Navigating a Parent-Child Dynamic
When Rhoda Burns and her family relocated to Aiken, South Carolina in 1982, she struggled to find work. Rhoda was an experienced dancer and had a background in dance instruction, but none of the existing dance studios would hire her. She was perceived as an outsider and treated accordingly. Then a former boss intervened, offering Rhoda $500 and a variable speed record player. He told her to “take the music, take your records, and go start your own business.” Rhoda opened Burns Dance Studio with a clear vision—to share the joy of dance with the local community. One of her first students was her nine-year-old son, Corey.
Forty-two years later, Corey is the second-generation owner, and Burns Dance Studio has become a local institution. The studio offers classes for ages three and up in various dance styles, including ballet, tap, jazz, hip hop, tumbling, and contemporary. In addition to Corey, who teaches many of the classes, Burns Dance Studio employs a staff of experienced teachers and frequently wins the “Best Dance Studio” award as voted by the readers of the Aiken Standard. Rhoda and Corey take satisfaction from their work that goes beyond earning a living. Rhoda founded the business to share the joy of dance with others, and that same passion is why Corey has chosen to make Burns Dance Studio his life’s work, too.
The formal transition of ownership from mother to son began in 2013. Although he had not planned to take over the business, Corey was well qualified for the role. Even as an adult, he had continued to train and perform as a dancer, and he knew the Burns Dance Studio business well. While he was focused on a career in public school administration, Corey continued to assist his mother with studio tasks on the side. By 2013, when Corey was serving as a school principal, he realized that Rhoda needed more help to keep the studio on track. It became impossible to do both jobs properly. In June 2013, Corey left the school district to focus on the studio full-time.
Corey believed that the business had incredible potential value, but that it was in dire need of a revamp if it was to survive. He was willing to do whatever it took. For Corey, Burns Dance Studio has been an all-consuming labor of love. Since taking over, Corey has worked seven days a week from August until March, spending almost all his time in the studio, registering for conventions and competitions, assembling music, preparing for classes, managing staff, and handling the finances. Under Corey’s leadership, Burns Dance Studio has also adapted its culture. Moving away from Rhoda’s more traditional methods of dance instruction, Corey has worked tirelessly to create an environment of calm where children learn not only a love for dance but also discipline, time management, and other life skills. The studio’s motto is “Dance Training to Reinforce Life Training.”
Corey’s most significant decision was to expand and update Burns Dance Studio by building a new studio. Before incurring the debt, which could have jeopardized the business if expected revenues failed to materialize, Corey conducted due diligence. He met with a succession planning group and with lawyers to make sure that he had the necessary authority and that the project was consistent with his fiduciary obligations. He hired a CPA to review the company’s financial situation. And, not without difficulty, he found a bank willing to provide financing. During the underwriting process, the bank investigated not only the studio, but also Corey and his personal life. For a small, family-owned business, credit worthiness is a holistic inquiry. Rhoda continued to help in any way she could, including using her own home as a line of credit to support the construction cost for the new studio. Construction began in 2015, was completed by 2016, and, as Corey hoped, dramatically improved the business.
Rhoda has officially retired, but she remains very much involved with Burns Dance Studio. She teaches two to three classes a week, handles all the apparel, and helps to maintain the studio spaces. Not surprisingly, Corey and Rhoda sometimes disagree on how things should be run. As the founder, Rhoda feels a continuing obligation to provide guidance and believes that she should have the prerogative to make decisions. It is not uncommon in a family business for the older generation to have difficulty letting go. (In a non-family business, once the business is sold, the previous owners typically have little involvement with the business going forward). Still, Corey understands his mother’s passion for the studio and tries not to let philosophical differences negatively impact their relationship. For her part, while leaving the business to Corey was difficult, Rhoda respects his judgment and trusts him to maintain the legacy that she built.
There have been external challenges, too. Notably, Corey described the COVID-19 pandemic as a “train wreck.” Although the studio survived, it struggled to return to pre-COVID numbers. Not only did the pandemic result in three months’ worth of lost profits, it also required significant effort after reopening to make parents comfortable putting their children back into classes. To rebuild numbers, Corey has focused on learning new marketing techniques, especially via social media. Like other small businesses, Burns Dance Studio has begun to use popular media platforms to target the desired audience. As the current owner, Corey understands that he must innovate and that the business model he inherited is a flexible foundation, not a fixed firmament.
In sum, Burns Dance Studio illustrates why the child of a founder is often the best choice to take over a business. Corey grew up in the business, and he is fully invested in its future. Few if any outside owners could have brought that same passion to the role. Corey readily admits that navigating the parent-child dynamic has been challenging at times, but Burns Dance Studio’s continued success is a testament to the perseverance of Corey and Rhoda and their shared entrepreneurial spirit.
[Source: Corey Burns interview 6/21/2023]