Deanna,
Look at this issue from another direction. What (of value) can you purchase
for $25? One bag of groceries? A tank of gasoline? One hardcover book? Any
way you look at it, $25 is really not a lot of money. You're an expert who
has invested many years and a great deal of money, thought and energy to
learn your art. Your rates should reflect that.
If you teach 7 hours per day, and take a 2-week vacation, you're earning
$43,750 a year. But that's gross--you also have to figure your costs of doing
business, your health insurance, self employment tax, retirement planning
(nobody's going to set up a 401K for you) and you are actually netting much
less.
I'm with Randy. Start charging at least $40 with new students, preferably
$50, and start increasing what you charge your current students as well. You
may want to raise them incrementally to make it easier for them to adjust.
I used to work with a wonderful teacher who did not charge a great deal for
lessons. I started with her at $25 per hour, including accompanist (this is
years ago) and eventually she raised her fee to $40 per hour. Even at with
that increase, she was a tremendous bargain. When she passed away, I looked
for a teacher in NY, and the woman that I decided to work with charges $115
per hour (don't be too shocked, there are others who charge even more) and
she has been worth every penny. It was a hard adjustment for me, but an
investment that I made in moving my technical skill to the next level and
opening new doors.
Last but not least, people value what they have to pay for. I do a
considerable amount of freelance writing, and I used to work for much less
than I do now. I was nervous about charging more, but found that people were
happy to pay it.
Judy
PS--With higher prices you might also attract higher level students.
|
|  |
