What is retention and how important is it? Retention is simply, how many students as a percentage are quitting each and every month. An example is if you have 100 students in your school and 5% quit this month, you know have 95 students. If your school has 300 students and 5% quit, you now have 285 students.
These number can be very sobering! The trick is of course to enrol more students than you have quit! So lets look at this again.
Example 1
School A has 100 students with a 5% quit rate, they need to enroll 5 new students each month just to keep even. To grow they need to either enrol more students, or drop their quit rate!
Example 2
School B has 300 students with a 5% quit rate, they need to enrol 15 new students each month to break even! WOW they is an even more difficult task. If they don't enroll 15 new students they are losing ground. This school must look at reducing the number of students quitting as well as getting new students.
From these example you can see how important retention is! 5% is also well below the average for most martial art schools! If either school can get the quit rate down to 3% they make the job of growth far easier!
Run these number for your school and see how you are doing!
