Increasing Teaching Business Revenue: Group Lessons
A goal of any teaching business is to increase revenue, which is a fundamental metric that is used to measure the growth of a business. Higher revenue means more cash flow, security, and opportunity. Increasing revenue isn’t easy; it takes research, time, and hard work to successfully grow a business. In this article we’re going to discuss how group lessons can help your business grow and increase revenue.
How Group Lessons Can Increase Revenue
Group lessons offer opportunities for increasing revenue for a number of reasons. By scheduling group lessons, you can:
- Spend Less Time, Teaching More Students
- Offer Lower Per Student Lesson Costs
- Supplement One-to-one Sessions With Group Lessons (and Vice Versa)
Spend Less Time, Teaching More Students
Offering group lessons reduces the number of tutoring hours (from the tutor’s perspective), while also increasing the number of students a tutor can meet with in the same length of time. If your business only offers one-to-one sessions, each tutor has limitations on how many students they can meet during a day. Offering group lessons allows tutors to meet with more students, without needing to increase their availability.
More students tutored in a day, without increasing tutor hours worked, leads to increased revenue by increasing the revenue from each session. Even if you pay tutors an increased hourly wage and charge students reduced fees for group lessons, you’ll still pay less wages and collect more lesson fees for one group lesson than you would if each student scheduled one-to-one sessions instead.
In fact, being able to offer a lower per student lesson cost for group lessons is another one of the main benefits of offering group lessons.
Offer Lower Per Student Lesson Costs
A common barrier that prevents students from scheduling more tutoring sessions is the cost. Offering group lessons is a fantastic method of reducing per student lessons costs, giving students with fewer resources more opportunities to schedule lessons. Increased opportunities to schedule more lessons can lead to increased revenue for your business, since more students will have an affordable solution for their tutoring needs.
Group Lessons Can Supplement One-to-one Sessions
If your teaching business currently only offers one-to-one sessions, group lessons can provide customers with more options that can encourage them to schedule more lessons. This is especially true if group lessons and one-to-one lessons are priced differently.
Perhaps some customers usually schedule one-to-one lessons, but occasionally they want to attend group lessons that are priced at a reduced cost for a little extra help. Alternatively, students who seek out your services and regularly schedule group lessons might transition to your more expensive one-to-one services once they begin to see results or they connect with their tutor.
The main takeaway is that adding group lessons can make your business more dynamic. A more dynamic business is more likely to meet the needs of it’s customers, which will in turn increase revenue since satisfied customers are more likely to give positive reviews and schedule more lessons.
Students Also Benefit From Group Lessons
This article has focused on how group lessons can increase revenue for your teaching business, but students can also benefit from group lessons. Group lessons can help students by:
- Exposing students to new ideas in the classroom
- Students may ask questions that clarify topics for shy/unsure students who are too afraid to ask questions
- Group lessons mimic a familiar classroom environment, while offering a smaller class size
- Tutors can use partner and/or group exercises to help students learn
- Students can socialize with peers and meet new people
Scheduling Group Lessons With Teachworks
Teachworks makes scheduling group lessons easy by allowing you to easily add more than one student to a lesson. In Teachworks each student’s costs, and the tutor’s wages, will be calculated independently according to the settings you’ve specified for each profile type.
If you don’t yet have a Teachworks account and would like to test out the software, you can sign-up for your free trial by clicking the button below.