3 answers

What college can I go to to become a Taekwondo dojo owner?

Asked Justin, Texas

I want to become a dojo owner because I am a black belt in Taekwondo and I wanted to grow up and start my own dojo. I'm hoping to get my fourth degree black belt so that I can become a master and become even better than I already am. #entrepreneur #buisness

3 answers

Michael’s Answer

Updated Ann Arbor, Michigan

To be honest, you don't need a college degree to do this. If you want to get a college degree anyway, then I think a business degree is the right answer, but I don't think Finance is so crucial. You'll need a loan of some sort to get started from friends, family or a bank, but understanding option pricing, valuation, etc will not be that helpful in getting a loan. I'd say Marketing would be most useful as attracting customers is the biggest hurdle for new businesses. After that, I think Accounting would also be helpful to help you always know the true health of your business. I think any decent business program would teach you enough marketing and accounting to get you what you need. If you want to own a dojo, I don't think I'd spend the money to go to a big name school. Save the money for the business.

That said, you might want to go to college to increase your earning potential while you save up money to fund this venture, or to increase your earning potential in case you have to work while you're growing the business and waiting for cash flow. Or, you might want a degree as a backup plan in case the business fails.

Aside from that, as I said, I don't think a degree is vital. Instead, you probably need:

(1) Money. Either you save it up or someone loans it to you. Unless you a current source of income, you'll likely struggle getting a loan from a bank, so that leaves friends and family.

(2) Advice. Find someone who owns a small business that can help you figure out how to get started and answer questions along the way. This can be helpful in creating a business plan, choosing real estate, designing and executing the build out, developing a marketing plan, etc, etc.

(3) Ideally some sort of draw. Have you won big tournaments? Built a name for yourself in the sport? Also, are you good with people? Will kids and/or adults enjoy taking classes from you?

Steve’s Answer

Updated Chicago, Illinois

Hello Ken,

While there are multiple routes to achieve your goal, I'll focus on two diverse paths. The first would be to get an education in business management. This can be an associate or bachelor level degree that is offered at almost every university or junior college. I would also focus on finance since you wish to be an owner and that will require capital related resources and decisions. A second path might simply require going to work at martial arts studio as an instructor. Based on your advanced degree, this you may already have done. Ask for the opportunity to be an assistant manager or check for opportunities listed on job sites for Dojo managers. I would think with your experience, you would be a good candidate. This would give you hands on experience with the administration and management requirements of the business. Of course, the combination of both paths outlined would most likely be ideal. I hope this helps.

Joe’s Answer

Updated Thousand Oaks, California

I would recommend you research schools with strong entrepreneurial studies program. Looking on the internet, I note that Babson in Massachusetts has a program very highly rated. I believe Entrepreneur Magazine sponsored the ratings of schools.

You are very wise to seek out ways to start your own business doing something you love. Good luck with your education and your dojo.