Using 2020 Armor During Coronavirus to Generate Revenue
Most School owners we work with have had to go full virtual to maintain the critical connection with their students during the Shutdown. Which means that you have amazing gear to train with. But you don’t have a school to train at.
Don’t worry. You can still use 20/20 Armor to generate extra income for your school and build a deeper connection with your students to keep them invested in their training during this difficult time. In this article we give you three great strategies for making the most out of your 20/20 Armor fleet while you wait for your doors to reopen.
- Buyback Program
- Renting out your units
- Making training with 2020 Armor a prize for your best students in each of your classes
Buyback Program: Make Extra Income + Create Dedicated Classes
You have amazing students and you want to give them an incentive to up their game during the Shutdown. So offer them the chance to buy units you aren’t currently using. With our new mobile app, they can track their speed, timing, stamina and power while training at home with real numbers based on hard science that keeps them accountable and pushes them to be their best.
A smart approach for a buyback program would be targeting your more serious color belts and black belts who have already demonstrated their commitment to their training.
You can start a pilot program with these students where you offer individualized coaching to make them stronger, get better stamina and faster reaction times using our app to measure their progress.
Or you could have an online class specific to these students.
After all, what’s the purpose of letting your chest guards stay in your dojang when no one can be there? With this one simple step you have made additional income, you’ve secured retention of your most committed students and you have created an elite unit that the rest of your students will long to be a part of.
Renting Out Your Equipment: Up Your Students' Game + Make Back Your Investment
You might not be interested in selling your units. After all, maybe the shutdown really will be over soon and you’re going to want those units to attract new recruits at trade shows, retain the students you have with actionable analytics and thrive with revenue streams with faster, more exciting tournaments. But what can you do right now to make extra income with the units you have?
What about renting your units to students who are the most dedicated to their training or have parents who are the most interested in keeping their kids occupied?
If you charged just 25 dollars a week, that’s a 100 dollars extra per unit rented per month. With just 6 units you are 600 dollars extra income every month. In less than 6 months you have paid back your entire investment and you can make $3600 dollars in the six months after that. If you’re worried about contamination, know that our equipment is made to be wiped down and disinfected. You can also just rent each unit to one student each for the duration of the pandemic.
Want to Encourage Your Students to Do Their Best?
Introduce competition into the classroom. Every couple of weeks you can give your online classes a specific challenge. The winner of a series of challenges can get the ability to train with 20/20 Armor at their home. During this time they’ll be given a mission to beat their baseline scores in reaction, stamina and power and you’ll help them with one on one training.
By giving them measurable scores and individual instruction you can convert an enthusiastic student into a lifetime member of your dojang. This will also encourage other students in the class to up their game so they can win the next challenge and get their own mentorship.
When your school is back in session you can make these challenges weekly and give each of your students a chance to upgrade their abilities, helping them cross the barrier from “my parents made me do” this to “I never want to leave”. There’s a huge power in being able to measure your improvement over a daily and month basis.
Summary
These three simple strategies can be used anytime, whether you are in a shutdown or not. They will help you gain extra incremental revenue, radically increase your retention and give you more equipment to run even better in house events when your school reopens.
Want to get started making attracting more students, increasing retention and thriving with new revenue?
