I want to open my own Performing Arts School, is it a good time to do this in the current market? -

How hard is to start a small business today? and is a performing arts school profitable?

Before you dance your way into your community s heart, there are two significant cross-currents in this economy that are worth paying attention to:First, of course, is that consumers are worried about their careers and aren t in the mood to commit to major new spending. We ll know a lot more in the coming months as the holiday spending season shapes up, but it looks like a slow-growth Christmas and 2010. That means you would be competing for a share of a non-growing pie. If you chose to do this, you would need to build a serious business plan that would include losing money for at least 18 months to 2 years. The flip-side is equally fascinating, though. Recessions are times when people fold back to those who matter most to them, meaning their family and friends. And they look for ways to improve the quality of life for those people (as well as themselves). So, if you could tap into the market for self-improvement and family growth, you might have something.One other point: Retail space hasn t been this cheap in years. If you were to negotiate hard for a space, you could likely get a great location.As you build your business plan, you will need to take a cold, hard look at whether the school would be perceived as a must-have or a nice-to-have. If it s the latter, you d better make sure you have plenty of pre-paid clients before you open your doors.