Master Nominee Lauren Minnich of ATA Martial Arts Wyomissing came up with a brilliant idea.
She designed a rental program for her 20/20 Armor gear that not only is being instituted at her school, but one she wants to introduce to other owners of 20/20 Armor so they can make added revenue in this difficult time. Without using 20/20 Armor for in house sparring events or recruitment events she calculated she could make almost 30K of passive income a year with her rental program.
What is the 20/20 Armor rental program?
The rental program is simple. School owners rent their 20/20 Armor to students on a weekly basis. The students use the gear to track their stamina, reaction time and power using the 20/20 Armor mobile app to create a baseline in their first session. The school owner provides private lessons to improve student’s scores. At the end of the week they return their vest, the school owner sanitizes it and gives it to the next student in their waiting list. (An extension opportunity is a 4 week program for your most serious students)
Unleashing Data Driven Private Lessons
The program gives your students their first taste of data driven training and creates a deeper level of commitment and accountability between instructor and student based on empirical metrics for success. You can charge $50 to $150 dollars a week dependent on the income range at your school and the amount of personal lessons you connect to their rental program.
A welcome side effect of this program is that giving your students real metrics they can strive towards on a weekly basis you’ll increase retention and make them more serious martial artists.
How You Can Make 30K In Passive Income With Your Rental Program
Master Nominee Minnich’s plan has already been a huge success at her school. Now let’s talk about her rental program and how you can institute it at yours.
Note: Master Nominee Minnich began her program with 4 vests. We suggest using 6. Within 6 weeks of rentals at $100 dollars a vest you’ll have paid off your entire investment and will be making $600 dollars every week after that in new revenue. So 6 weeks to pay off your intial investment and then 48 weeks to make $28,800 in what amounts to be passive income. Ready to get started?
2020 Armor Rental Plan Roll Out
20/20 Armor Rental Program Phase 1 – Allow instructor trainees to be the first to demo/rent and ask them to film it for marketing purposes at discounted price ($75/week)
- Students pick up units on Friday night, have a special class (30 minutes) on Saturday and set their stats, then check back in with her on Tuesday and Thursday (15 minutes each); (rental breaks down to $14/day and that doesn’t include the value of 60 minutes of training which is usually $150 anyway). Units are returned by lunchtime on Friday, sanitized, and back out again by 3 pm.
20/20 Armor Rental Program Phase 2 – Allow high level (Black Belt) students “first dibs” on the rentals at full price ($100/week per rental)
20/20 Armor Rental Program Phase 3 – Allow mid-level (intermediate and advanced) students to rent the units (offer first to Leadership, then only to students who have purchased their safety gear from us; this prioritizes serious students who have a large financial investment in the studio over students who are newer or haven’t invested as much)
20/20 Armor Rental Program Phase 4 – use additional income to purchase 6 more vests (which takes us to 12 vests) and use 10 in-school (assuming classes have resumed following COVID-19 shut-down) while still renting two out per week. Then use that additional income to purchase 4 more and rent 6 per week. (6 rented per week * 48 weeks per year = $28,800 additional “passive” income)