Financial Challenges Support Group
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Hi everyone-Well I've decided to stop going crazy looking for a job-I've been looking since I was laid off in May,2008. I am going to start giving piano lessons. I did this when my husband first left us, but after a few years I was able to get to get a full time job. But I do play the piano, and decided to this again. I just finished fixing up my back room for a piano studio, and can use that. I think that this might be easier for me with my medical problems (breast cancer-in remission, lupus, fibromyalgia, DDD, and post concussion syndrome). Do you guys think this will be able to work, considering the economy and peoples financial circumstances? As I have mentioned in other posts, I am in danger of losing my house because I can't pay my property taxes. If I can prove to my bank that I have a job, then I will be able to take out a home equity line of credit and can pay my taxes. If I am self employed like this, how do I prove to the bank that I do have a job-just not a traditional job. And how long do you think I will have to be in business until they will believe that I will be able to make payments on the loan. Right now, I am living on unemployment, and I think it will take a while to get enough students to equal that amount. Do you think this is a good direction to go? I have put off doing this, really hoping that a regular job would turn up. I don't want to get a bunch of kids signed up, and then have to tell them that I can't teach them because a job came up. So this is a decision I really need help making. What do all of you think? Do you think this is doable? Thanks for any guidance you can give me. God Bless! Kathy
Sorry to hear about how things have been going lately. I'm praying for you that you'll be able to save your home :D
Since I've never been self-employed per se I don't know too much about that aspect. But I have been public and private tutor before and like a private piano teacher I think they are some what very similar from reading your post.
As a public tutor, all the students I had were of course through the university and I was paid by the university regardless of how many students I had so it wasn't too much of a big deal . But as a private tutor which was mainly a hobby all the students I had were people that I knew well since one safety wise I didn't fell comfortable going to lord knows whose home since you just never know what weirdo is out there; or they were students that were referred to me by friends or former colleagues that I knew pretty well and trusted their judgment.
From experience I can tell you that if you are looking to be a private piano tutor as your job and not as a hobby, I would definitely look into self-employment laws for your state, especially regarding your liability for local state a federal taxes. I would also be sure to look into any kind of legal contract (like in-home daycare providers do) that you could make your students or their parents sign, mainly as a matter of protection for you. Your contract would outline your fees when they HAVE to pay you and how often weekly monthly, forms of payment you do or don't accept, your cancellation policies, do they have to pre-pay for so many lessons first, when they have to give a quit notice etc.
Also, if any legal battles ensure over lessons you'll have the proof you need for court, in case the parent refuses to pay you. Plus court dates can take a while to get.
As for students, I would definitely start with people I knew first, and whose judgment you trust then branch, unless you don't know anyone personally first that needs a piano tutor. By starting w/ friends first you have a bit of the upper hand because they can give you a good idea somewhat of your potential students reliability i.e. they could tell if the student would or wouldn't come on time, if they are known to stiff people or jerk them around when it comes to payment, if they write bounced checks all the time etc.
In addition, unless your really familiar w/ all of your students I wouldn't start w/ anymore than 5 or 6 students at a time. Mainly so you aren't overwhelmed or worn out by the middle of the week
. From experience 5 or 6 students sound like a lot but it isn't if its spread over a week. Also, if possible I wouldn't schedule clients back to back unless they are vigilant about coming to your home at least a good fifteen min. before their lesson every time. I can't tell you how many students or parents I've had ask if they have to pay the full amount because THEY came late and had only a 40 or 45 min session instead of a full hour.LOL!
Once you get your schedule going and find out which students are reliable and which aren't, its usually smoother sailing from there. Just make sure you have a preset budget first of how many students you definitely need and if possible do try to save the most you can at least the first three months From experience the hardest hit I have ever been for losing students or having them scale back was in the fall/winter, because of holidays and illnesses like the flu-which I actually got one year from a couple of students
Especially between Dec 1 and Jan 1 because of Christmas break where parents aren't wanting to make the extra trek b/c of the snow and ice or it was just to hard on them trying to get the kids to me between trying to get to and from work driving on the ice. Not to mention none of us wanted to take the risk of having a child stranded at my house or me at theirs if a snow storm hit.
Finally, I think its great that you want to be a piano teacher. Although the economy is in turmoil still, I still think its a great idea, especially since your students can be a wide range of people and not limited to just one age bracket. In addition, you'll also have the upper hand since you can offer more flexible rates than the competitor!
GOOD LUCK! :D