Make Money Teaching Music Lessons
One of the most common questions that people will ask is, “How much
can you actually make teaching music
lessons?”. According to the
article, How to Make Money at
Home – Teach Music Lessons, private music teachers charge between $50
and $100 per lesson. If you do the math (which we’ll do in a moment), it
quickly adds up.
In my experience, I’ve met people who have made hardly any money
teaching lessons. I’ve also met quite a few that are making more than school
music teachers. New York City drum teacher John Riley, is in the low six figures.
The private music teachers with the higher incomes all have one thing in
common: they are entrepreneurs. By working on their businesses, in
addition to teaching and growing their own music skills, they were able to leverage
their talents.
Here’s a formula to figure it out how you make money teaching music.
1. What’s Your Current
Rate?
Let’s say my current rate is $80 an hour.
2. Can I Raise My Rate?
I think so…maybe in a few months I’ll raise
it to $100 an hour.
3. How Many Lessons Per
Week?
The key here is to figure out the average number of lessons you teach
per week. Factor in potential cancellations, sick days, and holidays. Your
percentage of cancellations will vary. To be conservative, I would estimate a
general cancellation rate to be 25 percent.
I have 20 students, so my average is 15
lessons per week.
15 Lessons Per Week x $100 = $1,500 Per Week
4. How Many Weeks to Do You
Take Off?
I take off about 4 weeks a year.
48 Weeks x $1,500 = $72,000 Per Year
It’s important to keep in mind that this is a conservative estimate.
Also remember that I’m figuring 15 hours of actual lesson time per week as an
example. So if I add a few more students to my schedule each week, I could
be making over $100,000 a year teaching private lessons and not working
40 hours a week.
This sounds like an awesome part-time job for
me!
Originally article
