Guest,I worked for a number of years at a a community arts school, and the parent/child classes, in music, art, and creative movement, became the most popular offerings--the problem came from finding people who were qualified to teach the classes.
The secret of success was simply to get enough people for a first class--word of mouth did the trick after that.
As the parent of a five year old, I can assure you that there are never enough good activities for children, and money is often not as much of an issue as people make out--we sink tons of money into things like trips to SESAME PLACE, and LEGOLAND--