Is There Really Money in Teaching Guitar?
I am going to explain how to earn over $1000 per week teaching guitar in less than 6 months. Before you can achieve this it is important you have the right mindset. Success in anything begins with your beliefs. Think about your best students. Are they the ones who in believe they can learn or the ones who doubt themselves? If you are cynical and don’t believe the goal is achievable you will probably be right. If you believe you can achieve the goal you are already half way there. So I think the best place to start is with my own recent history of where I went from zero to around 500 students in less than 3 years.
The G4 GUITAR Story
In 2005 when I started G4 Guitar I was flat broke. I had been traveling the world for over 2 years and had spent every last cent and then some. When I returned to Sydney I moved in with relatives who were kind enough to give me a bed while I got back on my feet. I was collecting the dole which amounted to about $200 per week. I found some office space which cost $180 per week in Northbridge Sydney leaving me with $20 for expenses. I used my credit card to cover the rest and got to work. Within 7 months I had 87 students was earning over $1500 per week but I didn’t stop there. 2 years later I had opened 5 schools in Sydney employing 15 teachers a manager and an administrator with close to 500 students turning up for lessons every week.
Where are all the students?
Do you believe the students are out there? Guitar today is one of the most popular leisure activities. The Internet, video games and TV may rank higher because they require no real effort but if you ask the average person which is cooler guitar will win hands down. I would estimate that as many as 1 in 3 people would like to have the ability to play guitar. This means that if you live in a city of a million people there are potentially 300,000+ people who would want to learn guitar and at least 10% would be within traveling distance of you. My success in growing guitar teaching businesses was not about luck. I just knew there was a massive potential market and through many years of experience I learnt how to tap into that market and once you know how you will never go hungry again.
In my next post I will talk about who the real competition is and why we should be working together with other guitar and music teachers.
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