With the booming housing market, it’s become more and more difficult for dance studios to keep up with demand.
As the number of studios has risen, so has the number who struggle to pay their rent.
With rent soaring in Sydney, Melbourne and Perth, studios are looking for ways to stay afloat.
Dance studio owners say they are seeing an influx of people who are keen to get involved in the industry, but the rent can be a bit too high.
ABC News: Dance studio rentals and tips to stay ahead of the trend Listen to this story Now Playing: Dance studios fear rising rents and low rents may spell trouble for them ABC News Breakfast: How to stay in touch with your favourite artists after the rise of Spotify, Apple and Apple Music, and how to stay safe ABC News Morning Show: How can you stay up to date on the hottest new music news and trends, with a podcast, podcast chat and exclusive interviews from across the ABC, ABC News Radio and ABC TV One.
But not all studios are struggling to keep the lights on.
One Sydney studio owner is keeping a tight lid on rent, despite the booming economy.
ABC Radio Melbourne: Dan McGarry is running a business with his partner in the city, and they are paying their rent on time and under budget.
“It’s hard because you want to get in there, but you’re also worried about what will happen to your studio and what it’s going to look like 20 years from now,” Mr McGarry said.
“I have a lot of confidence in our finances.
I have a great business here.
I can’t say that we’ll be able to survive on just what we’ve got right now, but I’m confident we’re going to be able for at least another couple of years.”
ABC Radio: Dance Studio Rentals and Tips to Stay Ahead of the Trend Listen to the full interview with Dan McGarries and his partner on ABC Radio Morning Show on Monday 8 December at 6:30am and 7:30pm.
“We’ve got a pretty good relationship with the council, which is a huge asset for us,” Mr McKee said.
They’ve got the support of the local community.
“They’ve got people in the community that have worked really hard on behalf of us, and the community has come up to us and said ‘we really appreciate your work here, we really appreciate you doing this and we’re very grateful for that, but it’s just so expensive now’.” ABC News 4: How a $2,500 apartment in the Sydney CBD can make your rent soar, and what you need to know about rent increases.
Listen to Dan McGarrs and his business partner in Sydney on ABC News 3 on Monday 16 December at 8:30:00am and 9:00:00pm.