Bang on Kat, as always.
In answer to your questions Ben:
How much do you charge? When I was starting out, it was £25 for 45 mins and £30 for an hour. Then I switched to only teaching 45 min sessions, and raised that price to £27.50 for my existing students and £30 for newcomers. A year later, I became £30 for everyone for 45 mins. £40 for an hour if it’s asked for.
Have you tested different pricing? (premium pricing vs average) Increments as above which allowed me to see how students responded. Nearly everyone stayed! New people still kept coming at a normal rate.
If not, what makes you think that what you charge hits the sweet spot between clients gained and money made? I think I fall in the above average with my pricing (although I’m not entirely sure these days if I’m honest!) but as said above, I didn’t really lose any business and kept all my slots full and new people coming. So I earned a lot more and was a happy buzzy bee!
Should I put my prices up or my time down and offer just 45 minute sessions? Or both? BOTH!
Should I have different prices for guitar and singing lessons? I charge the same for singing and piano lessons, personally. And I link them a lot, so it’s similar workload and time.
Hope this helps…