Full-Time drama school with its own studio

Parents of children and teens, adult learners, and sometimes schools or community groups booking workshops.

Term fees and camp fees, with extra income from private coaching, audition preparation, birthday parties and studio hire to other groups.

• Acting and directing experience
• Teaching different age groups
• Managing a budget, a lease and part-time teachers

• Budget for the upfront cost of a lease: security deposit, first and last month's rent, fit-out (flooring, mirrors, lighting, sound, simple staging) and several months of rent while enrolment builds
• Lease commitments and rent can be a big risk if enrolment is slow
• Commercial general liability insurance, and property cover for the studio
• Check zoning, fire code and occupancy rules for a studio open to the public
• Hiring teachers means checking WCB/WSIB coverage and employment rules in your province
• Check whether GST/HST registration is needed as revenue grows, and any provincial rules on private training schools
• Enrolment often dips in summer and around holidays, so plan cash flow

Estimates suggest startup costs typically around $25,000 to $80,000, depending on the lease, fit-out and how many months of rent you cover while enrolment builds. Lease commitments can be a big risk if enrolment is slow.

Estimated monthly revenue is typically around $3,000 to $15,000, depending on enrolment, class mix and camps. Enrolment often dips in summer and around holidays, so plan your cash flow.

Check zoning, fire code and occupancy rules for a studio open to the public. Also check commercial general liability and property insurance, WCB or WSIB coverage and employment rules if you hire teachers, GST/HST, and any provincial rules on private training schools.