There’s no magic formula, but these tips and strategies will help you identify a price that you are comfortable charging.
Determining how much to charge for your classes and workshops is one of the first challenges every professional yoga teacher faces. As teachers, it is often hard to assign a monetary value to our teaching when yoga is closely coupled to our passion for a practice that has given us so much. It can be a delicate balance between sharing what you love while also being equitably compensated for your time and energy. After all, teaching yoga is an energy exchange, and energy flows best when there is balance. While there is no perfect formula to calculate your rate, here are some tips and strategies to help you identify a price that you are comfortable charging.
See also: 5 Reasons Why Even the Best Teachers Need Liability Insurance
1. Begin with your values
Start out by asking yourself some basic, yet important, questions; reflecting on your answers can be a great starting point.
- What is your main motivation for teaching yoga? Is it simply to enjoy and share the practice with others, or is it also a means to support yourself and your family?
- What are your expenses and will they be covered by the prices you set? It may not make sense to pay more for childcare or transportation than you earn for teaching a private session. So be sure to consider these costs when calculating your prices. Other expenses you may want to consider include taxes, managing your website, accounting and more. Don’t forget to include travel time as part of your pricing calculation!
- Do you want to work for someone else or for yourself? While there is much more freedom to set your own price levels when you work for yourself, it is important to determine if it is worth the time and cost of marketing, accounting, and more. On the other hand, working for someone else often involves accepting the compensation set by the employer, with very little negotiation room.