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
Nov 12, 2022 - Flu Season Off To A Strong, Early Start
- Influenza is hitting the US unusually early and hard, according to the US Centers for Disease Control and Prevention. Fine arts schools that rely on revenue from performances may suffer if attendance drops. Flu season usually lasts from October to May, peaking in December and January. A record number of people were hospitalized in October. “It’s unusual, but we’re coming out of an unusual covid pandemic that has really affected influenza and other respiratory viruses that are circulating,” said Lynnette Brammer, an epidemiologist who heads the CDC’s domestic influenza surveillance team. Activity is high in the south and southeast and is starting to move up the Atlantic coast.
- 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.
- Charitable giving increased 6.2% year over year in Q2 2022 but was lower than the Q2 inflation rate of approximately 8.5%, according to the Fundraising Effectiveness Project’s Second Quarter Fundraising Report. Gains were largely due to increased giving by major donors but were accompanied by a continuing steep decline in donor acquisition and retention, particularly among new and newly retained donors. “With so much volatility in donor acquisition and retention now would be an excellent time to invest in broad grassroots engagement,” according to Woodrow Rosenbaum, Chief Data Officer at Giving Tuesday. “This is an important way to create resilience within the sector—and within individual organizations—in order to weather economic storms.”
- 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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