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That’s my question of the day. Do I continue to teach piano lessons out of my home or find a place to rent, lease, or purchase? I don’t mind teaching out of my home but I don’t have space to expand my teaching as I’d like. I need 1,000 sq ft in order to teach group piano. I have all the equipment I need.
I talked with two realtors today about possibilities and hopefully they will get back with me soon.
I know that the overhead is a lot more versus what I’m paying at home (nothing!) but the potential for more students is greater with classes than just private lessons. So my expenses will go up considerably for rent, insurance, utilities, and advertising. I’ll also have to clean more...ugh! That is until I start making enough to barter with someone!
Being in a public location would also benefit my lampshade and gift business as I could include a small gift shop in the waiting area.
Just thinking outloud here. Any advice? Thoughts?
I have some thoughts on this, Cindy. And, by the way - great to see you around!
If you decide to go with a commercial space best to have one of your own and not be tempted to share the space with someone else. I did this and wish I hadn’t. Spent a lot of money and aggravation on a kitchen that I’ve never quite bonded with or feel as if it’s really mine.
I had a wonderful home kitchen in Washington state that the health department certified. But, in Hawaii, even though my home kitchen is fantastic for my work; lots of space, closes off to the rest of the house and has an air conditioner, our county would never even consider it to be a legal kitchen for my chocolates. I rented a space and made a kitchen there thinking I’d get a lot of increased wholesale business which hasn’t made up the difference in increased expenses - at least in my situation. Many regrets as you can see.
I’d recommend doing a very concise cost analysis of your expenses to run a space and break it down by how much money you need per day to keep it going, even down to the electricity. Then perhaps put out some feelers for interest in having group lessons. Come up with a marketing plan so you know who your target market is and ask the hard questions about whether the market will support your endeavor for the long haul if you’d have to sign a lease.
I hope I didn’t sound too negative. I’m coming from my own personal experience which is different from yours. I wanted to raise some questions that you may or may not have considered. But, as in everything, I wish you the best with your music and with your beautiful lamp shades!!
Gr8 thoughts Cynthia!
As for me I’m going to be having someone that comes to my home for piano lessons. Hopefully a young hottie! lol
Thank you, Cynthia. Good suggestions. I have thought about all the expenses that I know of to stay in business outside the home; however, I’m not sure how to do the market research. Or maybe it’s the advertising part. I know that if I get the word out, I’ll get students. My target market is very wide as it is available to everyone at any age (well except 0-4 year olds). I’d like to target adults during lunch hour, home schoolers during early afternoon, teens mid afternoon, and children early evening (no nights if I can help it). My best advertising is word-of-mouth; I’m not allowed to advertise in public schools. I do know some of the music teachers; however, and can talk with them and give them business cards. The music stores already have in-house teachers and won’t promote me.
I’m still thinking, thinking, thinking!
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