This target is a 10 Year Provider of Music Lessons Online and In Person. This company’s modern, powerful website takes care of the heavy lifting of properly explaining the company’s value proposition, services and has been so well received that it is achieving a 99% Retention Rate. This is an established business with a solid foundation after almost a decade of YOY growth. Concentrating on private high-end music lessons, this is a business model that can be recreated anywhere parents wish their children to learn the joys of music – there’s even an opportunity for adult learning. This Recurring Revenue Model is ideal for a hands-off, run from anywhere approach, and scale opportunities to franchise are already being discussed.
COVID has pushed this business to expand its Online Offerings, which can be further expanded as the years progress. As more and more children are at home for longer periods, Online Music Lessons have become a go-to strategy to help with both continued education as well as strategic planning of each child’s day. The business currently provides in home and virtual high end piano, voice, guitar, bass, ukulele, drums, violin, and cello. This is a simple, low cost, plug and play business model whose customer base consist of affluent clientele who value private music education for their children. The foundation and SOP’s are in place and tested, making this an easy business to replicate and franchise anywhere there is a large population with disposable income .
This is an ideal setup for an owner that wants the freedom to work from anywhere in the world without the confinement of an expensive physical storefront; it’s easy to reach more customers than other local music schools in a specific area. This is an exciting repeat customer business model with a 99% retention rate, so once a new student is booked and has made their first payment, it is generally a set and forget business model with minimal customer/teacher management needed from the owner.
The business is adding 8-15 new customers per month on average, even within its current relatively small area of concentration. Scale opportunity are vast – with franchising being the quickest and most lucrative revenue generator. There has been serious interest about national chain expansion – the current owner has laid the groundwork for new owners to pick up.
Implementing an affiliate marketing strategy (recommending products), could generate commission-based sales, and great blog content to further SEO optimization. Instrument rental is also an easy revenue stream to add on. Business has thrived on word of mouth referrals – with a referral incentive strategy in place. The business also holds high SEO ranking strategies for a number of relevant keywords which boosts organic search results.
