These reports are not perfect, and while we will continue to refine them over time, they are a good start. Here are some limitations that we know of. If you have suggestions for how to make them better, please reach out to us!
Time periods are not covered
- We do not cover 3 months, 6 months, or a year of data in a single report yet. This can make it more challenging to evaluate progress over time. It is doable but requires a little more work on your part, pulling each month and looking at the trends on your part. In future we will make this easier.
The reports do not take into account the total expenses of the business
- The profitability sections measure whether you are covering the expense of your instructor vis a vis the amount of value (revenue) they are contributing. However, the profitability measures do not tell you, overall, whether each instructor is profitable given total expenses such as rent, electricity, laundry, etc. If an instructor or a class is really close to $0 on their profitability metric, you can almost rest assured that on an overall level they are unprofitable, so look for instructors and classes whose profitability metrics are nowhere close to $0.
Instructor Retention, as currently described, is an imperfect metric
- Instructor Retention currently measures the % of clients who visit an instructor 2x or more in a given month. However, this number can be misleading if an instructor frequently changes times that they teach, or if some instructors teach only advanced classes where clients are more likely to stay vs beginner classes where clients are more likely to leave. We will be breaking out more specific measures of retention moving forward.
- In the meantime, calculating % of Regulars (3x+ Visitors / Total Unique Clients in a month) is a good proxy for the % of loyal clients to an instructor, and Studio Return Rate is an excellent proxy for how good an instructor is at getting new clients to come back to the studio.
Side by side comparisons
- We currently do not easily provide side by side comparisons of metrics. We are working on this.