How to earn $100,000 per year teaching guitar
The following page will show you how to earn $100k per year teaching guitar.
How $ much is a student worth to you?
The first important step is calculating the average lifetime value (ALV) of a student. This helps you to make an informed decision on how much to spend on advertising. Our data shows that an average paying student is worth at least $2,000 but could be as much as $5,000. The difference depends on various factors which will be explained in more detail later but here is a quick example. A student attending lessons for 80 weeks at $25 per lesson generates $2,000 (80 x $25) in revenue. Remember this is the average based on an average teacher. If you are above average and manage to keep most of your students long term the ALV of your student will be higher. So for the purpose of this exercise let's value the average student at $2,000.
Would you spend $100 to get $2,000?
What if I told you it costs as little as $100 to get one student who is worth $2,000 or more. Our stats show that it costs around $100 in Facebook ads to get one new student. Often less. That means 20X your investment. Our Facebook ad campaigns generally return one lead for every $10 spent. A little over 10% of those leads turn into paying students. 10% can on first glance seem low but it's simply the nature of Facebook ads. 50% of leads never respond after the initial inquiry and out of the 5 who do respond 1 or 2 end up signing up for lessons. This is actually a fantastic result because it's cost you 5% or less of the total value of that one student you enrolled. Tell any serious financial investor you are getting 2000% return on your investment and I guarantee you they will be very impressed.
Convert inquiries into paying students
Converting guitar student inquiries into paying students over the phone requires effective communication skills and a well-structured sales process. Here are some tips to help you succeed:
- Greet the student warmly and professionally. Ask questions to gather information about their needs and interests.
- Highlight the benefits of taking lessons with you, such as structure program, mentoring and fun of course.
- Discuss your pricing options and ask questions to determine what will work for them.
- Address any objections and provide additional information to help them make an informed decision.
- Close the sale by summarizing the benefits of lessons and confirming the details of the trial lesson.
By being friendly, and confident during the sales process, you'll increase the likelihood of them becoming a paying students.
Secret to long term committed guitar students
The secret to long-term committed guitar students lies in building a strong relationship based on trust, support, and mutual goals. Here are some key elements to consider:
- Clearly define your teaching philosophy and goals, and make sure they align with those of your students.
- Foster a positive and supportive learning environment, encouraging students to set and achieve their own goals.
- Provide effective lessons using a tested method or system, taking into account each student's individual needs, strengths, and weaknesses.
- Encourage open communication, and listen actively to your students' feedback and concerns.
- Offer additional resources, such as practice materials and performance opportunities, to help students continue to grow and develop as musicians.
By providing a high-quality learning experience and being an attentive and supportive teacher, you can build a strong bond with your students and ensure that they remain committed to their guitar studies in the long term. The key is to make each student feel valued, heard, and challenged, while helping them achieve their personal goals as guitarists.
The Power of Consistency
One of the biggest mistakes I see with people generally in business is being inconsistent. Remember that restaurant where the quality of the food seems to change or the service varies dramatically from one waiter to the next? What people want is consistency. Consistency in guitar teaching means; Running lessons on time, not changing student lesson times, formatting lessons, and following a method. This creates a sense of reliability and dependability for the students, allowing them to feel confident and secure in your lessons. When lessons are consistent, students can focus on their playing and make steady progress, rather than feeling confused, frustrated or irritated. Consistency also helps students build trust in you their teacher, fostering a positive and productive learning environment. Whether it's through a structured lesson format, or a consistent approach to teaching, demonstrating consistency as a guitar teacher is a key ingredient to success. If you only take one thing away from this guide let it be this. Consistency is the key to success in business.
Why I Created The G4 GUITAR METHOD
After more than a decade of teaching guitar I realized the importance of consistency in delivering effective lessons. The challenge of managing more than 70 students a week at the time, often resulted in confusion and inefficiency, leading to a disorganized teaching style. To overcome this, I developed the G4 Guitar Method - a standardized approach that streamlines the learning process. The method is based on the 80/20 principle and focuses on essential skills, allowing students to make rapid progress with minimal time and effort. The method not only saves students time, but it also builds confidence and ensures that the teacher remains organized and efficient. The G4 Guitar Method provides a clear roadmap of what has been covered, what is being worked on, and where the student is headed, resulting in increased student satisfaction and longer-term commitment.
The Essential Guide To Teaching Guitar
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3000+ Students in 2 years
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"I was so impressed with the method I signed up almost immediately.The result-My income has increased by 33% approx."
"I really appreciate all the advice and encouragement you have given me over the past few months. This has been the best week so far and I made $900 this week which is amazing. People keep calling and book lessons and the challenge now is to stay focused to manage all the students that I have."