Ask the average piano teacher how to become a wealthy piano teacher and you’ll probably hear “you can’t” for an answer. The general consensus is that teaching piano is a labor of love that happens to also pay the bills, but not much more. But that’s not true. I know how to become a wealthy piano teacher. And you can discover how to become a wealthy piano teacher too. The answers are right here in this article.

It’s all a matter of perception.

You see, most piano teachers don’t think of themselves as entrepreneurs. They don’t understand that they are actually in two businesses. Sure, they are in the business of teaching every budding Ludwig van Beethoven how to tickle the ivory and how to tell a treble clef from a bass clef, but they are also in the business of being in business.

That means that besides cracking open the music books, they also have to crack open the accounting books. They have to make time to separate the black and white keys from the black and white numbers. They have to learn how to run a profitable business LIKE it was a business and not a hobby.

If you want to learn how to become a wealthy piano teacher, you have to learn how to run a successful business. This means that you need to run a profit and loss statement, identify your overhead, analyze your rates, and determine what you need to do to raise your standard of living without working yourself into an early grave.

Does that sound impossible? It isn’t. In fact, the only thing I’m asking you to do is what every other successful business person in the world does every day — run your business at a profit. Want to know how to become a wealthy piano teacher? Make believe you’re a lawyer, or a doctor, or a plumber instead. No, I’m serious. Here’s what I mean.

No matter what business you are in, even teaching piano, you’re selling something. Shopkeepers sell merchandise, lawyers, doctors, plumbers and, yes, piano teachers sell their skills. And they sell it by the hour. If you aren’t getting top dollar for the time you spend teaching your students how to boogie woogie, you’re leaving money on the table. That’s money that should be in your pocket instead.

One of the keys to earning top dollar for your classical, concert and jazz piano skills is to raise your visibility in the market and make yourself appear to be more exclusive than your competitors. People with money in their pockets are willing to pay for exclusivity and the benefits that come with learning from the best of the best.

That’s only one trick you need to learn in order to discover how to become a wealthy piano teacher. There are so many more.

Technorati Tags: piano teaching business, teach piano lessons, teaching classical piano, wealthy piano teacher

I’ve just recently passed my 5th Grade AMEB Piano with a B+ and now I have started 6th Grade for about 5 weeks now. I can already play 1 song fluently and is most likely ready for exam, but as for my other songs – i’m really dreading to practice. Don’t get me wrong, I LOVE playing the piano, I LOVE "the" piano, I LOVE making my own songs though this just happens randomnly, i don’t actually write down the notes on paper. I haven’t been educated with piano theory, so my knowledge of the piano notations (eg. minims, dotted minims etc) are very limited.

My teachers have been forever changing, and they’ve been comprised of Uni students teaching me. And i don’t like that. That’s probably why i absolutely dread waking up on Saturday morning and having to go to piano lessons.

I was also thinking of changing musical instruments. After having played the piano for 8 years, I do not think it necessary to continue piano as I have a sound understanding of the ways to play the piano and I am really good at sight reading. What benefits would finishing til 8th Grade give me?

I just want to know the consequences. I know that I will later regret this deeply in my later life. But i am very limited to the way i play piano. I had to keep re-selecting my songs for 6th Grade because my hands are way too small to reach an octave which i can play slowly together but the songs require me to play it fast which i cannot with my small hands. But I’m 16 years old, entering my final year of high school. I need to focus on that. But I need to decide whether or not to continue my piano lessons and just play the songs at home when I’m free and then when I think I have got the songs together, go back to piano lessons to get the teacher to brush up on a little things then do my exam – which will save my parents the money and give me flexibility. But by doing this, I know that I will not follow practicing at home.

I do hope to study music in University, don’t know whether it’d be my major, but it’s the only thing that interests me other than Business and paperwork etc. I like practical stuff. And i also want to study Film Studies and/or Theatre in Uni. But I don’t think the uni teachers would like the fact that i quit piano after just recently having started 6th Grade. They would seem me ask weak.

Please help me. I have piano lessons in about 2 hours time. Though i don’t expect anyone to have commented on this that quickly. I will probably tell my new teacher that i’m thinking of quitting, but then thinking of calling my ex-piano teacher and my other ex-piano teacher for advice. But… i don’t hope to go to piano next week. And my parents will support me in all my decisions.

