“Some of the biggest changes is for all new students, all of them are on a flat rate tuition, so that in itself is giving me stability knowing that first of all they can’t just kind of cancel and walk away, they’re committed, they’re committing to these lessons for a whole term… so that structure has been incredible.”
Nicky had a really clear vision for what an ideal studio could be. As a composer, lyricist and performer, Nicky needed time in her schedule for musical theatre writing and production.
She had several students, but the schedule was inconsistent and revenue could swing $1k between months. Her goal was to create a stable income, while building flexibility into her scheduling to allow for other creative projects.
In the past six months, she has made massive changes to her studio structure.
- Monthly flat rate tuition has created the stability that she needed in her revenue, and has encouraged consistency with her students.
- She is attracting more ideal students than ever before, and she has removed stress from studio operations.
- Hourly lesson rates were successfully increased 20% or more.
- A weekly schedule of 17 hours now provides $6200/mo in total lesson revenue.
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