Setting up price for the services like teaching

[ram]

Hi, I am a science postgraduate and would like to start my tution classes (india). It requires fixed cost and working cost as well. I dont have much idea about the terminologies to use here. Fixed cost includes the furniture, elcetricity charges, publicity, and other stationary, etc. while as working cost are payment to other teachers, and salary of other staff, etc. I would like your help in deciding the setting up fees for the students. I really not expecting much of income as i am earning with my job but still want to make up with my investments and little bit of earning on it.

[npguy]

You do a survery to all nearby places to find out the rent and all other relevent price, it will sure help you a great deal to learn about the approximate price.

[Fergal]

Your first step might be to see what your local competitors are charging for similar service. You could simply phone some of them, pretending to be a potential student, and inquire as to what their costs are. This will give you a good guide as to what you could charge.

Once you know the price you can charge, you should compare this to your costs and see if you can make a profit. If you are setting up in competition to established businesses you may need to charge a little less than them until you get your name out there and have established a reputation.

Good luck with it!

[Hurbel2k]

If You have some knowledge others don't (You are exclusive) You can charge quite a lot. I can imagine that some kind of certificate from outside India might help You in Your particular case.

Research Your market and see what You can ask for.

Then make a business plan with al expected expenses and all sources of income and see if it could work.

[zerzis]

I am also from India. From which city you are? I can help you out. Reply with details. Also tell me the location where you will be taking a place for your tutions. How many competitors are you having in vicinity of 5 kms from that place and how much they are charging. I will surely help you out atleast in some things.

[melbel]

Ask some friends what they would pay. Also, you could go out on the street and ask people what they would pay. You would get a lot of input that you could use to figure out your final number.

[I AM NICK]

You do a survery to all nearby places to find out the rent and all other relevent price, it will sure help you a great deal to learn about the approximate price.

Yeah,
Go around "house shopping" and find the local prices. Also look at your local electricity handbook or what ever they give out by you that list's the plans for phone/internet/electricity and find the cheapest plan for your situation. You can also take a look at your local Good will to find some furniture and decorations if you need.

[spirited]

Good tips I am nick, but also make sure that the equipment and setup in your teaching room looks professional (try not to get all your stuff at goodwill exactly). The only thing that I would suggest is to be careful of how many staffers and their hourly wage since if you do not get enough business, they may easily eat into your profit, so of course get all the prices of your competitors first.

[I AM NICK]

Good tips I am nick, but also make sure that the equipment and setup in your teaching room looks professional (try not to get all your stuff at goodwill exactly). The only thing that I would suggest is to be careful of how many staffers and their hourly wage since if you do not get enough business, they may easily eat into your profit, so of course get all the prices of your competitors first.

Thank you, and you can also go to Wal-Mart or Target and get some Furniture and decorations. I got stuff for my brothers office there.

[zerzis]

He has still not told us in which city is he. Unless that speaking anything is owrth less dear, because whatever things you are speaking of differ drastically from city to city.