I’m just worried, i might make the worse decision of my life. Living with regret.

NO,NO,NO,NO, do not quit. I repeat do not quit. I quit when I was going in the 7th grade and started playing the trombone because my piano teacher quit teaching due to health reasons. I just never bothered to find another teacher. Huge mistake. I went on an majored on the trombone in college. If I had stuck with the piano it would have helped me tremendously because I had to take piano in college and it was difficult to pick it back up. Plus pianos are so usable in so many settings. If you can play piano you can usually get playing jobs a lot easier than with other Instruments. I knew people who made a lot of extra money just playing accompaniments for other people. Every soloist needs a piano player. My room mate in college played the trombone and piano. He played keyboards in rock bands and payed for his college that way. After college he became the piano player for Garth Brooks, (a big country music star in the US ) touring band and made big $$$.
I know you teacher situation is not the best right now but this is one time you should force yourself to stick it out. You will not regret it later.

*Remember this next sentence* I know a lot of people who regret giving up the piano at a young age but I don’t know anyone who regrets that they stayed with it.

Like you said don’t make a mistake that you will regret the rest of your life, hang in there, you won’t be sorry you stuck with it.

i have clarinet experience and have been playing it/reading music since 5th grade. im going into 8th grade, and transferring schools at the beginning of next year because i have been recommended for a more prestigious school for higher academic goals, and this school has an outstanding music program. i was wondering…how many people can successfully become pianists when they learn so late in life? chances are i would be 18 or 19 before i could start…

also, i was concerned that i wouldnt be able to play the piano because it would be confusing to be playing a different part with each hand

but i type on the computer much faster than average, so maybe that would put me at a bonus as being able to work with my hands at a fast pace(average around 50-70 words per minute)

i have been recommended to join high-school band next year although i will only be in 8th grade

is it likely that i would be able to learn piano and become successful? sorry for repeating myself

holly

EDIT: i mentioned filmschool because i would like to be either a fimmaker, or enter into the music business at an arts school, bor symphany orchestra or maybe even a career as a singer…but i know, it is EXTREMELY Hard to make it big in the music buisness without a boost into the spotlight

Yes it is possible for you to still be able to play piano. I am 15 and I have had the idea of playing piano since i was 10 and because my parents just couldn’t afford it there was a music class at my school and i got to play piano for like 1 year but you don’t necessarily need to buy a piano a keyboard works to practice on and when you turn 16 get a job and pay for your own lessons sorry about your parents close- mindedness.

My lessons are 30 minutes (my instructor is kinda crazy so sometimes he loses track, and we once went an hour haha) and I pay $48 a month, so I guess $12 per half hour, which kinda seems like a rip-off —but totally worth learning the instrument correctly

I’m going to learn piano hopefully this fall, I also love the sound! I wouldn’t reccomend starting both at once especially if you haven’t any music background…they say guitar is a little easier, but I don’t know (theres a lot of technique stuff) Good luck and don’t give up!

I don’t need a large home, but I do hope to use the house as a place to teach piano, voice and whatever else I may do (I will register the business). I will need a place that is in a safe area and looks inviting enough for parents to feel comfortable.

Now, purchasing a house that will be used as a business, are there any tax breaks or incentive programs or anything else I should be aware of?

If you have one room set aside specifically for teaching piano, voice, etc. and don’t use it for anything else then you should be able to deduct some of your house & utilities expense on your taxes. If you use the room for anything else, even one day a year, then you are not eligible for a deduction. There is a form you will have to fill out. I can’t think of the number, it might be 8801. Anyway, go to www.irs.gov and search business use of the home and you will find more information and the form you will need. Also, you will be self employed so you will have to file a Sch. C and a Sch. SE. The SE if 15.3% of 92.35% your net income from the Sch. C. This is in addition to federal income tax. So, you should make estimated payments when you start teaching so you don’t end up owing a lot of money in April. You can search estimated payments at the irs site and find a worksheet and vouchers that you will need to send with your payments.

I would like to open a quality piano school in order to give peopel the gift of music and to secure my future. I am a single parent and have a special needs son who is in his 20’s now but I need to make money so he will be cared for.

