057 – Lauren Bateman on Building a Multi-Location Music School
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Read the full transcript for this episode here.
Summary
Today I’m talking to the owner of a music school in the Boston area who started by teaching guitar out of her spare bedroom and now has a school with three commercial locations and a staff of over 30 teachers serving more than 500 students.
We talk a lot about finances in the conversation. More specifically, how Lauren decided when to bootstrap and when to take out a loan to finance her business growth. This episode provides a really helpful counterpoint to last week’s bootstrapping conversation with Jaclyn Bradley.
I hope listening to both last week’s episode AND today’s episode gives you insight as you think about your own business financing options.
Resources
Podcast episodes:
031 – Ken Thompson on Building a Music School that Pays Sustainable Wages
056 – Jaclyn Bradley on Bootstrapping a Music Studio During COVID-19
Books:
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
The Richest Man in Babylon by George S. Clason
Traction: Get a Grip on Your Business by Gino Wickman
Clockwork: Design Your Business to Run Itself by Mike Michalowicz
Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Connect with Lauren
Website: www.lbmusicschool.com
Facebook: www.facebook.com/lbmusicschool.com
Instagram: https://www.instagram.com/lb_musicschool/
YouTube: YouTube.com/LaurenBateman