Running a martial arts business can be a great way to earn a living while doing one of your favorite hobbies. Your martial arts business can be profitable in two distinct ways: through student enrollment and through selling products related to the martial arts. Keep your eye on the latest products in the industry for new sales ideas. With some business smarts, you'll have a martial arts company that can compete with the best.
Items you will need
- Registration papers
- Gym mats
- Shelving units
Start by gaining knowledge about the martial arts. Find out about about the industry (tournaments, training methods, etc..) if you want to start a martial arts business . Train in one or more of the martial arts (Karate, Taekwon-do, Jujitsu, etc..) and learn about the different fighting styles. You'll gain more credibility if you become a black belt yourself in one of the martial arts disciplines.
Look for a location for your business. Choosing a good location is essential for your success. You want to find a building that is large enough to house your practice room and your store. It should also have a parking area and be close to residential areas. People won't want to travel too far to come to classes.
Secure funding. Talk to a bank about getting the financing you need to start a martial arts school. The bank will decide whether you are credit-worthy by looking at your credit score. When requesting a loan, be sure to ask for all the money that you will need at once--this includes money for the location, equipment, advertising and salaries of your employees.
Register your business. File the paperwork to register your martial arts business with the local and federal government. A lawyer can help you with this if you are not sure that you are doing things right.
Purchase equipment needed for a martial arts business. The classroom area should have mats on the floor and mirrors on the walls. You'll also need to purchase proper training gear and clothes for your prospective students and maybe a few display weapons to sell in the store area.
Set up the inside of your training facility and store areas. Be sure to keep safety in mind.
Hire employees trained in the martial arts. Employees will make or break your business. Choose employees that have specialized training in each of the martial arts you plan to focus on. Also, consider hiring workers that enjoy working with children, since many of your students will be children.
Advertise for customers. Look for local customers through newspapers or fliers. You can also network with websites that focus on the martial arts. These sites can lead people that are interested in the martial arts to your school.