The price would be the same as other schools.
The current price for piano lessons at a quality private piano school are 40$ an hour. The teacher keeps 20-25$ and the owner of the piano school keeps the rest. The cost of renting/buying an upwards of 10 pianos and paying around 3000-4000$ rent per month could make it risky.

My boss makes 10,000+ in profit after she pays the rent and all of her teachers. I would hire my daughter to be my secretary and she would do it for free as the business started up.

Do you think piano is interesting? Is it something you would want your son or daughter to learn? Would you want to learn it?

As the years go by and things become more technologically advanced, I wonder if people are starting to grow out of playing intstruments. Piano is great for everyone but I wonder if the kids are starting to play videogames instead of learn to play.

Do you parents want your kids to learn an instrument? And if you are a teen or even an adult, are you interested in being taught piano?

Thanks for your help. :

Entrepreneurship is something to admire for sure. You’re asking all the right questions and it sounds like you’ve thought several things through.

However, a couple of suggestions I would make to you is that you should try and determine if there is a local group specifically tailored to your niche in your area. Perhaps a small business owner’s association if no piano teacher’s assocation group.

Also, I would consider talking to people OUTSIDE of your city that could help give you ideas and suggestions on the upside/downside of owning your own school. As long as you’re not a competitor, they might be willing to help out.

Some places charge 140$ a month.

Any ideas? Please give plenty suggestions on how much, where to advertise and how to get business.
I put some ads on craigslist but no bites.

thanks

Wow. You must live in New York. lol
My daughter has been taking piano lessons from a man who has a masters’ in music and tons of other credentials pertaining to music. He has been teaching for 40 years!
He only charges us 60 a month. Once a week 15 each lesson. This seems to be the norm where I live.
You are a tad bit high.
This is probably why you are not getting any responses on craiglist.

Activities: (for the Congressional Award)

[Community Service]

Tutoring children and high school students
Singing to the elderly weekly at a nursing home
4-H
Habitat for Humanity

[Personal Development]

Summer Youth Performance Workshop (studying vocal music, theater, and modern dance) – NJPAC
Young Artist Institute – NJPAC
Jubilee Choir at my school
NJPAC’s Jeffrey Carollo Music Scholarship
Wachovia Jazz for Teens – NJPAC
Private voice and piano lessons
Teaching myself how to play guitar

[Physical Fitness]

Varsity Track (Winter and Spring)
Cross Country

[Expedition/Exploration]

Study abroad in Costa Rica (2 weeks)
-community service, cultural exchange, and Spanish study

I also hope to receive the Bill Gates Scholarship which will completely pay for my college education. They specifically like to see leadership, work experience, volunteer work, honors/awards and curriculum/grades.

[Leadership]
-I have started my own business teaching music theory to beginners at the Community House.
-I’m going to become President of Academic Quiz Team my senior year.

[Work Experience]
-Summer Internship at DOROT (world’s largest organization serving the elderly)
-Music Theory lessons at Community House

[Volunteer work]
-same as above

[Honors/Awards]
Honor Roll [9th grade - present]
(working towards thee following)
The President’s Volunteer Service Award
The President’s Challenge Gold Award
The Congressional Award
NJPAC’s Carollo Music Scholarship

[Academics:]
9th grade
All honors
GPA: 4.250

10th grade
All honors
GPA: (I hope to earn a 4.5 or higher)

I really want to get into NYU because
1. they have a great music therapy program
2. i can double major (music & psychology)
3. it’s a very good school

I know all of this seems like a bit much. Thanks for taking the time to read all this. Do you think I’ll have a pretty good chance of getting into NYU so far? Also, if I’m looking into majoring in music, is it required that I audition on my major instrument? Thanks so much! 10 points to a thorough answer!!!

Believe me, I did read through this whole answer and it was exhausting. By what I read, you seem extremely qualified in some ways and not qualified in others.

Extremely Qualified:
GPA is outstanding
Community Service is excellent
Lots of nice awards =)

Not Qualified:
Extracurriculars….? (besides sports)

Also, you are missing a critical part, which is your SAT/ACT/SAT II scores which are a big part of your application. Come back and post when you take those tests.