Understand Your Tutoring Business With Breakdown Reports
When you’re managing a tutoring business it should be one of your top priorities to frequently check-in on your business’ performance. These check-ins will help you analyze your business’ strengths, weaknesses, and main areas for improvement. Today we’ll discuss 5 breakdown reports you can run in Teachworks to help you perform that analysis.
Reporting tools are the business equivalent of taking your car to the mechanic for a routine check-up and oil change. It gives you an opportunity to verify that everything is functioning as well as it appears to be, and to identify anything that looks to be in trouble before it breaks down completely and causes a headache.
Fortunately, Teachworks has several reporting features that you can use to quickly check-in on your business (i.e. on a weekly, bi-weekly, and/or monthly basis). We’re going to focus on the breakdown report for the remainder of this article, but you can click here if you’d like to explore some of Teachworks’ other reporting tools: Teachworks Reporting.
The Breakdown Report
The Breakdown Report is available in all Teachworks accounts under the “Reports” tab. The Breakdown Report allows you to quickly view a breakdown of a particular measure by a category you select, within a specified date range of your choosing.
Breakdown reports are run using the existing data in your Teachworks account, and require no calculations of your own. Each report you run will provide you with data in table and graphical format that you can use to analyze your business and its performance.
Below we discuss in more detail 5 breakdown reports you may want to run in Teachworks on a regular basis to check-in on your business’ growth, opportunities, and potential areas of weakness.
Lesson Revenue by Service
The lesson revenue by service report allows you to easily check how much revenue your business has generated by service in a given date range.
This report is great for checking which of your services has been driving your business’ revenue, and which ones haven’t been performing as well.
Based on this information you can investigate what makes some of your services more successful than others, design marketing campaigns to promote specific services, or choose to make adjustments to services if they’re underperforming.
Student Lesson Count by Status
This report will give you a simple breakdown of the number of student lessons in a date range, categorized by each lesson’s status at the time you run the report.
This report is useful for making informed decisions about your business’ policies regarding cancellations and missed lessons. For example, if you notice a lot of students aren’t showing up for their lessons you can enforce new rules about cancellations and/or penalties for missed lessons. You can also use this report as a jumping off point for analyzing attendance records in more depth using the Lesson Summary Report.
Lesson Wages by Teacher
This breakdown report allows you to check at a glance how much you’re paying out in lesson wages, and which teachers have earned the most in a specified pay period or other date range.
If you start to notice trends over time (i.e. a teacher is consistently being paid the most), you can run further reports (like the lesson revenue by teacher report below) to investigate why that teacher is earning so much.
It’s possible some tutors are particularly effective, and are scheduling more lessons and earning more wages as a result. Touching base with these tutors on a regular basis will give you an opportunity to learn from them so you can train your other tutors to be more effective.
You can also make it a priority to schedule more lessons for your best tutors, so more students are achieving their goals and more customers are happy with the results your business is providing them.
Lesson Revenue by Teacher
This report will give you a breakdown of lesson revenue generated in a date range, categorized by the teacher assigned to each lesson. This report is great for identifying which of your teachers is the busiest, and which ones aren’t scheduling very many lessons.
As you run these reports on a weekly, bi-weekly, or monthly basis you’ll start to notice trends regarding how much each teacher earns, which you can then use to follow up with tutors on both ends of the spectrum.
Find out why the teachers that consistently generate the most revenue are so effective, and what you can learn from them that you can use to make your other tutors equally effective.
Similarly, you can follow up with teachers who appear to be struggling. You may find that some teachers have limited availability, need more training, or that they might be suited to tutoring only specific subjects.
You can also use this information to help guide decisions about teacher wage raises, since employees who consistently generate the most revenue for your business probably also deserve to be paid the most as well.
Student Lesson Hours by Service
This breakdown report will give you the number of student lesson hours in a date range (each student in a group lesson will be counted independently, so a one hour group lesson with 3 students counts as 3 student lesson hours), categorized by the service type.
This report is useful for quickly checking which services are being used the most, on an hourly basis. If you notice any trends you’d like to investigate further you can then jump over to the Lesson Summary Report to run specific reports about the usage of certain services over time.
Using this data you can also revisit the revenue by service report, and adjust your prices accordingly if you think you’ve been undervaluing (or overvaluing) some of your services.
Other Useful Breakdown Reports You Can Run
The reports discussed above are just a few of the potential breakdown reports you can run in your Teachworks account, but you can run over a number of other breakdown reports by combining different measures and categories.
A few other reports you may find useful are:
- Package Revenue by Service (for revenue generated by packages)
- Charge Revenue by Title (for revenue generated by charges)
- Lesson Count by Teacher (this will include 1:1 & group lessons)
- Payments Received by Method (to get payment totals in a date range categorized by the type of payment method)
Start Reporting Today
If you’re an existing Teachworks customer you can find the breakdown reporting tool under the “Reports” tab in your Teachworks account. Remember that it’s never too late to start using these features, even if you haven’t been running any reports on a regular basis. You can also run reports for months past to get up to speed about your business’ trends over time.
If you don’t currently have a Teachworks account you can click the button below to get started with your free 3 week trial so you can get your information entered and start reporting.