During the months of July and August, I did a survey to ask how the economy was affecting piano teachers. The results were fascinating and I shared these at the August Kick-off webinar. (You don’t want to miss these webinars as we always talk about relevant issues facing teachers!)
So today I am publishing the results of this survey and asking a few follow-up questions. The survey had a fairly decent sample size: 704 of you responded (though some non-U.S. teachers opted to not answer these specific questions to keep the results accurate). So thank you for participating!
Of course since then, grocery prices among other things have continued to rise, so I’m sure that even if you are not experiencing any change in the number of students, the impact of inflation and such things is still having an affect on your life. If you did not increase your tuition this last year, I’m guessing you’ll be considering it this next year just because the cost of living has increased, even if you have been able to keep your budget for other things the same.
So here are the official results from our survey on how the economy is affecting piano teachers:
How is the Current Economy Affecting Your Piano Studio?
I found it encouraging that 65% of piano teachers were not experiencing any tangible, negative impacts yet. But at the same time, there were 31% of you who were, so that was sad to hear. But then again those of you who are experiencing impacts can see that you are not alone!
How is the Current Economy Affecting Your Studio Roster?
I was quite surprised to learn that 21% of you have more students this autumn term! Congratulations to you! On the other hand, while 42% of you said that you will have the same number of students,19% of you said you have fewer students.
Of course, this was based on early August enrollment numbers which would have been pretty firm at that point for most teachers. However, it’s possible some of you have gained or lost students since then. Please let me know in the comments if your enrollment numbers have changed.
So How Can I Get New Students?
I’m actually working on a special idea for you to be released in January. So mark your calendar for the January 10th webinar when I should be able to talk about these ideas on how to get more students (a new idea that’s not in any lists). In the meantime, you can read these articles about getting more students:
- Best Marketing Tips – Piano Teaching Idea Share #6 (This is probably the best current article we have on marketing as it contains many ideas that have worked for many teachers. Especially take time to watch the short video about Amanda’s ideas!
- Marketing Piano Lessons 101
- Marketing Piano Lessons 102: Moving to a New Community
- Marketing to Homeschool Students
- Marketing Piano Lessons to Adult Students
How is the Economy Affecting You Now?
Do leave a comment and let me know how things are going for you and how the market is affecting you as a piano teacher! Obviously, business issues are important to me and I will continue to try to develop relevant content to help you navigate this challenging economy!
Thank you so much for preparing and publishing this survey!
I have definitely noticed a slight decline in new registrations so far this term. Also, I have had returning families reach out to me for accommodations such as, biweekly lessons, flexible payment schedule, etc.
The current economy is definitely having a major impact on families.
Your tips and insights are very helpful!
Since the survey, I have lost ALOT of students. Fortunately, I’ve gained just as many students since then and I have a full studio of many beginners. What I’ve found is that if a student was “on the fence”, they opted out of piano lessons this year. I had several students at the age where they tend to move on to other interests. The economy pushed them over the edge.
Although, student enrollment is higher than last year, the percentages of new enrollments is less. I’ve also seen a sudden change in family habits. One most noticeable change is that families are paying cash, rather than paying online with credit card.
Families are also being more selective in the amount of extra curricular activities their children are involved in. Some students have dropped out of lessons because of this. (One positive result is that we are left with students who actually want to learn the piano and they practice).
And lastly, some families with multiple children have asked to pay for only one time slot and have their children alternate lessons every other week between the siblings.
Our studio is in a pretty well to do area in CT. So for us to be seeing some of these changes does signify that families are definitely feeling the pinch. Especially because in our area most homes are heated with oil.
I was not affected much when you took the survey. However this fall has been devastating. I have lost more than half of my students and a few went to 2 lessons a month due to economic trouble.
I think some of us gained people during the covid isolation because parents were glad for their kids to have something to do, but now that things have opened up along with inflation they are stopping lessons. I have not raised my prices in about 20 years. I cannot lower them but was considering quitting teaching and going to work. I can’t afford my MTNA membership nor to invest in many piano extras. I did advertise and got 3 new students but have 2 more on the verge of quitting
Those are my thoughts and experiences.
In the last two weeks, I have lost three out of 38 students due to the families’ finances.
I’ve lost one student this semester. I have started 2 new students since then. I continue to look for more students.
Thanks for all you do for the teaching community!
I am one of the teachers who responded to the survey with the answer that I either didn’t know or wasn’t sure (can’t remember exactly how the question was phrased or my exact answer ☺️ ) how the economy would impact my studio this year. Unfortunately I now know that I am noticing parents are slower in making their monthly payments. At this point, I am giving reminders and it has worked. I haven’t needed to do this in the past so it’s odd and definitely something I am monitoring in case I need to make policy adjustments in the future. It might be a warning sign? Time will tell! Interesting that I had just double checked some accounts and then received your email.
Thanks again!
I’m so sorry to hear that you’ve noticed a decline in new registrations. I’m glad that families are still wanting to take lessons even if it means they and you might have to be flexible. But I do hope those ideas are helpful. Thanks for commenting!
How interesting! Thank you for telling me about that, Marilyn. I’m so glad that you were able to replace the students you lost!
Thank you for telling me how it’s affecting you, Jerrica. Those are interesting observations and I love that you are looking at the bright side of having families who really want to be there! Thanks for weighing in. I hope your studio stays full!
Oh no! I’m so sorry to hear that, Deborah! Thank you for sharing about how this has affected you. I’m glad that you are willing and flexible enough to o accommodate those wanting to have bi-weekly lessons. And I’m glad that you have 3 new students. I hope that your continued advertising helps you get more. Thank you for sharing your pain here. I’m sure it’s quite difficult to figure out what to do.
I’m so sorry to hear that, Janice. That’s got to be scary, losing 3 in just 2 weeks. I hope that you are able to find replacements. But these are scary times for sure.
Thank you for telling me, Linda! So glad you have a net gain!
Yes, that’s interesting! Thank you for telling me, Bonnie. I’m so glad that you are willing to send those reminders though. I guess that’s a good thing that you haven’t lost them, even if they do need reminding. It’s tough on everyone, so I appreciate (and I’m sure they appreciate) your understanding from the parents point of view.
My wife has lost some talented students because of financial difficulties. Some she has kept teaching by giving them a “scholarship”.
http://www.moorefarmpianostudio.com
I’m so sorry to hear that she has lost some talented students due to financial difficulties. That’s beautiful to know that she is being so generous to give some a scholarship! Thank you for telling me and I hope that things improve for those students and you as well!
I began the fall semester with a significant decline in enrollment (32 students down from 46). However, I had already planned to move some students from 30-minute lessons to 45-minute lessons, and I had one student who wanted to move from 45-minute lessons to 1-hour lessons (and yes, we use EVERY minute of that time!), so the financial impact was mitigated a bit by those increases. But since then I have enrolled 8 new students with one more slated to begin in January! I’m at the point now where I will consider myself “Full” and won’t accept any new students unless a spot opens up unexpectedly. 🙂
Thanks for sharing the survey and report with us.