It is not difficult to get a six-figure salary as an EMS studio owner, but you need to plan out your strategies wisely and budget accordingly. The simple rule is that you can pay yourself when you are making a profit from your business and that is only possible when your expenses don’t exceed your revenues. Your revenues are determined by many factors and that means your salary as the EMS studio owner will not be fixed. It is always dependent on the location of your EMS studio, hours invested, monthly expenses and marketing. The more customers your studio holds, the more profit you make.
The major factor that determines how much you will make as an EMS business owner is where you are located. Let’s suppose you are located in a high-class area, you might easily profit there. High-class areas means that the EMS studio will most likely be in a location that has great visibility and high accessibility according to the target audience. But if your EMS studio is in a low-income or ghetto area there is a probability that you would have to struggle.
Besides the location, your management know-how will also determine your salary. Member retention is always directly impacted by the EMS studio owner’s management style. Happy and satisfied customers bring greater profits as they will refer their friends and family to your EMS studio, but if you can’t effectively manage your business, then it might be a struggle to maintain your popularity and this can become a cause for your studio’s downfall.
The salary of an EMS studio owner also depends on the hours he is investing in his businness and the side staffing costs. On average, the time spent working at their EMS studio is about 40 hours per week. How much time the owner spends at their studio greatly affects the income he makes. Working more hours can reduce your staffing costs which will lead your income to increase. You need to manage your roles as both the studio owner and the EMS trainer for reducing monthly costs. The only drawback to this approach is that you might burn yourself out if you try and do almost everything around the studio yourself. You won’t find the time to plan and grow your business if you keep doing EMS training sessions and managing the studio simultaneously. You need to find the perfect balance so that you can improve your location and manage it as well without having to stress out your life.
Monthly expenses
The monthly expenses of an EMS studio owner in the United States can vary from $3,000 to $7,000 per month without adding the salaries of trainers. You pay the utilities, insurance fees, marketing and advertising fees and other miscellaneous expenses. These are the recurring costs you would need to pay every month. If we add the salaries of the EMS trainers or other staff working, for let’s say 2 trainers and 1 receptionist, it would cost around $25,000 per month. So you can expect to pay anywhere from 35,000 to $45,000 for your total monthly expenses as an EMS studio owner.
So, how much does an EMS studio owner make?
According to recent reports, an EMS studio owner in the USA can make anywhere from $550,000 to $897,500 per year depending on the above-mentioned factors. A good average would be $569,794 per year which makes $74,791 per month. These figures will vary due to the state in which the studio is operating in.
Final Verdict
There are many factors that affect the salary you earn as an EMS studio owner, from the location and layout to the management structure. You need to be consistent and manage your finances well so that you do not put too much on your plate. To become a EMS studio owner who has a six-figure salary you need to focus on your goals and work your way there steadily, growing your business alongside you.