Full-Time taekwondo school with its own dojang

Families enrolling children, plus teens and adults looking for training and fitness.

Monthly memberships, often on a recurring payment plan, plus grading fees, uniforms, gear, camps and tournament entry fees.

• High-level taekwondo and instructor qualifications
• Running a small business and managing a budget
• Marketing, sales and keeping students motivated

• Commercial lease terms, deposits and fit-out costs, which are the biggest risk
• Zoning, occupancy limits, fire code and any business licence your municipality requires
• Commercial general liability insurance, signed waivers and records of student injuries
• Police record checks for all staff and assistant instructors working with children
• GST/HST registration once you pass the small supplier threshold, and WCB/WSIB coverage if you hire staff (rules vary by province)
• Membership can dip in summer and around holidays, so plan cash flow for slower months
• In Quebec, check French-language rules for signage and customer communications

Estimates suggest startup costs are typically around $15,000 to $60,000, depending on the lease, deposits, fit-out and equipment. Commercial lease terms, deposits and fit-out costs are the biggest risk, so check them carefully.

Estimated monthly revenue is typically around $3,000 to $15,000, depending on your membership numbers and fees. Membership can dip in summer and around holidays, so plan your cash flow for slower months.

Check zoning, occupancy limits, fire code and any municipal business licence. Also check insurance, waivers, police record checks for staff working with children, GST/HST, WCB/WSIB if you hire, and French-language rules in Quebec.