“Selling” a studio?

said: Jun 23, 2009
 16 posts

I am planning on moving to a different state within the next year. Over the past five years, I’ve put a lot of work into developping my studio here in the state in which I currently live. For the first few years, you know how it is: I figured out exactly what I wanted my policy to look like, how I wanted my students to play, and how much I wanted my students to practice. I’ve gotten it to the point where almost all 30 or so of my students are dedicated practicers with families who generally pay on time and who understand and value a Suzuki education. Now that everything is just right, I am leaving and starting another studio (I am sad to leave my students behind, but eager to be in a new location.) My question is this: Has anyone ever head of “selling” one’s studio? By this, I mean: I have a nice big room in a church which I can pass on, as well as 30 great students, all of which took me years to build up. When I was just starting out, I think I would have paid a great deal to have a “ready made” studio. I don’t even know how much I would charge, but I’m certainly not out to exploit anyone. I would “audition” teachers at my studio and see who my students liked, with some kind of contract stating that of course there’s no guarantee as to certain of the students changing teachers, etc. Anyway, excuse my long-winded question, and please let me know your thoughts or if anyone has had any experience along these lines.

Sara said: Jun 23, 2009
 Violin
191 posts

I had a similar situation a few years ago when I moved from Co. I too had worked several years and built my studio and it was flourishing. It would have been a plum for someone to walk in and take over. The students there were fantastic.
I don’t think that you can put a price tag on something like that.
If for some reason you had to cut back your teaching and only refer a small number of your students to another teacher, would you charge for the referral? I think it is the same idea with a large number of students. I think you just need to refer them to teachers in the area and let them do the interviewing and choose who they will study with. As you said, there is no guarantee that the teacher you picked for them would be a good fit—no matter how skilled of a teacher she may be.
Those are my thoughts on the matter. Take it for what it’s worth. Good luck with your move!

“What is man’s ultimate direction in life? It is to look for love, truth, virtue, and beauty.” Dr. Shinichi Suzuki

Lynn said: Jun 23, 2009
 
Suzuki Association Member
Violin, Viola
173 posts

How much would you pay right now for a ready-made studio of 30 in your new community?
What exactly would you expect to be purchasing, that would make it a reasonable investment for you?

Or would you decide that in the long run you would make out just as well, or better financially to simply build your own program, since you already know that you can do it effectively?

said: Jun 23, 2009
 16 posts

Thanks for your comments. My whole idea, I guess, is that it takes about a year to really have a full studio, full of dedicated students or not. That is a year of lost full-studio income. I guess that if I could move to my new community and immediately have a ready-made studio, it would be worth at least 3 months of income to me. Not that I am thinking of charging that myself, but still… I know that I can build it up again in the long run, but I would be very interested in a short-term build up if it were available, and am hoping that someone else might feel the same too…

said: Oct 12, 2009
 4 posts

Where are you moving from?

Jennifer Visick said: Oct 13, 2009
Jennifer VisickForum Moderator
Suzuki Association Member
Viola, Suzuki in the Schools, Violin
998 posts

I wouldn’t want to “sell” my studio because it seems that regardless of my recommendation, it really is up to my students to find, interview, and choose their next teacher. I may not even want to recommend the same teacher for all of my students, let alone take money from the people I’m recommending when I don’t know if the students will actually commit to studying with that person or not.

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