For some people, dance is a hobby, while it is a career for others. Everybody can dance in their unique style. Dance has grown into a magnificent method of expression today. Dance provides a wide range of possibilities. It enables kids to acquire essential life skills, such as creativity, expressive ability, etc. Dance provides physical advantages such as increased body balance and coordination. Also, dance encourages people to have a healthy and active lifestyle. Let’s check out how to start a dance studio business in India below.
How to start Dance studio business in India
Registration of the Dance studio as an organization
The applicant must register their dancing studio as a company or organization. There are two ways to acquire a license for setting up a dance studio in India.
Through online method
- In the online method, the person applying for dance school should set a name for his organization.
- After setting up the name he/she has to make sure that the name is available for his business registration.
- If the name is already registered he/she must try a different name pattern.
- After the name is set successfully the person can fill out the form for applying to his business.
- After the application is submitted successfully the person should register with the registrar of companies
Through the Chartered Accountant method
- When registering a business, check if the intended name has ever been used and then submit for registration.
- A digital signature certificate by the prospective firm’s director must be obtained.
- After that, get a Director Identification Number (DIN).
- Filling out an e-Form or registering as a new user will be done after getting the DIN.
- Finally, the company’s incorporation is completed.
- The applicant will receive a letter of acceptance as well as an MOA certificate.
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Setting up a business bank account that you need to run your business
When the individual and corporate accounts are combined, you might risk losing your assets if your company is at risk. So, the following steps are to be followed while setting up a new business.
- A bank account for the business
- A professional should be recruited to keep track of all of the revenue and spending
- Paying taxes, either by yourself or hiring a tax professional
- A business email id as well as a phone number
- To manage the firm, you’ll need the necessary equipment and software
- Online payments, enabling convenient and quick fee payments to students
Costs involved in setting up a dance school
- When purchasing or leasing a smaller, less expensive company space in a less populous section of town, the expenditures are lower.
- Rather than building or buying a new studio, lease and renovate an existing business space.
- By purchasing a brand new studio.
We can get started to set up a dance studio for significantly less cost from the first two ways. However, setting up a brand new dance studio is very expensive and not affordable for everyone. A building needs a significant financial commitment, and the structure’s tax and mortgages should be factored into the total construction expenses.
A studio should also have a reserve budget set aside if the facility requires emergency repairs. The cost of a facility and insurance are the two most significant expenditures involved with a dance studio. A dance school should have comprehensive liability coverage that protects all students, trainers, visitors, and events held there in terms of the insurance.
License required for setting up a dance studio
- The Certificate of Occupancy and an Incorporation Certificate.
- You’ll also need to form a legal corporation for your dance studio, enroll with IRS to follow local zoning restrictions, & pay taxes every year.
- Under the Copyright Act, you must get a music permit from ‘Phonographic Performance Limited,’ otherwise, your Dance Studio will not be able to operate.
Documents required for setting up the dance studio as an organization
- The Business PAN Card as confirmation of identity
- One proof of address
- Documentation confirming payment of the fee
- Articles of Association and Memorandum
- Form 18
- Form 32 and Form 29
- Letter from the Registrar of Companies releasing names
- NOC from directors
- Aadhaar card
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Deciding a perfect location for setting up the dance studio
- The number of square feet
- The room’s configuration
- Businesses in the area chosen by us
- Distance from the competitors
- Nearby Landmark
Determine your market segment and desired clients
Segmenting your target group into accessible groups is known as market segmentation. Market segmentation divides a market into subgroups based on demographics, requirements, priorities, mutual trust, and other personality or behavioral characteristics that help identify the strategies. With dancing studios, you may enter several categories, each of which will attract a specific audience. But, first, you must determine what yours would be. Some of the market segments of a dance studio are:
- Only a few dancing styles are offered
- Dance genres that are commonly seen
- Dance classes for kids
- Styles of ethnic dance
- Dance classes for couples
- Dance classes for singles
Business plan for the successful operation of the Dance studio
Goals and strategies
The strategic business plan objectives provide these specifics of an organization’s expectations for attaining its defined goals. While targets are broad, agendas must be specific enough that two individual spectators can determine if the organization has reached its aim after the plan is implemented.
What kinds of dances, music, or instruments your organization will provide to its clients. Do you have any plans to add any additional services in the future? What is the estimated cost of the investment? What kind of investment have you already made? What portion of it will you get from an investor? These points are to be considered for planning Investments and Services.
Analysis of the industry trends
What is the market’s present state? Are there any regional studies that can determine the number of people interested in participating in this kind of dance class in the city? These are to be examined for understanding the market trends.
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Future forecasts for market segmentation technology
What are the market’s prospects for the future? Is there any study or analysis that can help us figure this out? These are the scenarios to be considered while thinking about the future scope.
Procedures for operation
This part of the Business Strategy will focus on the academy’s day-to-day operations, such as recruiting practices, reporting times, and training procedures.
Planning vision and mission statements of the organization
The reason for an organization’s existence and how it serves its consumers This might include a description of the business, what it does, and its goals. The vision of the organization is nothing but describing the reason for the existence of the organization.
