Ever had a close call in your martial arts business? That you'll need to close doors? That was Bob King not too long ago. Here's how he turned it around.
.IN THIS EPISODE, YOU WILL LEARN:
How to grow your student base through Facebook advertising
Why key conversion elements are essential for martial arts websites
The power of having a business mentor to guide you through your journey
How does the Academy program compare to other Martial Arts Business Coaching programs
*Need help growing your martial arts school? Learn More Here.
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Well, it's certainly gotten rid of that big dark cloud hanging over me, and I can see that if we continue the way we are at the very least, even if we didn't grow any further than what we are at the moment, we are now financially viable, and I'm actually putting money back in the bank account.
GEORGE: Good day, this is George Fourie, and I'm joined today by one of our Academy members, Bob King. How are you doing today, Bob?
BOB: Good, thanks George. How are you?
GEORGE: Pretty good. Pretty good. Thanks for jumping on.
So we're just going to have a quick chat just about Bob and his school and working together with our Academy program, and a couple of results and things that came up.
So thanks again for jumping on, Bob. If you don't mind, just share with us a couple of minutes, a bit of background about you. Who do you teach, a bit about your school, etc.
BOB: Okay, so I'm a member of the Koryu Uchinadi Kenpo Jutsu school. Hanshi Patrick McCarthy is the head of our school. We teach old-style, predominantly karate, but also jiui jitsu and weapons.
I've been doing martial arts for nearly 50 years, been teaching for probably 35 years. Predominantly ran schools out of school halls and community centres and that sort of thing. It was about seven or eight years ago, we had enough numbers to go into full-time premises that became available in the area where I teach. It progressed from there. Just started teaching full-time, probably five, six days a week with different classes on most days.
GEORGE: Alright, awesome. Okay, so we recently started working together and what I want to sort of getting down to, before we got to that point, what problems were you facing and what were you hoping to achieve through the program?
BOB: Well, the biggest problem that we had was our numbers had declined. When we first opened, we had good numbers. The bank account was looking healthy. The building we were in, we occupied two-thirds of it. Third of it was occupied by a funeral director who parked his hearse in it. That extra area became available and we decided to take it on. We were offered the lease on it to expand, and we took it on because we were concerned who might move in and cause us problems.
And we thought also with the extra area, we could make some improvements to our facility and that would hopefully increase numbers further. Failed to materialize. Once we'd gone into the bigger area, our rent went up but our numbers started to decline, and we got to the point where, probably for 18 months, I was losing money. We were going out the back door.
Just prior to joining your Academy program, we were at the point of we either had to do something and turn it around and actually start making the club profitable, or I was going to close down.
GEORGE: All right. Okay, so just a bit more on that. So was there anything else that was the impact that was having on the business and the situation of the students declining, etc?
BOB: Well, as I said, the bank account. After having a healthy bank account, it was slowly going backwards. I think probably over a two year period, I lost probably close to $13,000 out of my account. Obviously, I wasn't earning any income at all. In fact, it was costing me money. I also work as a personal trainer and a massage therapist, so I was basically subsidizing the dojo with t…