Archive for the ‘Finances’ Category

 

To Make-Up or not to Make-Up

April 15th, 2012

Do you offer make-up lessons? Do you require 24-hour advanced notice? Are there make-up lessons built into your semester or yearly calendar? Do your make-up lessons ever bleed over into summer lessons eating away at your precious summer income? Do make-up lessons make you feel stressed, overworked or manipulated?

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Tax Time

March 9th, 2012

At this time of year, I have taxes heavily on my mind. Perhaps you, too, are busy preparing your 2011 returns before that dreaded April date, or maybe you’re way ahead of me and have already taken care of everything. While being a self-employed studio owner can be a bit of a pain [...]

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Readying Your Studio for 2012

December 24th, 2011

At the top of my list of to-do’s over the holiday break? Whipping my studio into shape for the new year. It was badly in need of reorganization after the end-of-semester frenzy — and I’m pretty sure mine isn’t the only one!
That, of course begs the question: is your studio ready for 2012?
I started to [...]

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Preparing for Holiday Break

November 24th, 2011

The holidays are my favorite time of year, especially in the studio. I love working on festive pieces with my students and recording holiday songs for them to give as gifts. And of course, the break is refreshing not only for students, but for me as a teacher.
However, as a business owner, the holidays can [...]

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How to plan for a 9-month work year (part 2-saving for summer )

November 15th, 2011

Summer can be a wonderful, creative time in our careers. We have more flexibility and time. The downside is that we often have no income. Zero. Zilch. So how do we survive on 9 months of income but 12 months of expenses?

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How to plan for a 9-month work year (part 1- planning for taxes)

October 16th, 2011

As music teachers we face a constant challenge. How do we live for 12 months when our regular, guaranteed income is only 9 or 10 months? Unlike school teachers, we are usually independent studio teachers or work for a music school that is unlikely to spread out our income over 12 months. Summer is wonderful, [...]

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Taking Risks

October 9th, 2011

This past spring, I decided to take a bit of a risk with my studio.
I’ve taught private piano lessons for about nine years.  Since having a child two-and-a-half years ago, I’ve kept my studio relatively small.  I only accept twelve private lesson students, since I like to be a mostly stay-at-home mom.  In March, all [...]

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Building a Business Plan – Part 2

September 23rd, 2011

This month I will feature the newly formed Piano Teacher School founded by Kathleen Theisen and Kristin Yost. Kathleen Theisen is an assistant professor at Western State Connecticut University and Kristin Yost is the founder and director of The Centre for Musical Minds in Frisco, Texas. Both of these enthusiastic teachers are not only very successful in their music careers but are also thriving entrepeneurs.

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Using Online Affiliate Programs

September 15th, 2011

I am constantly looking for ways to generate income while providing excellent service. This year I plan to offer “one stop shopping” for my students on my web site. I am exploring several affiliate programs that will allow me to earn income based on their purchases.

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Offsetting Studio Owner Costs

September 9th, 2011

I think the fall is probably an expensive time for most studio owners across the board as we prepare to head into another year of teaching…
Here’s what my business records show for this month:
Membership renewal in my national, state, and local teachers’ associations: $135
Ad in the local paper: $45
Ad in local parenting magazine: $100
New teaching [...]

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