Choose the services you are going to provide to the clients
This will be influenced mainly by your customer segment, so keep that in mind when you decide.
- What about classes for couples? Classes for singles? Both?
- What dance styles do you intend to teach?
- Will you be providing group dancing lessons? Do you want to take private dancing lessons? Both?
- Will you be competing with a dance team?
Creating the price structure for the services provided
For an exemplary operation of the organization, you’ll need to generate money from your dancing courses, so measure the benefits against the costs. We need to understand what our target clients are willing to spend. You don’t charge the prices they can’t afford. Make a reasonable estimate of your monthly costs and make sure you can go to the minimum match even. Losing money in your firm will eventually force you to close it down.
Advertising and marketing
Advertising and marketing are the backbones of a business since they expose your services to a vast number of people, resulting in a more extensive client base and, as a result, more money. To begin, your marketing plan may be as easy as ensuring that every client is completely delighted with your offerings. Not only will satisfied consumers return to your lessons, but they will also spread the word about your abilities through word-of-mouth marketing.
This is frequently regarded as the most effective method of promoting your company. Begin marketing your studio even before it opens. This will assist in piquing people’s interests and raising awareness about it before you ever open your doors. To target the internet public, look into the price of creating a website and creating social media accounts. Include such expenses in your budget. Find a local dance studio team or attend webinars that teach you how to advertise and enroll students in your class.
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Building a website for the Dance studio
You need a company website as much as you need an advertising and promotion plan that includes small details like newspaper advertisements. Find a domain name and a hosting service. You may purchase both of these items together or individually. Your website address should match your company’s name and, if at all feasible, finish in.com. Hire an expert to create a foundation and style for your website, or look for these items online.
There are a variety of pre-made themes available at various pricing points. If you go with pre-made themes, make sure to get a framework. You need a company website as much as you need an advertising and promotion plan that includes small details like newspaper advertisements. Find a domain name and a hosting service. You may purchase both of these items together or individually.
Your website address should match the company’s name. Hire an expert to create a foundation and style for your website, or look for these items online. There are a variety of pre-made themes available at various pricing points. If you go with pre-made themes, make sure to get a framework.
Details about Taxation and GST
No business setup is complete without understanding and establishing a strategy for dealing with the taxes involved. The following are the tax regulations that must be observed by a firm that is established in Education and Training sector:
- A 15% Service Tax will be levied on activities in the training business. All transactions are subject to an 18 percent GST. However, there will be some leeway in the form of Input Tax Credits on the supplied goods and services, if any are available.
- The Academy can claim an Input Tax Credit of outsourced goods and services if the following criteria are met:
- Cross-utilization of Central GST and State GST will not be authorized, i.e., CGST input will not be accessible for SGST payment, and vice versa.
- To pay the CGST, first input the CGST amount, then enter the IGST amount.
- To pay the SGST, first input the SGST amount, then enter the IGST amount.
- To pay the IGST, first, input the IGST, then the CGST, and finally the SGST.
Filing of returns
Every financial year, an Education or Training Organization must file the following returns:
- Return for the half-year service tax
- Return of Service Tax every year
- Returns on all GST taxes
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Equipment required for a Dance Studio
Music players, Speakers, and amplifiers are essential components of a music studio. Make sure you select the music system with multiple inputs such as an Auxiliary, USB, Bluetooth connectivity, etc. Generally, you need at least two powerful speakers to cover an entire room with music. You can also add additional speakers for an immersive experience. Mount the speakers on the wall well above the dance floor for better results.
Apart from the mirror, the barre is also an essential component of dance studio equipment. Young dancers will lay their hands on the lower bar, while adult dancers will use the top bar. However, there are distinct movements and postures for adult dancers to utilize the upper and lower bar at different times. While many dance studios use wooden floors, some choose Marley flooring because it is what is used on the large majority of dance stages.
When you practice on Marley, you won’t be surprised when you test out the dancefloor; it’s also less slippery than other forms of wooden flooring. Like any other venue where sports are played, the studio should have a quality first-aid kit on hand. A piece of standard first-aid equipment should be well-stocked, and ice packs should be kept in the freezer. Remember that athletic tape is more probably to be used than anything else.
Keep a lighter on hand to burn ribbon on footwear to avoid fraying and tripping. A needle and thread, as well as safety pins, are valuable additions to the toolbox. You’ll need some heavy-duty fans in your studio if you live in a climate where most buildings don’t have air conditioning. A studio, especially in the summer, may become a scorching environment. Install bi-directional fans next to windows if feasible so that you may bring in fresh air while also blowing away stale air. Finally, every dancing studio should have a lost and found box and a spares box.
Every night, neglected goods can be placed in the lost and found box, where their rightful owners will hopefully claim them. Unclaimed goods can be put regularly. For example, dancers who have outgrown specific shoes, leotards, and tights can store them inside this spares box, so if someone forgets anything, there’s a possibility they’ll be able to work with a pair of shoes for that day.
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