Fine Arts Schools
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 14,700 fine arts schools in the US provide instructional services in the arts, including dance, art, drama, and music. Fine arts schools include a broad range of educational providers, including art schools (except commercial and graphic arts), dance studios, drama and theater schools, and music schools. Degree-granting institutions are not considered fine arts schools. Most firms are small, independent organizations that operate within a local market.
Vulnerability To Economic Conditions
Demand for fine arts education is sensitive to economic conditions and typically drops during periods of financial uncertainty.
More Dancing
Demand for dance instruction has benefited from the popularity of dance-inspired TV shows and interest in dance as an alternative to exercise.
Industry size & Structure
The average fine arts school firm employs between 6-7 workers, and generates $362,000 in annual revenue.
- The fine arts education industry consists of about 14,700 firms that employ 100,300 workers and generate $5 billion annually.
- The industry is highly fragmented; the top 50 companies account for 11% of industry revenue.
- Degree-granting institutions are not considered fine arts schools. Most firms are small, independent organizations that operate within a local market.
- Franchises are popular in the fine arts industry. Franchises offer pre-made curriculum and lesson plans to franchisees to ease the start-up process. Arthur Murray International and Fred Astaire Dance Studios are large dance studio franchises. The School of Rock music school franchise has over 280 locations.
Industry Forecast
Fine Arts Schools Industry Growth
Recent Developments
Mar 5, 2023 - Art Has More Than Aesthetic Value
- Art is an important contributor to physical and mental well-being, according to Susan Magsamen, co-author of an upcoming book on the new field of neuroaesthetics, which studies the brain’s responses to art. There are some similarities to mindfulness and meditation, and to a flow state, Magsamen told The Washington Post. Part of what’s happening in those kinds of very focused spaces where you’re not thinking about 100 other things is that you’re letting your mind go, and that brings you to a stress-free state.
- More public-health officials and doctors are encouraging masking to protect against respiratory diseases flu and RSV, in addition to Covid-19. Experts disagree, however, on whether masks are enough, and whether people are willing to wear them after the country has largely moved on from pandemic precautions is another matter. “I’m not optimistic” that people are willing to mask again, says Eric Topol, director of the Scripps Research Translational Institute in La Jolla, Calif. “There’s such a reluctance to go what is considered backward, even though it’s actually forwards in terms of helping one another.” Masks help provide protection against flu and RSV, medical experts say, as do other precautions. RSV, a common respiratory virus, also often spreads through expelled virus particles on surfaces, so frequent handwashing and cleaning of contaminated surfaces can help fight its spread, says Scott Roberts, an infectious disease specialist at the Yale School of Medicine.
- Inflation is blunting the impact of charitable giving, according to Giving USA. Consider a donor who gave $10,000 to their charity of choice in 2021. To have the same impact in 2022, that donor would have to give about $10,700. Donors are more likely to make that $10,000 gift again, however, which can blunt the impact they’re able to make on beneficiaries.
- Federal and local health officials are leaving it up to people to assess if they need booster shots, whether to wear a mask, and how long to isolate after a positive test, according to The Wall Street Journal. Businesses, schools, and other entities are scaling back specific guidelines. The lack of effective treatments, vaccines, and widespread testing early in the pandemic resulted in social distancing mandates and lockdowns. The response is becoming more tailored to people’s own health and appetite for risk, as those tools help blunt the worst outcomes as the virus continues to spread, according to public-health experts. “The history of public health has been a constant tension between individual-level and government or community-level intervention,” said Megan Ranney, an emergency-care doctor and academic dean of the Brown University School of Public Health.
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