The ClickForLessons blog had another interesting post (I was reading back into the archives) I thought worth mentioning. The issue of pricing lessons has always been a vexing one. How do you prevent undervaluing yourself without pricing yourself out of the market? I think these figures wouldn’t fly in my market:
If you want to make $100,000 this year, you can get 200 students to pay you $500 ($20 for half hour lessons, twice a month). You’d also be working your rear-end off – 6 days a week – and needing a support staff.
Or, you can have 60 students that will take two 1-hour lessons a month at $70 an hour. In the latter scenario, you could work Mon-Thurs and have a three day weekend every week – while making $100K. Typically, the person paying $70 vs. $20 also tends to be more serious and stay with you longer (thus avoiding churn and turnover).
I recently “gave myself a raise” and am charging $17/half, $30/hour. Upon obtaining my MM, it’s a sure bet that’ll go up. I could see charging $70 after a decade of pro experience, but don’t read the CFL blog and get the idea that you can demand those prices fresh out of school.
I do indeed like this reality check, though:
The average plumber charges $85 for a house call – whether it’s 10 minutes or an hour – then $85-$100 per hour thereafter. I’d say you’re adding more long-term value than my local plumber, wouldn’t you?
“The average plumber charges $85 for a house call”
This is true, and considerably higher in some areas.