1~You must charge/bill in advance of lessons
~Whether you are charging by-the-lesson, monthly, quarterly, semi-annually or annually, this is necessary. Do not expect a student to pay you after a lesson, as you will be disappointed.
2~You must notify your students how many lessons they are receiving for this fee
~Always let your students know what they are getting for their tuition. In your Policy Letter, make sure you have everything that is included or excluded. Make the student (parent) sign a contract that you will keep in your files. This is to protect you (and them).
3~You must not teach for free
~You are not giving lessons out of the kindness of your heart. This is a business. Although there are times where you might offer some sort of scholarship or reduced rate, teaching for free is not the way to go. You will be taken advantage of and then become resentful.
4~You must raise your rates annually taking into consideration of Cost Of Living Adjustment (COLA)
~This year, the COLA is 1.3%, so your fees should be raised accordingly.
5~You must remember that you are a professional
~Think of doctors, before you see one, you are charged for an office visit. This should be no different for you. You have studied hard to get where you are and be paid for your expertise in this area. Don’t let your emotions cloud your judgement.