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Due diligenceExpert answer · 1 min read

How do I review a dance studio’s competition team travel commitments?

Ask for the full competition calendar, the deposits already paid, and what families were promised for each trip. Then confirm who chaperones, who books travel and who covers cancellations. Commitments made to parents are as real as signed contracts and often less documented.

Begin with the paperwork behind each event. Ask for registration confirmations, hotel or group-booking agreements, transport arrangements and any entry fees already paid. Match them against the money the studio has collected from families, because a gap between the two shows who is carrying the risk. If trips are funded partly by fundraising, find out where those funds sit and who controls them.

Then look at the promises that were never written down. Coaches often tell families that the team will attend a certain event or that costs will stay at a certain level. Ask the studio owner and a few coaches what has been said, and ask whether any parents have complained or asked for refunds in the past. A short call with a couple of team parents, arranged through the seller, tells you more than a spreadsheet.

Finally, work out how travel affects your own schedule and staffing. Someone must supervise minors, and the same coaches may be away from regular classes. Ask whether the studio carries the insurance that its travel and supervision needs, and let your insurer and lawyer review the arrangements before you commit.

Key takeaways

  • Match deposits paid to families against what has been paid out to venues and hotels.
  • Ask coaches and parents what trips were promised, not only what was signed.
  • Have your lawyer review travel, supervision and refund arrangements before closing.

Sources

This answer is checked against primary sources. Links were last confirmed on the dates shown.

  1. 01
    Business Development Bank of CanadaGovernment
    What is Cash Flow
    bdc.ca·Checked Oct 24, 2026
  2. 02
    Business Development Bank of CanadaGovernment
    How to conduct due diligence when buying a business
    bdc.ca·Checked Oct 21, 2026
  3. 03
    Business Development Bank of CanadaGovernment
    What are the steps to buying a business?
    bdc.ca·Checked Oct 21, 2026

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