by Matt Pasquinilli and Dennis Schaefer

Most owners of martial arts schools start as students of the martial arts, often having grown up in a school, and so have an idea of what a martial arts business looks like. While it is good to have a starting point based on your perspective as a student, many martial arts schools are poorly run, so just following in your instructor’s footsteps is not always a good idea.

 

We are assuming that you have already decided that you want to be in this industry as a school owner and so we are not going to waste your time talking about the pros and cons of owning your own martial arts business. It is also our belief that martial arts school ownership is a great way to build wealth and serve your community in a very meaningful way.

 

So let’s get started.

 

Tip 1 – Self-Assessment

 

Take some time to think about and write down what assets you have to invest in your martial arts school. Starting with financial assets, list your cash on hand, cash you might have coming in from another job or investments, and your ability to get credit, or your credit score. It is best to have as much as possible in this category, but don’t despair if you don’t have the healthiest financial picture. A lot of businesses are started on a hope and a prayer.  You should expect to have a hard time starting out this way, but you can always find solutions to any problem if you are persistent, ask for help, and keep a positive mental attitude.

 

After determining your financial strengths, start to assess your less tangible assets like whom you might know that can help you plan and organize your efforts to get started on the road to opening your school. You will meet the most success with a team behind you, but be careful to steer clear of negative people and those who have little faith in your ability to succeed.  A successful team should include anyone you know who is already successful in business; professionals like attorneys and accountants who might help you for free or a discounted rate, and anyone who believes in your dream or believes in you. Sometimes having someone to talk to about your plans helps you to find solutions faster and gives a different perspective to how you might be thinking about an issue.

 

Tip 2 – Reality Check
We believe that anyone who has a passion for teaching the martial arts should have the opportunity to own their own school. However, they should also have a foundation of good skills to start with, have as much experience as a student and as a Black Belt or equivalent, as possible, have impeccable ethics, and a strong moral compass.

 

Of course, anyone who is intimate with the martial arts business knows that our industry is littered with goof balls, hacks, and people who are just plain bad. Every industry suffers from this problem at some level, but it is more upsetting in our field because many martial artists come from a tradition of self-discipline, honor, and respect. While many school owners start with good intentions, without a professional approach and strong ethic, a school can become mediocre or worse and exist that way for a long time. There are good schools also operating in our industry and, when you find them, we suggest that you take as many notes as possible and think about what makes them so attractive and successful.

Tip 3 – Be Disciplined in Your Planning

 

Apply the discipline that you developed through your martial arts training to planning your business. Set aside time every day to write out a daily agenda or task list and prioritize your work according to what needs to be done the most. Don’t avoid the hard work or the things that you dislike or that make you nervous. Just like you trained hard as a student in martial arts and overcame many obstacles that took you out of your comfort zone, you will have to embrace the challenges of starting and operating a professional business in order to make progress and reach your goals.

 

Tip 4 – Write a Business Plan

 

This can be a daunting task but it doesn’t have to be. There are many books that guide you through the process, and many free examples and templates are available on the internet. If you are not the type to spend hours and hours writing and researching, then don’t try to write that type of business plan. Start with a brief outline first, and then fill it out as you think about your plan and gain knowledge and experience by talking with your support team. If you don’t have a support team, build one.

 

Tip 5 – Seek Professional Assistance

 

Talk to an attorney and decide what type of business you want to operate. There are several appropriate business structures for martial arts schools and an attorney or accountant can help you decide which will work best in your personal situation. Tax issues are often taken into consideration during this stage so unless you already have another business or work as an attorney, accountant, or tax adviser, you should seek professional help. The small amount of money you invest in getting this type of assistance can save you a lot of money and headaches in the future.

 

Tip 6 – Naming Your Business

 

Decide on a business name and register it with the state. You can research names on the internet or have your attorney do it for you. Think of the most simple, normal sounding, and easy to pronounce name you can. A good name should be short and describe the business as clearly as possible. Of course, some martial arts schools have long or exotic sounding names and others are very hard to pronounce. You could certainly use those during class and inside the school on brochures and other printed materials and signs but, be warned, most people will not know what you are in business to sell and you will make marketing and advertising your business profoundly more difficult.

Matt Pasquinilli is Executive Director of the non profit Asian Arts Center Taekwondo School in Dayton, Ohio.

Dennis Schaefer is a professional martial artist and author living in Oakwood, Ohio.