Create Extra Income, Recurring Income and More!
Recurring, passive income is a great way to increase the profits of your studio. The idea is that you put in the work one time and then create extra income over the months and years to come. The result is that you will have more money to put back into your studio and more time to spend on activities of your choice.
Work once, profit many times
Many businesses today think only about providing a service or a product one time. The problem with that is that the moment you stop, the money stops. If you are solely earning money by teaching, you are limited in the amount of income you can make. After all, there are only so many hours in the day.
As a studio owner, you are well placed to create products that will generate recurring income. At the same time, you are providing something for people who perhaps cannot afford or don’t have time for in-person classes.
The value of instructional videos
Consider instead making instructional videos, which could be marketed at your studio or online. After all, some people might not have time or money to come to your studio, but still want to learn.
Instructional videos could also appeal to anyone who wants to practice at home in between classes.
An additional benefit is that videos can act as another marketing channel. Someone might buy a video and then later decide to sign up for classes in your studio.
It doesn’t have to cost you an arm and a leg to create a series of videos. Most digital cameras provide ample quality for creating short, 30-minute recordings.
Once recorded, upload your videos to your PC and use readily available video editing software to covert the video into avi or mpeg format.
These types of products create extra income that can extend your reach beyond the hours you and your team are able to spend in the studio.