That’s right — the M word is right in the title, so if you are wondering what to charge for classes or how to make money teaching yoga — this article is going to shed some light. It may also bring any money discomfort you might have to the surface.
Growing up I learned that it was improper to ask people how much they made or spent. Talking about money for many of us has been discouraged. We could weigh that this is positive or negative… or we could just look at it with awareness.
I find it empowering to talk to someone I trust about money, even when it is uncomfortable or scary.
When I work with yoga teachers as a consultant I ask many money questions. For example:
1. I ask what their ideal yoga student makes a year. That question is usually the most difficult one in our entire avatar session and that is just a fictional character with an imaginary job and income.
2. I ask what their ideal annual income would be and with a little formula we see how close that is to reality, what need to change and we brainstorm about generating more income.
3. I ask clients what they are charging for their existing classes, workshops and events.
4. I ask what expenses they are claiming and encourage them to talk with a certified accountant about what they can and cannot claim as business expenses.
5. I cheer teachers on to charge what they are worth and factor in the time that they are putting into training, advertising, travel and administration work.
I feel confident with this work because it is work that I continue to do with myself and my business.
So if you are up for a little more money talk today – let’s fill out a small chart together. Don’t stress over this or think too long on it. For a printable 3 column version – click here.
|1||Ideal Annual Income
(before taxes and expenses)
|2||20 % – for Retirement||$|
|3||10 % – for Charity||$|
|4||Ideal Annual Holidays||
|5||Days Working (per week)||
|6||Total Work Days – (#5 x 52) – #4||
|7||Daily Income Goal = #1 ÷ #6||$|
|8||Hours Per Day Goal||
|9||Hourly Income Goal = #7 ÷ #8||$|
This gives you a rough idea of what you need to be charging. It also gets you thinking about how much you are saving for retirement and how much you are giving to local charities. When you charge enough for your services – you are able to take care of you and give back to your community.
Remember that if you are teaching an hour long class – you need to factor in the hours spent driving, prepping and setting up.
If you are still feeling like you don’t know what to charge for your classes or you feel as though you are struggling to make money teaching yoga – book a consultation session with me.
You have the answers and the skills to make this work. I am here to help inspire, give guidance and cheer you on!
I work with yoga teachers because I value what they are offering to people and communities all over. You deserve to be paid well for the yoga that you share and the time you put into your business.