How to Create More Revenue Renting out Your School for Events

Unless you own your own space outright, one of your biggest costs will be your rent or loan payment. To offset this inevitable expense, many martial arts schools find some extra revenue by renting out their space. Hosting others for martial arts school events works because most schools only hold classes for a specific time period - traditionally in the evenings.

 

There are a lot of opportunities not only for revenue but for cross-promotions and marketing as well. Without further ado, here are some tips on how you can create more revenue renting out your space for martial arts school events.

 

Let it Be Known

Unless people know they can rent your space, no one will. Put a little graphic on your website and put out ads in your local listings such as Craigslist. Let your students and instructors know as well, so they can share the news with their families and colleagues who may be interested in renting. If you have newsletters or email campaigns, you can share the info through there too. Finally, look through your networks and send out personal messages to the relevant people. The more people who know they can hold martial arts school events, the greater the chance you’ll book your space.

 

Think Community First

Building community is incredibly important and martial arts school events can be a great way to do that. Prioritize booking in organizations that are part of your community who share complimentary demographics with you. Cross-promotions are huge for marketing and creating a network. The more businesses promoting each other, the better it is for everyone. Organizations like schools, churches and charities are some of the best to host, as they are a hotbed for leads and their events are usually very positive.

While it is always smart to get to know your community and other organizations within it, remember that you should have guidelines for the types of events that can be held at your school. If you want to maintain a positive image, some events may not always be suited for a martial arts school. For example, you may want to refrain from events that promote alcohol, instead hosting local AA meetings.

 

Be Charitable

Working with charities is always a smart, positive idea. You get to do your part and make a positive difference, while showing your community that you are socially conscious. Once in a while, sponsoring an event by lending your space for free or discounted to various charities can be rewarding in many ways.

Sometimes we need to lead by example as martial artists and make a difference in our community as our duty. It shows your community that you lead by example with the values you teach your students. Schools that show their community this kind of compassion tend to have more locals join their classes, as a result.

 

Contracts and Agreements

Get a notary public to draft you a contract for rental agreements. The last thing you want is an accident during a martial arts school event that leaves you liable. Make sure you have your company covered with all injury and damage liability in the contract. It may also be a good idea to check in with your martial arts insurance agent to make sure your insurance covers everything else.

Once you start getting interest in booking your space, you can set up online booking with ChampionsWay software for an easy, hands-off approach. Let us know if you need help setting up online booking for your martial arts school events; we’re always here to help!

One of the best martial arts school events you can host is a birthday party. Check out this webinar showing you how to maximize the benefits of birthday parties.

What other alternative sources of income have you created around your martial arts school? Let us know on Facebook, and follow us on Twitter and Google+ to stay up to date with all of your ChampionsWay news.