Maximizing Revenue with Limited Edition Uniform Drops - No Bulls#$t Business Tips 16

Hi, friends.

Welcome to no Bullshit Business Tips by the Dance Principals United team. Each week we're dropping short, actionable tips for you to grow the studio of your dreams. You can find this video on our free Facebook group at Dance Principles United or check it out here on the podcast as a bonus episode every week. Hope you love it.

Hi, friends. Amanda and Bec here for no bullshit business tips. And today we want to talk to you about limited edition, you uniform drops.

Absolutely. We know that limited edition drops work in so many clothing companies. Right. You know, it creates that fomo, that sense of urgency that, you know, I'm only. It's only going to be out once and then once it's gone, it's gone. And it makes everyone want to buy it really quickly. I've definitely been sucked into some of that marketing before.

Oh, gosh, me too. Absolutely. And look, you know, I think when you can really create FOMO around it, when you can make it super, super exciting and like Amanda said, then everyone's going to want to buy it and put some time limit on it. It always makes it such an amazing thing.

Absolutely. You know, if you just have the same old uniform, that regular set thing that's there all the time, you're missing out on a huge opportunity to make some really great money in your studio. So using limited edition drops is such an absolute key, and that means that you can not have to worry about stock levels, which is great. We know that that's hard. Right. And you know, just get X amount of one piece and then that's it, it's gone. Once it's gone, it's gone. And that is absolute key. So to do something like that every season, every year, you know, could really help you grow that kind of revenue stream in your studio.

Now, I know you were really good at this in your studio, and I think what Amanda was super gun at was seeing what the kids were interested in at the time. So, like, if we think about today, what the kids are interested in, like, we've just done those little unitards, you know, with the shorts in them, and like, you might be watching this back and gone. That was so 10 years ago. But right now, those unitards are so hot. And so we organize that through our studio growth club to get those unitards out to people, and they are selling so quick at my studio, it is crazy.

Absolutely. You know, what's the cool new thing that's out at the moment, you know, and it doesn't have to always be like, the unitard's a great option. Because that's just something that's kind of in fashion at the moment. It works right now, right?

It's.

It might be a T shirt, it might be a scrunchie. Like, it doesn't always have to be like a huge, big, like, what am I going to wear to class? It might be a bag, it might be an accessory of some sort. But using it as a limited edition drop and really creating that FOMO through the marketing is absolute key.

Yeah. And let's talk about that just for a second. That FOMO is so important. Like, people always say to me, oh, it didn't work. But like, things don't work because you don't put the work into it. I truly believe that it's. If you've done the Instagram post, the teachers talking about it, the excitement, the buzz, the photos, that if you've done all the things leading up to it, a countdown on how many days until it drops, you're gonna get the traction. But if you just do one post and then kind of don't really talk about it much and then just put it up and hope that people buy it, you're not gonna get the traction.

Absolutely not. And I think key for this, especially if it's something you want to do on a reoccurring basis and is actually make it limited edition sell out. You know, don't go, oh, I'm gonna say it's limited edition, but I actually have enough for all the kids. Cause I want them all to feel included, like, whatever that is. Right. Actually, you know, we can't tell you what that number is because it depends on the size of your studio. Right. But, you know, Maybe it's only 50 of this item and that's it. Because people are gonna know next time that you're serious. The next time you bring something out, you know, maybe you get more. But they know that, oh, she really wanted that last limited edition drop, but, you know, she missed out. So I've got to be quick this time. You know, it's training your clients around that, right? Because we've all seen that, you know, clothing brand that Instagram on Instagram that's like sold out so quickly. And we're like, oh, shit, I've got to be on it next time, right?

Oh, absolutely. And so, guys, we want you to have a really good think about this. You know, get creative with it. Have a look at what your kids are into at the moment. There's some great sites that you can go to, like Alibaba, where you can get all of those cool things made in bulk. Order it, get it into your studio, put some foam around it and make some extra money with a cool uniform.

Drop Absolutely. We'd love to see some ideas. So you know, drop it in the comments below. We'd love to say what have you done before? What kind of ideas are you thinking about? What's worked for you? Because it's so great to inspire each other, right?

It absolutely is. And we want you guys to share on this page because the more we can help each other, the stronger we are. Stronger together, right?

Absolutely. So share it below. We'd love to see it. Hey, if you're loving these episodes, please go check out our podcast Dance Principles United on Spotify and Apple all the places. And check out our Instagram too. It would mean the world to us.

All right, guys, make sure you take some action.

Let's do this.