Voice teachers who are just starting in the industry can find it difficult to learn how to grow a music school. For one, most teachers major in their musical instrument of choice and do not always have a formal background in business. It can be difficult to determine a pricing structure that appeals to students while also ensuring a sustainable source of income.
Setting your rates too high can mean singers not wanting to book you for lessons. They will choose competitors who can offer lessons at a lower rate but with just as much training and a comparable reputation. On the other hand, setting your prices too low might result in you struggling to make ends meet, or in your students not valuing your service.
Before you begin offering voice lessons, you must learn how to set fair rates. Here are our tips for voice teachers looking to price their lessons professionally:
Inquire about the prices of other music teachers in your locality. Check the types of lessons they provide, the number of sessions included, and the baseline skills required of students who wish to enroll. You should not price your lessons too far above or below their rates. At most, you can offer an introductory price for the first few people to sign up for your classes.
If you are a music teacher who does not have direct competitors, you can check the market price of lessons in your city. Voice lessons are priced slightly higher than lessons for musical instruments; if there are absolutely no voice lessons in your area, you can start with that.
Teachers with formal training in voice or vocal pedagogy should charge more than those who do not have official credentials.
Likewise, if you have experience in theater, in professional singing, or in other relevant fields, use that as your basis for premium rates. Keep in mind that you need to set your prices low enough if you’re a complete beginner in the music lesson business.
Teachers who are part of professional voice teacher organizations can also command higher rates than competitors, as they enjoy the perks of having access to ongoing development. At the same time, your rates should be low enough so as to not put pressure on you to deliver at a rate you might not be able to just yet.
When you have a completely full schedule every week, to the point of needing to make a waiting list for students, it’s a sign that it’s time to raise your rates. At this point, you have built a solid client base and your reputation generates interest on its own.
Earning credentials, such as completing a new course or graduating from a program, is also a reason to raise your rates. You can also start charging more if you hadn’t raised your prices in a while, or if you hadn’t even raised them since you started.
“Reward” regular students by not increasing their rates and only offering the new ones to the new enrollees. You should also take into account students’ capabilities, and offer discounts to talented students who are struggling with finances. This is a great way to build your name and work with young talented musicians. While it may result in slightly less income in the short-term, it could very well help you earn more later on.
Offering voice lessons requires you to think like a businessperson. You cannot stay in the creative, musical mode when you’re trying to build a school. You have to know how to raise your rates, promote your studio, and get the word out there about your practice.
For more insights on music studio marketing, get in touch with Grow Your Music Studio today. Whether you are a beginner or are looking to revamp your studio, we can help you attract quality students and build your business today.