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!