There are different ways to do/show your ranking system. Here are some of them explained:

1.No colored belts.
 One of the great things in Aikido is that everyone is equal. The color of your belt shouldn’t define if you would like to practice with that person or not. In this case a training card helps the kids to see their progress (and makes visual what color they are, compared to judo or any other sport).


2.Colored belts
 Like in Judo. You start with white, after 6 months you can test for a colored  (little colored part of the belt). Once you have the knowledge of the next level you’ll do a belt test. So in short it goes by colored slips/belts. 
(white-yellow-orange-green-blue-brown)


3.Belts with stripes
 Like in Brazilian Jiu Jitsu you start with a white belt. After your first exam, you earn your first stripe. After that, you can earn them by doing your best. Once you earned 4 of them it’s time to move on to a belt. There for you have to do an exam, of course. This system uses (white) tape, and on colored belts, but you can use your own. 


4.Badges
 Another way of doing it can be by making badges. You make embroided badges. These can have different icon or logo’s on them and put in different colors. There for you don’t have to change colored obi’s.


As you can see there are many different ways to show your student(s) how they progress. The question is how do you you see yourself doing this?