Thinking of some of the more popular forms of enrichment classes that parents send their children to? Taekwondo is one of them!
Taekwondo is more than just self-defence. The six tenets of Taekwondo are courtesy, integrity, perseverance, self-control, victory, and indomitable spirit.
Through these tenets, people are educated to become the best version of themselves, so it’s no wonder that Taekwondo has become increasingly popular.
But opening and running a Taekwondo School is no easy feat. You get higher revenue for bigger schools, but that translates into lower profit for each student. Most Taekwondo schools have an average of 250 students.
You will need a good, safe location with parking, convenient hours both in the morning and in the afternoon. All these coupled with dedicated and knowledgeable teachers. You need good marketing plans and a smart budget that will help your business turn profitable.
SBL Singapore understands that you need about $10,000 to open a Taekwondo institute, but there are other recurring fees to consider. Rent is $2,500 for 1,000 square feet, but you’ll also need insurance, liability insurance, maintenance fees, and a whole array of other expenses that get you to an average of $15,000 per month.
After helping a few clients and doing our own market research, we have speically tailored a Taekwondo School / Institute Business Loan. These loans help the schools tide through any financial hiccups they might face along the way.
Mr Dean Goh is the owner of a Taekwondo school originally opened by his father a few decades ago. Young Mr Goh is passionate about this martial art because he resonates with what it stands for and its long tradition.
However, Mr Goh understands the role of technology and wants to adapt his school to modern times. That’s why he came to us at SBL Singapore for financial assistance a year ago.
Mr Goh has seen the high-tech developments in Taekwondo promoted at the London and Rio Olympics. These improvements include sensors on the participants’ vests and headgears that can count the kicks they receive accurately.
Mr Goh wanted to include some of these high-tech feats into his own school, along with octagonal mats. Mr Goh recognized that the sport has gone from aggressive to defensive because of these tech improvements. Thus, he needed extra training sessions for his instructors.
Mr Goh invested a lot of time and resources into rebranding and redecorating his Taekwondo school. That said, he is turning a bigger profit so he thinks the hard work of keeping up with the times was definitely worth it.
With our personalized Taekwondo School / Institute Business Loan, we can also help you cover expenses for:
- Rent and security deposits
- Insurance against fire, damage, theft or liabilities
- Floor mats
- Punching bags and other equipment
- Promotional T-shirts
- Marketing campaigns and growth strategies
- Cleaning and catering
- Opening a Pro Shop
- Training your instructors
- Teambuilding activities
Launched in February 2018, SBL Singapore aims to provide financial assistance to all companies including those in the Taekwondo School / Institute industry. We also gather mentors in the taekwondo school / institute / enrichment sector through our Coach-and-Go programme for our clients to attain more information and knowledge on business management. Our objective is to help local Singapore brands grow and enter the overseas market.
With a Taekwondo School / Institute Business Loan, you pay for an inexpensive and reasonable rate of interest on monthly repayments, ensuring that you have enough capital to remain competitive and grow your business. In addition to funding, you will also obtain the mentor-ship and operation assistance that you require.
Max Loan Amount$1,000,000
Min Years to Qualify0.5
Min. Annual Turnover< $100,000