The Surprising Finances of Teaching

Filed in Uncategorized by on August 26, 2013 0 Comments

Back in July I was asked by my friend Stacey from FreshStitches to write a blog post about the behind the scenes of being a professional knitting instructor. What I discovered as I prepared the guest post was a bit surprising!

Image via Flickr by philiphind

What I was looking at in this post was my “actual” hourly rate for teaching a class. Keep in mind that there are too many variables to make a completely accurate prediction for every scenario. But even so, the numbers I calculated were in some cases a little disheartening.

You may remember I posted a little bit about this same topic when I was preparing today’s guest post. For my teaching model to work, I have to be able to teach the same class multiple times. When I don’t include my travel time I generally need to teach a class 4 times before I start earning a reasonable wage. However, if I add in an estimate of travel time, that number jumps to 10 times! Talk about surprising finances of teaching!

So what did I learn for this exercise? A LOT! The main thing is that traveling eats into my profitability in a serious way. So will I try to minimize my travel? No, because although I make more per hour if I travel less, the math doesn’t really work. Besides, I love the experience of being in the classroom, in real time, with students like you! And part of that joy is visiting locations throughout the country.

Image via Flickr by viZZZual.com

So are you ready to have me come visit your location? Remember you can always check our teaching calendar to see where we are currently scheduled. Or drop us an e-mail to see about having either (or both) of us come teach at your local shop or guild. We hope to see you in class soon!

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