Please everyone understand. I am trying to be helpful for those currently in a pole business or thinking of one. If you are willing to read the book then hopefully you can make your way through my rambling!
You said "In my experience it tends to be the money issue, not advertising, that keeps pole studios from being profitable"
That is like saying "I only need medicine to treat my disease." If only it was that easy. I am struggling with this issue first hand. Am trying to get on a medicine that is $16,000 (IV Infusion) per treatment. Need a local doctor (Mayo Clinic already has specified this is the medicine of last resort for me.) to sign the orders and then submit to my insurance to see if they would cover part of the cost. The local doctor wants to repeat tests done 2 months ago that insurance will not again pay for. And insurance I already know will at least deny my coverage for the medicine at least the first time. (Sorry for venting about my medical issues! But there is a point I promise)
It is the same in business. It is the details that matter. Yes money is in business what will pay the expenses of the business and hopefully pay your own income to some extent. But how do you get that money? Can we all here say together 'Cause #3: "Business is not easy."'
You need to advertise whether it be word-of-mouth, social media, websites, print media or whatever but something targeting the demographics that match your area to get the interest of potential students & customers. Then attract them through phone calls, websites & emails to actually visit your place. Then have a decent sales pitch & visual presentation to sell them on your classes and so they actually hand over that money you think is so easy to get.
On the other side, is no business will have unlimited funds. So how all expenses which includes advertising are handled can be equally important.
I was not going to comment on the book here (Jenae was kind enough to email me a copy) but a couple of individuals had asked me to here. And it is important for a lot of people here. I promised her not to divulge the content but will instead focus on what is NOT in the book.
First for people like @litlbit this book will not be helpful. It does not cover a studio owner but is about renting space from a gym. Sorry SCORE did not help you. They are each human and you can get good ones or bad ones.
There is a lot of arbitrary numbers. There is a brief paragraph on estimating business. It is an arbitrary number. She does not explain how she reaches it or how to determine for your own area and market. As planning is extremely important that is proving the point of Cause #1.
Some things were not properly researched. She lists the cost for a group fitness certification. That is the approx. cost for the test only. Not for the most important study materials which are several times the price of the test and I can count on one hand how many people on this planet can pass those tests without the study materials. Also no mention that in order to keep those certification you must spend money each year for continuing credits. She does "recommend" getting a CPR cert but again proper research would turn up that any fitness cert requires not only CPR but AED certs.
She gives the cost RANGE for liability (she calls it something else) insurance but it is a range of several thousand dollars. Hardly helpful in planning. Here she points you to doing a Google search for more info. Would prefer in things like this that she does the due diligence of a few minutes to provide some specifics. As I said before in business its in the details and the book is missing most of the details. Pole expense also is a large range with options (brand, size, etc.) what everyone here already knows and has been discussed in greater detail.
Expenses per month might be reasonable for Norman, Oklahoma but doubt it will work for California, New York, Michigan, Ohio, London, Melbourne, (You get it!) She did have a form with expenses but can someone tell me why you need a few hundred dollars of welding per month? And no expense for advertising?
There are a number of business details specific to a pole business that were not mentioned at all.
First while this requires you purchase the poles (to me a debatable issue for an alternative business plan not mentioned) she directs that you might need to "simply cut a hole" (sorry that was directly from the book) in a ceiling. No mention about asking permission let alone that it must be permission in writing!
There is something like 2 or 3 sentences dedicated to discussing an independent contractor agreement. This would be the contract between yourself and the studio/gym. She barely touches on it and only as it regards the poles being used. I would have much preferred if she only included a sentence asking the reader to retain an attorney for creating or reading any contract. That would have had more value. The paragraph is a little murky of you can do this, or maybe this or maybe this. No mention about an Exclusivity agreement, Non-Compete clause or Non-disclosure. Without specific language the agreement may have no legal meaning. Also missing and I want to stress to people here, If you install permanent or even semi-permanent poles in someone else's studio property, legally (at least here in the states) you have made an improvement to their property and it becomes part of their property. In plain English, if you install poles in a studio they can now claim they own your poles. You must clearly state in your contract signed by a person in Ownership (not just a manager) that you retain ownership of your poles. Again she provides generalities but not the important details.Further as the book describes being only a subcontractor (she completely discourages you from owning an actual studio yourself) then its the studio's business.By default you cannot just take THEIR students & members and open up shop elsewhere. In fact if you do not have permission from the studio you cannot even market to their members for your classes. Sorry folks but its the world we live in. Would have been nice to show a sample contract at the least.
Without everything spelled out in writing and agreed with. You can setup the room & poles; arrange the classes & schedule; draw in students and they can then throw you out on your butt and continue it themselves. That is one of the reasons it may be a better reason to ignore this book and start your own studio.
If you are not good with the legal stuff, PLEASE Hire an attorney even if just for an hour.
Although on this website she seems to have an aversion to advertising, she touches on it in within a few paragraphs. A lot that will not work in other areas. Once again, demographics change everywhere. And how do you take a picture of your entire pole class before you even have your first class? Makes my head explode like the Big Bang Theory. (the theory not the TV show, tho' love the show!)
Now I must apologize because I am the one who is writing a book here. Mine its not for sale, sorry. But welcome to ask questions on here for free. Just want to protect those that think there is much to it. Give up your day job and try invest a few thousand of your money? Want to help you before you make any decisions and a few that already have.
In closing (finally right?) the book is only 54 pages of content with extremely large print and five pages of forms. I see she dropped the price today to $35 from $50 yesterday. That's still 60¢/page without a lot of substance or details. It focuses almost exclusively on what she did. Sometimes briefly touching an alternative but before explaining anything discouraging you from going in another direction. It misses a tremendous amount of details I barely touched on here.
I would love to see a book about the pole business with details that would provide assistance, allowing for variations in geographic area, economy, type of pole business, etc. Also equally important but missing from the book is what to do when things go wrong as they will at some point. The economy drops out like in 2008; the fitness center closes down suddenly; you have an accident with a student. Even the Stock Market is fantastic except for when the stock goes down.
Sorry everyone for being long winded. I wasn't going to post about the book but a couple of people asked me to. Hopefully a lot of this information can be taken in a productive light of what else there is to know for a pole business.
NOTE: I personally have a request of everyone on here. Its okay if no one agrees. I myself and other people I think would find more benefit if people who are currently in a pole related business or have been in the past can post details of their business. Start a new discussion for it. Do not have to give specific numbers. I have been involved in a number of business roundtables and panels over the years. Sort of doing the same on here. Helpful to know planning, demographics, advertising & marketing, expenses, contracts & agreements, facilities, issues, and anything else that matters.
Both the good and even bad when something has gone wrong. It would help those thinking of starting a business as well as those currently in business. It always helps to know what works and doesn't even though it will be different for many. I know some people get frightened about "Competition" but I have already expressed privately to three people that it is not necessarily a bad word. In contrast it can be a strength to leverage. So do not think it will be used against you. Sharing will help everyone including yourself. Just an idea.
Thank You and apologies if you read all of this. Have a Super day!
