Business Question

Discussion in 'Growing and Managing a Business' started by Spencer, Mar 9, 2011.

  1. Spencer

    Spencer
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    I have been teaching guitar and bass for the last 7 years and have decided hire a few teachers and open my own lesson program. I have a location picked out(next door to guitar center), though there are a few notable lesson programs in the neighborhood. The space currently has 3 lesson rooms, though they can be divided in two if need be. I have learned that guitar lessons are typically the bulk of any program.

    That being said my question is this...

    Should I offer only guitar/bass lessons? or should I also offer voice, piano, and drums

    Is it a smart move to narrow my target and specialize? or to offer a wider range of services?

    I feel like narrowing might draw me away from the existing lesson programs, but offering more instruments will give me more avenues for income
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum Spencer, thanks for joining and posting your business questions. The answer to your question really will depend on where your business is located. For example, if you are opening your business in a major city there may well be a large enough market for your to specialise solely on guitar lessons. However if you are opening in an area with a much smaller potential market you will most probably have to offer a variety of lessons in order to survive.

    You will need to do some research to try and estimate how many hours of guitar lessons your business could conceivably sell per week. Then use those estimates to compare potential income against your future costs and evaluate if there is enough potential business there for your centre to be profitable. Do you intend to do some initial research and / or write up a business plan?

    One thing you could consider is providing the rooms to tutors on a per hour basis. E.g. rather than hiring a drums tutor you could hire a room to him / her for a few hours per week. Could that work for you?
     
  3. GeeOne

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    It is like depend on you, if you want to do it on big level and you have the enough resources. Also you need to have the confidence of the Subject. Then you must go for wide range of services.

    And if you are not very confident in subject and less resources, the narrow target would be good option.

    Personally I would go for narrow target, and try to established & specialized in that area and step by step will adding more subjects.

    Good luck :)

    G!
     
  4. youngkia1

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    I prefer you should offer piano,voice and drums lesson too so that you can gain more income.
     
  5. Spencer

    Spencer
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    Thanks for your advice, though I'm not sure it swayed me either way. I am looking to open this business in Chicago, so it is a pretty big market. There is a place call Old Town School of Folk Music that has two locations and teaches all of the traditional instruments. They are established and dominate the music lesson market.

    As far as research goes, where would you suggest starting?
     
  6. Fergal

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    Spencer I'd recommend doing some research on the existing music tutors in your area. Look at the services they provide and the services they don't provide. Also talk to your existing clients and anyone else you know who is interested in learning music, to get their opinions as to the types of lessons and services they would like. This will help you to understand what your potential customers are looking for and to identify any gaps in the market.
     
  7. Dayanan

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    You can offer a wide range of services as long as you can find competent music tutors and a demand for those lessons.
    Since you will only pay the tutors if they give lessons your financial risk is small. If you can not fill the lesson rooms
    try renting them out to independent tutors to keep down your expenses.
     
  8. jsingerston

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    Spencer,

    I always thought that the music lesson business is the perfect business to create your own product with and sell it online. Here is something to think about. You could sell lessons online via a virtual webcam lesson. You could also create a series of video lessons and sell them as a package to people who want to learn to play an instrument. I think that you will find that amateur guitarists don't like the general lessons but rather would just pay someone to gie them lessons on how to play certain songs. If I was you I would identify the most popular songs that people want to learn to play. Then sell them prepackaged lessons specifically for one song. You could sell them very inexpensively and still make a lot of money. Just a thought. I have experience running a retail business where you have a store front, employees and everything else. It is not all it is cut out to be. There are a lot of headaches that come with having a store front that you would not have without one. Just a thought.
     

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