Hitting that 7-figure mark is like announcing your membership to the official ‘I’ve Made It’ club on a megaphone.
In this episode, I’m letting you in on a little secret.
The real magic’s in your profit margins.
And, that million dollar mark?
It’s a vanity metric.
As we go into this episode, here’s one thing I want you to think about,
How much money do you want to make? And, how hard do you want to work for it?
Think comfortable income, working just a few hours a week, and oodles of time to spend with your family.
This week, we’re getting up close and personal with studios that are banking serious profit without breaking their backs trying to close in on a million dollars, talking about the shifts and changes you can make to maximize your profit margins, and the biggest red flags that tell you that your business model needs a serious re-evaluation.
If you dream of hustling smart instead of hustling hard, this is the episode for you.
In this episode you’ll learn:
- Why the million dollar mark may not be the best metric to celebrate
- What studios with over 50% profit margin look like
- How ancillary services can turn your studio into a profit goldmine
- Why the number of clients shouldn’t be the main measure of success for your studio
- The only thing clients care about (Hint: It’s not your lineage)
- How to calculate the appropriate pay for your teachers, red flags to look for and a whole lot more!
With grit and gratitude,