Wow, That Adds Up! @ 15 Jul 2015
Did you know that some people have been able to make steady tutoring their exclusive source of income by building up their student base and setting up consistent weekly sessions with each of them? It’s true! While building a student base of that size can take time, it is certainly a possibility and the potential is certainly out there.
But what kind of income potential are we talking? Let’s consider this small scale scenario:
A tutor who charges $25 per hour and tutors 1 student twice per week conducts 8 tutoring sessions in a month for a total income of $200 per month. By carving out just 2 hours per week to work with 1 student, that tutor is adding an extra $2,400 per year to their income. What if that same tutor worked with students for 1 hour per day, 5 days per week. At $125 per week, $500 per month and $6,000 per year, that is nothing to shake a stick at for just 5 hours per week, right?
I don’t know about you, but I can think of many great uses for that extra cash on a weekly, monthly or even yearly basis!
Remember how I mentioned that some people are able to earn their income exclusively through tutoring and tutoring alone? Well, do that math for someone who maybe tutors 6 hours per day or 30 hours per week…still less than a full time job. That kind of schedule can bring in $750 per week, $3000 per month, $36,000 per year based on a $25/hour rate! Just think, those tutoring sessions could potentially be done online on a convenient schedule for you and your students meaning you never have to travel anywhere to make money!
A rate of $25 per hour is a good average of the different rates that are typically charged across the country. Tutors often base their rates on a couple of factors. They may consider their years of experience, their current hourly rate in the classroom (if they are currently teaching), their degrees, and the cost of living in their area. Tutors in some of the major cities and more affluent suburbs of the country often charge above that $25/hour average while some in more rural areas with cheaper cost of living and wages in general may charge less than the average in order to be an affordable option in their area.
Are your wheels turning? Are you crunching numbers in your head? It all starts with getting your name out there to start making connections with new students needing your special skills in order to better themselves. There’s no better time than now to get your own tutoring venture up and rolling!
Have you had success with tutoring in the past and want to share? We’d love to hear about it in the comments below!
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