How to Collect Your Tuition - Martial Arts Billing
I remember starting my very first school many years ago; it was in a village of around just 2500 people.
60 People showed up for the very first night, I charged 2.
50/$5 for each lesson.
As the weeks went by the number of 60 dropped until around 6 months later there was around 20 students left! During the summer months I barely covered the hall hire fee for my efforts, I knew there must be a better way.
Especially as I desperately wanted to do this professionally as a career.
In October of the same year I made the decision to switch my charges to agreements (never say contract) at 25 per month, I signed up 20 students on this programme making the following changes to the school in the process: becoming a Black Belt School offering 2 x 45 min lesson introducing a student creed introducing a life skills weekly message assessing students progress each month - tip testing I was now earning 500/$1000 per month for 2 nights per week.
I was really enjoying my teaching! I bought new equipment, purchased training videos.
I had 20 excited and committed students.
6 Months later I achieved my dream of becoming a professional martial arts instructor having grown my school to 100 students and gradually increasing my fees along the way to 40 per month.
To make this switch like I did, you have to value what you do and believe in yourself becoming a professional martial arts instructor.
By introducing agreements you will have students that train more regularly, are more committed and achieve greater success, everyone wins! The truth is a club taking cash rarely grows, looking at the illustration above you can see what can happen by introducing agreements into the equation.
You can really build a strong school with an excellent financial base.
A student who enrolls at a school using agreements already has a perception, it is professional like a private school.
And if you have done a great job qualifying the person and making sure they understand they are making a commitment, which is essential if they are going to experience the positive benefits the martial artshas to offerbecause that's not going to happen in 2 months or maybe even 6 months but certainly by 12 months they will know it has been a great decision.
A pay as you go student always has the decision "shall I go tonight" to make, and this lack of commitment leads to drop outs.
Sure, students on agreements drop out too, but they are much more committed compared to the cash payer! And why pour your heart and soul into someone who isn't as committed as you There are lots of options open to you today.
You can either collect your fees via an agreement yourself or employ a third party billing company.
Be careful if you decide to bill collect yourself, you may find that your core activities (enrolling new students and retaining existing students) suffer.
If you are looking at a third party company here are some pointers; how do they charge - some charge a percentage of tuition collected! Others charge a flat fee how do they collect- standing order or direct debit, the later is far superior.
Credit agreement or non credit agreement how and when do you receive your payment what services do they offer - some companies tie in billing and consultancy and others are more flexible allowing you a choice of services i.
e.
just billing How efficient are they and how will they treat your valued students you don't want a company using hard line tactics that may give you a bad name I certainly never recommend suing a student over unpaid fees; this will damage your reputation and why put negative energy into it! Focus on where the next new student is coming from.
Of course there are schools that cash out most students or charge month to month that are successful but it's hard to build wealth if students have already paid for lessons or are free to leave at any time! If you ever plan to sell your school its tough to show value to a potential buyer if you cannot demonstrate a history of consistent high collections or if you have lots of students who require lessons they have already paid in full for!
60 People showed up for the very first night, I charged 2.
50/$5 for each lesson.
As the weeks went by the number of 60 dropped until around 6 months later there was around 20 students left! During the summer months I barely covered the hall hire fee for my efforts, I knew there must be a better way.
Especially as I desperately wanted to do this professionally as a career.
In October of the same year I made the decision to switch my charges to agreements (never say contract) at 25 per month, I signed up 20 students on this programme making the following changes to the school in the process: becoming a Black Belt School offering 2 x 45 min lesson introducing a student creed introducing a life skills weekly message assessing students progress each month - tip testing I was now earning 500/$1000 per month for 2 nights per week.
I was really enjoying my teaching! I bought new equipment, purchased training videos.
I had 20 excited and committed students.
6 Months later I achieved my dream of becoming a professional martial arts instructor having grown my school to 100 students and gradually increasing my fees along the way to 40 per month.
To make this switch like I did, you have to value what you do and believe in yourself becoming a professional martial arts instructor.
By introducing agreements you will have students that train more regularly, are more committed and achieve greater success, everyone wins! The truth is a club taking cash rarely grows, looking at the illustration above you can see what can happen by introducing agreements into the equation.
You can really build a strong school with an excellent financial base.
A student who enrolls at a school using agreements already has a perception, it is professional like a private school.
And if you have done a great job qualifying the person and making sure they understand they are making a commitment, which is essential if they are going to experience the positive benefits the martial artshas to offerbecause that's not going to happen in 2 months or maybe even 6 months but certainly by 12 months they will know it has been a great decision.
A pay as you go student always has the decision "shall I go tonight" to make, and this lack of commitment leads to drop outs.
Sure, students on agreements drop out too, but they are much more committed compared to the cash payer! And why pour your heart and soul into someone who isn't as committed as you There are lots of options open to you today.
You can either collect your fees via an agreement yourself or employ a third party billing company.
Be careful if you decide to bill collect yourself, you may find that your core activities (enrolling new students and retaining existing students) suffer.
If you are looking at a third party company here are some pointers; how do they charge - some charge a percentage of tuition collected! Others charge a flat fee how do they collect- standing order or direct debit, the later is far superior.
Credit agreement or non credit agreement how and when do you receive your payment what services do they offer - some companies tie in billing and consultancy and others are more flexible allowing you a choice of services i.
e.
just billing How efficient are they and how will they treat your valued students you don't want a company using hard line tactics that may give you a bad name I certainly never recommend suing a student over unpaid fees; this will damage your reputation and why put negative energy into it! Focus on where the next new student is coming from.
Of course there are schools that cash out most students or charge month to month that are successful but it's hard to build wealth if students have already paid for lessons or are free to leave at any time! If you ever plan to sell your school its tough to show value to a potential buyer if you cannot demonstrate a history of consistent high collections or if you have lots of students who require lessons they have already paid in full for!
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