Tips For a Profitable Recital
Recital is arguably the most important day of the year for your studio.
You spend all year preparing for it and for many of your students, it’s the only opportunity they’ll have to showcase what they’ve been working on in class.
Parents have spent money on the costume, committed to the time, and are anxiously awaiting their child’s debut on the stage.
Not only do they expect to see their child shine, they want an overall excellent experience!
Many families decide right there in their theatre seat if they are going to return to your studio next year.
You’ve got the weight of the world on your shoulders and we think you should make money from it!
In this blog post, we have tips for you to make your recital a financial success!
1) Calculate your operating costs and charge accordingly!
That venue is expensive, y’all! But don’t forget about paying your teachers (and yourself!) to work the event.
Calculate those costs and make sure your tickets are charged accordingly.
Although all of the extras such as apparel, flowers, and snacks are great, they are more unpredictable in terms of sales and you shouldn’t rely on those to cover the costs; they should simply be extra.
2) Stick with one costume company.
Not only does one company make things easier to keep track of, but it also can increase your profit margin on costumes by helping you get bulk discounts.
Shipping rates are lowered when you buy bigger quantities and some companies offer even more perks when you stick with them! The less you pay for your costumes, the more you can make without marking them up exponentially.
Having all of your costumes in one place also will decrease admin payroll hours because you are only dealing with one company.
3) Keep it simple with merchandise.
We all love a good branded t-shirt, but be careful that you don’t spend too much on inventory that won’t sell.
Screen printing is expensive and you usually have to buy a TON to get a good price.
You do not want to get stuck with extra inventory!
Buying in small quantities sounds like a bad idea with screen printing and wholesale pricing but we are suggesting something completely different when it comes to items beyond the recital t-shirt!
Buy some cute dancewear from Discount Dance or Dancewear Solutions that is affordable and partner with a local small business who does vinyl.
Putting your logo on a leotard with vinyl is a super cute and cost effective way to get this going. There are no setup fees and you will get a much better deal than with a big company.
If you only have a few promotional items of each design, parents will jump on it because they will fear it will sell out.
Supply and demand is key!
4) Invest in a good videographer for DVD sales and offer an incentive for pre-sales.
Your parents love their kids and want to have memories from the recital and they also love a good deal!
Offer a small discount if they purchase the DVD ahead of time and guarantee yourself some income going into recital.
Be sure to use a reputable company who will produce a high quality video that people will be pleased with.
Calculate how many DVDs you’ll need to sell to cover the cost of the videographer and then make sure you go above and beyond that!
Offering a package for a DVD, flowers, and a recital apparel can really take you over the top!
Listen, we know that recital time is crazy and you lose sleep over the details but it is SO worth it!
These are lifelong memories for the kids and it is all because of you!
We hope that you can not only relax and enjoy this time, but make a nice profit to support your business.
If you have a tried and true way of making a few extra bucks at recital, drop it in the comments to help other studio owners!
Cheers to a successful recital season!
Your Biggest Fan,
Micaela Royer
CEO, The Streamlined Studio
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