Finance Module Introduction:

Welcome to the Finance Module of the Dance Studio Owners Association Studio Success Pillars Foundations curriculum! This series of courses is designed to give you the foundational financial knowledge and skills necessary to make informed decisions that will drive your studio’s success and sustainability.

What You Will Learn

In this module, you will:

• Understand the Fundamentals of Studio Finances: From budgeting and forecasting to understanding profit margins, you will learn the core concepts of financial management that are crucial for any business.
• Gain Confidence in Financial Planning: Learn how to set financial goals, track income and expenses, and create accurate budgets that reflect your studio’s unique needs.
• Analyze Sales, Expenses, and Profit: Develop the skills to interpret your monthly sales data, manage expenses effectively, and calculate profit margins to keep your studio financially stable.
• Implement Profit First Principles: Discover the power of the Profit First method to prioritize profit and owner compensation, ensuring long-term financial health.

Why This Matters, Even If You Plan to Delegate

As a studio owner, you may eventually want to delegate some of the day-to-day financial tasks—such as bookkeeping, payroll, and expense tracking—to a member on your team (such as your Operations Manager) or an external provider like a bookkeeper or accountant. While it’s essential to have someone you trust managing these tasks, it’s equally important that you, as the owner, have a deep understanding of your studio’s finances.

This comprehensive module will give you the tools and insights you need, whether you plan to handle finances yourself or work with a financial professional. By understanding your  studio’s financial health, you’ll be well-equipped to lead your business to continued growth and profitability.