of the normal price of my beginner twice a week programme. The class was available to any age. Students could only come to this one class! I also offered this class to under privileged children too for free.

We got on the phone to all missed sales and told them about this new class and starting making appointments within 4 weeks we had around 20 people in the class, generating over 600 per month.

We also found that people who joined this class actually upgraded to the regular twice a week programme once they got into it. New sales conversations went up by over 10% by offering this budget class, we never presented this programme unless price was mentioned as an issue by the potential student, after all you offer a cheaper alternative initially and most people will take this option. We also got some great press by offering the class to under privileged children free.

Martial Arts Staff Training

Staff Training is one of the most important areas for any school owner who has staff. You cannot expect them to succeed or be motivated if they are not given the correct tools to do so. Ideally you want your staff training lesson 1-2 times per week you can incorporate your weekly meeting to these sessions.

We are all much more enthusiastic and excited when we are learning so don't stop treating your instructors as studentscontinue to teach and develop their skills so they can succeed in their careers and help you run a highly successful school. Just like yourstudents lessons are planned do the same for your instructors here are some ideas.

20 Minutes Reviewing Statistics and Goals
20 Minutes Martial Arts Business - Roleplaying Skills
60-90 Minutes Martial Arts Training

Keep these sessions disciplined and promote constant never ending improvement as your schools philosophy, encourage reflection and self review of performance for all your staff to develop awareness.

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