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 be a financially tough time. In the past, I’ve closed my studio for two full weeks (in coordination with most school calendars) — which results in two full weeks of lost income. There are ways to make up for some, if not all of it, though.
One way that I supplement my income during this time of year is by taking advantage of holiday performance opportunities. These include private and company parties, as well as community events such as downtown walks and showcases.
Another is to create additional opportunities for students outside of their regular lessons. I like to offer individual recording sessions to finish up those holiday CDs many of my students make for their families, group sessions focusing on learning holiday repertoire, and even group sing-alongs and caroling. In my experience, parents have been more than happy to have their children participate in such activities, especially when I invite siblings to join in.
Group events don’t take a whole lot of extra time out of an already busy schedule, but they do bring in a good amount of income. Consider opening up such opportunities not only to your existing students, but also to children in the community. I invite participants via my email newsletter, Facebook page, and church.
How do you supplement your income during the holiday season? Please add your thoughts and ideas in the comments!