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Old 10-12-2017, 10:44 AM   #1 
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means dance studios fight over the same potential market

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Submitted 2014-03-16 02:15:28 By Dr. Daryl Green

Summary: Learn how today’s dance studios can tap the fastest growing minority segment within the country and gain more profitability in the process.

Regardless of the financial crisis, Americans still aspire to dance and imagine themselves Wholesale Amara Darboh Jersey , ‘Dancing with the Stars’. Since 2008, the dance studio industry has seen an upward growth movement except in 2009. Tv shows like “Dancing with the Stars” and “So You Think You can Dance” provide a perfect stimulus for this industry.

Given the difficulty of growing and sustaining profitability in a financial crisis, this article provides ways to attract an untapped market in minority communities so that dance studio owners can create a market advantage in their local areas that their competition will have a difficult time duplicating, thus leading to more sustainable success.

According to estimates, there are over 15,000 dance instruction studios in the United States, producing over 1.4 billion dollars. On average, most dance studios have annual sales of $100,000. The very best known dance studios are Arthur Murray International with 190 franchised studios worldwide and Fred Astaire Dance Studios Wholesale Nazair Jones Jersey , with 110 United States dance studios, according to IBISWorld Inc. reports.

In reality, most of the dance studios in this country are relatively the same size, provide similar services, have comparable pricing, and can easily be substituted with other entertainment options. Consequently, identifying differentiating services amongst dance studios is often tough for customers. However, John Gamble and Arthur Thompson, authors of Essentials of Strategic Management Wholesale Delano Hill Jersey , argue that having superior capabilities that cannot be easily duplicated is one way to make sure a sustainable competitive advantage.

With the struggling economy, buyers will continue to be more selective about how they use their disposable income. Consequently, an enterprising dance studio needs to develop a targeted program to solicit minorities in the community as new customers. adly, most dance studios have overlooked marketing to a more diverse clientele. For instance, the city of Knoxville (Tennessee) ballroom dance studios are primarily targeted for White Americans.

In fact, some dance studios target White people from 25 years old to 64 years old. This reality often means dance studios fight over the same potential market. Nevertheless, demographic changes continue to take place in the Knoxville area. For example, the most substantial increase. Cheap NHL Jerseys Wholesale Jerseys Wholesale Soccer Jerseys Cheap Jerseys China Cheap Jerseys China Wholesale Jerseys Wholesale Jerseys Wholesale Jerseys Wholesale Jerseys China Wholesale NFL Jerseys Free Shipping
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