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Precisely How Ballroom Dance Studios Can Increase Earnings: Unleashing More Diversity and Energy in the Process Silas Mueller
Submitted 2014-03-15 23:57:43 By Dr. Daryl Green

Summary: Learn how today’s dance studios can tap the fastest growing minority segment within the country and acquire more profitability in the process.

Despite the financial crisis, Americans still aspire to dance and envision themselves, ‘Dancing with the Stars’. Since 2008, the dance studio industry has noticed an upward growth movement except in 2009. Tv shows like “Dancing with the Stars” and “So You Think You can Dance” provide a perfect stimulus for this industry.

Given the difficulty of growing and sustaining profitability in a financial crisis, this article offers ways to attract an untapped market in minority communities so that dance studio owners can create a market advantage in their local areas that their competition will have a tough time duplicating, therefore leading to more sustainable success.

According to estimates Matt Besler USA Jersey , there are over 15,000 dance instruction studios in the United States, generating over 1.4 billion dollars. On average, most dance studios have annual sales of $100,000. The best known dance studios are Arthur Murray International with 190 franchised studios worldwide and Fred Astaire Dance Studios, with 110 United States dance studios, according to IBISWorld Inc. reports.

In reality Lee Nguyen USA Jersey , most of the dance studios in this country are fairly the same size, offer similar services, have comparable pricing, and can effortlessly be substituted with other entertainment options. Therefore, identifying differentiating services amongst dance studios is often difficult for customers. However, John Gamble and Arthur Thompson, authors of Essentials of Strategic Management Landon Donovan USA Jersey , argue that having superior capabilities that cannot be easily duplicated is one way to ensure a sustainable competitive advantage.

With the struggling economy, buyers will continue to be more selective about how they use their disposable income. Consequently, an enterprising dance studio needs to develop a targeted program to solicit minorities in the community as new customers. adly, most dance studios have overlooked marketing to a more diverse clientele. For instance, the city of Knoxville (Tennessee) ballroom dance studios are mainly targeted for White Americans.

Actually, some dance studios target White people from 25 years old to 64 years old. This reality often means dance studios fight over the same potential market. Nevertheless, demographic changes cont. Cheap NCAA Jerseys Cheap Jerseys Cheap Jerseys China Cheap Jerseys Wholesale Wholesale Jerseys Free Shipping Wholesale Jerseys From China Wholesale Baseball Jerseys Cheap Nike NFL Jerseys Wholesale Jerseys China Wholesale Jerseys China

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