Finances

Running a teaching studio is a great service.  Collecting teachers, offering classes and lessons, coordinating schedules, events and policies — it makes total sense to organize it all as efficiently as possible.

But it’s important to keep in mind how you decide to organize it all.  There are others who want to know, namely, the IRS and your state departments of revenue and labor.  Okay, they can be a pain but why not look on the bright side:  can you imagine how completely disorganized most businesses would be if they didn’t have to keep track of things for their tax returns?  (Always looking for the silver lining!)

Let’s talk about why the government cares about your studio’s relationship with your teachers.  This can help you manage your studio better, by clarifying the rights and responsibilities of the studio toward its teachers, and vice versa.  

Inventory is a part of many studio operations. Knowing more about retailing can help your bottom line. In many cases your students need supplies, uniforms or equipment. Let's  focus on ways to control overhead and maximize use of finances. Outsource entirely It's ideal to have a local vendor willing to stock items. How can you help build the best relationship? Keep them informed of your schedule so...

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