Top Tips For Teaching Yoga In Schools - Tip #43: Solving The Pricing Puzzle
Hi there, and welcome back!
Wow, it has been almost 4 months since I’ve updated the blog, and in that time I’ve been busy with my full-time classroom teaching job, building a consulting business, and trying to navigate taking care of myself and being human!
But, May is here and my schedule is opening up a bit now that the school year is winding down, so I’m happy to be back blogging with more regularity.
This week, I’m sharing some insights related to a question I hear from kids yoga teachers all the time: what do I charge?
Read on for more, and feel free to leave a comment if you have questions!
Tip #43: Solving The Pricing Puzzle
I now want to dive into a question I’m asked a lot by kids yoga teachers which is “What do I charge?”
And, while I wish I could say there’s a one size fits all answer to this question, there isn’t.
But what I can tell you is this:
It’s critical to do market research to get an idea of pricing. Research other outside providers or afterschool programs who run programming in your district or in the school itself. Check out their website and you’ll most likely find information about what they charge families or schools for after school programs. If you can’t find this information on their website, email them directly and ask...not as a competitor, but as someone who is new to working in the school / schools to get a sense of how they came up with the number (was it on their own or in collaboration with the school?), etc…
You have to figure out three numbers on your own: the baseline amount you need to make for the class to feel worthwhile, the amount you’d like to make, and the amount you’d be really happy making. These numbers may look really different, or pretty similar, but regardless, it’s important to think through these numbers and have them in mind BEFORE you start contract discussions with principals. You want to make sure any opportunity you say yes to is worth your time and energy, and that you feel like you’re getting compensated appropriately for your time.
Additionally, keep in mind all of the ways in which COVID will change your baseline amount. If you’re teaching virtually, how does your baseline number change (if at all) vs. teaching in person? If you’re suddenly responsible for PPE, etc… how does that change it?
Consider different pricing models, and how what you charge might change given each model. For example, if the school is paying you directly, you might charge them per hour, and cap the class at a certain number of students. If you’re charging parents, you’ll charge per child. Get creative here and keep in mind that you want to make sure you’re charging enough in either model to make at least your baseline amount, but that the means in which you get there will be different. *Also, note that when charging families, you’ll want to offer a sliding scale payment option for families that may need financial support.
Tip Takeaway: The bottom line is, there’s no one size fits all when it comes to pricing, but you can use these tips as a guide. It’s a delicate balance of charging how much you feel is appropriate given your time, expertise, and the value you bring to a school AND keeping yourself priced appropriately with the market in your area.