1 / 92

Five Keys to Making Money with RMM

Discover the five essential keys to making money with Recreational Music Making (RMM). Learn why RMM is different from traditional music teaching, how to get started, find resources, and the most important things to know. Explore the vast market potential and do the math to see how RMM can boost your sales and revenue.

jgene
Download Presentation

Five Keys to Making Money with RMM

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Course Title Five Keys to Making Money with RMM

  2. Five Keys to Making Money with RMM RMM = Recreational Music Making

  3. Five Keys to Making Money with RMM Recreational Music Making is simply defined as MAKING MUSIC FOR FUN

  4. Five Keys to Making Money with RMM Questions to be Answered: • Why should I do it? • How is it different from what I’m doing now? • How/where do I get started? • What resources/people can help me? • What’s the most important thing to know?

  5. Five Keys to Making Money with RMM FIVE KEYS TO MAKING MONEY WITH RMM: • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • USE AVAILABLE RESOURCES • FIND THE RIGHT TEACHER(S)

  6. Five Keys to Making Money with RMM • SMELL OPPORTUNITY

  7. Five Keys to Making Money with RMM • SMELL OPPORTUNITY DO THE MATH: 78 Million Baby Boomers 20 Million Seniors 75 Million Millennials (12-29) Teens & Young Adults 173 MILLION POTENTIAL CUSTOMERS

  8. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 173 MILLION POTENTIAL CUSTOMERS Gallup says 82% want to play an instrument = 142 million

  9. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 173 MILLION POTENTIAL CUSTOMERS Gallup says 82% want to play an instrument = 142 million Most of them are afraid to try.

  10. Five Keys to Making Money with RMM 82% of people want to play an instrument (8 of 10) 70% 60% 50% Let’s say 40% want to play the piano

  11. Five Keys to Making Money with RMM 82% of people want to play an instrument (8 of 10) 70% 60% 50% Let’s say 40% want to play the piano 30%

  12. Five Keys to Making Money with RMM 82% of people want to play an instrument (8 of 10) 70% 60% 50% Let’s say 40% want to play the piano 30% 20%

  13. Five Keys to Making Money with RMM 82% of people want to play an instrument (8 of 10) 70% 60% 50% Let’s say 40% want to play the piano 30% 20% 10% (conservatively, say 1 of 10 want to play piano)

  14. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 173 MILLION POTENTIAL CUSTOMERS If only 1 in 10 wanted to play the piano, that’s 17 million prospective customers.

  15. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 17 MILLION PROSPECTIVE CUSTOMERS If your market contains only 0.1% (population 300,000) that’s 17,000 interested piano customers in your area. (17 million x 0.1% = 17,000)

  16. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 17,000 PROSPECTIVE CUSTOMERS IN YOUR AREA If you could attract only 5% of them per year, the most serious ones, that’s 850 serious students in your store.

  17. Five Keys to Making Money with RMM • SMELL OPPORTUNITY 850 SERIOUS STUDENTS IN YOUR STORE If 25% of them purchased an instrument, that’s 200 more instruments per year than you’re selling today.

  18. Five Keys to Making Money with RMM • SMELL OPPORTUNITY DO THE MATH: 200 more instruments x $1500 ave retail = $300K sales Population 300,000 = $ 300,000 sales Population 1,000,000 = $ 1.0 million sales Population 3,000,000 = $ 3.0 million sales

  19. Five Keys to Making Money with RMM • SMELL OPPORTUNITY DO THE MATH: 200 more instruments x $1500 ave retail = $300K sales Population 300,000 = $ 300,000 sales Population 1,000,000 = $ 1.0 million sales Population 3,000,000 = $ 3.0 million sales Plus lesson revenue

  20. Five Keys to Making Money with RMM SMELL OPPORTUNITY

  21. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE

  22. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program”

  23. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons)

  24. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%)

  25. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%) • Goal is a high level of performance

  26. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%) • Goal is a high level of performance • Uses a structured curriculum with recitals

  27. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%) • Goal is a high level of performance • Uses a structured curriculum with recitals • Teacher is the judge of success

  28. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%) • Goal is a high level of performance • Uses a structured curriculum with recitals • Teacher is the judge of success Many students cannot thrive in this setting… and quit.

  29. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • You say: “I’ve already got a successful teaching program” • Traditional Music Teaching (through individual lessons) • Most are teaching achievement (to top 1-2%) • Goal is a high level of performance • Uses a structured curriculum with recitals • Teacher is the judge of success Many students cannot thrive in this setting… and quit. We’re missing the “rest of the iceberg.”

  30. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment

  31. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • No stress

  32. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • No stress • Flexible curriculum and no recitals (solo playing always voluntary)

  33. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • No stress • Flexible curriculum and no recitals (solo playing always voluntary) • Student is the judge of success

  34. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • No stress • Flexible curriculum and no recitals (solo playing always voluntary) • Student is the judge of success • Everyone succeeds

  35. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • Reaches out to adults, seniors, singles & teens who just want to enjoy music (173 million prospects)

  36. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • Reaches out to adults, seniors, singles & teens who just want to enjoy music (173 million serious prospects) • Taught mostly in groups (a key factor in its success)

  37. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • RMM teaches enjoyment • Reaches out to adults, seniors, singles & teens who just want to enjoy music (173 million serious prospects) • Taught mostly in groups (a key factor in its success) • The interaction among fellow students is as important as the interaction with the teacher.

  38. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE (SUMMARY) RMM TRADITIONAL Enjoyment Achievement

  39. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE (SUMMARY) RMM TRADITIONAL Enjoyment Achievement No Stress Performance Stress

  40. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE (SUMMARY) RMM TRADITIONAL Enjoyment Achievement No Stress Performance Stress Primarily in Groups Primarily Taught to Individuals

  41. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE (SUMMARY) RMM TRADITIONAL Enjoyment Achievement No Stress Performance Stress Primarily in Groups Primarily Taught to Individuals Everyone Succeeds Not All Succeed (Many Quit)

  42. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE (SUMMARY) RMM TRADITIONAL Enjoyment Achievement No Stress Performance Stress Primarily in Groups Primarily Taught to Individuals Everyone Succeeds Not All Succeed (Many Quit) Huge Market Potential Limited Incremental Potential

  43. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS

  44. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 1: In-Store RMM Classes

  45. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 1: In-Store RMM Classes • Need space for group lessons

  46. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 1: In-Store RMM Classes • Need space for group lessons • Helpful to have a digital or acoustic piano lab setup

  47. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 1: In-Store RMM Classes • Need space for group lessons • Helpful to have a digital or acoustic piano lab setup • Need to find the RIGHT teacher

  48. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 2:Mobilize a Network of Teachers

  49. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 2: Mobilize a Network of Teachers • Encourage teachers to teach RMM in their own studios

  50. Five Keys to Making Money with RMM • SMELL OPPORTUNITY • UNDERSTAND THE DIFFERENCE • UNDERSTAND THE OPTIONS • Option 2: Mobilize a Network of Teachers • Encourage teachers to teach RMM in their own studios • Other venues—churches, colleges, senior centers, recreation centers, retirement communities, companies

More Related