How should I price my services in my education business?

Pricing is another one of those things that can really give you that icky feeling in education business. Selling to teachers can feel wrong because, after all, why should teachers have to fund their own resources? Selling to schools can feel awkward because it’s so hard to know what the right price to charge is.

So, how do you go about pricing your product or service?

The first thing you need to do is get clear on what it is you are delivering to teachers and schools. Are you saving teachers time? Are you upskilling educators? You have to charge for the results you are giving them – not the time. You have spent years working on your subject knowledge or your resource creation skills and you should be fairly rewarded for delivering a result based on that experience.

If you aren’t sure what your expertise is worth, you can start by checking out how your competitors’ price themselves. This will help you to learn what is possible for you to earn. You may be offering something that is more value than your competitors and if you see them doing well you know you can charge that bit extra for the extra value you are offering.

However, you should not focus too much on your competitors. If you spend your time following the same journey as someone else, you’ll make the same mistakes as them and you won’t produce anything unique. The best place to put your focus is on your business and what YOU are doing. What makes your offering unique? What is the value of this uniqueness? Get feedback – this will help you work this out, without spending too much time focusing on your competitors offering.

The most important thing in my opinion, is to make sure you price right from the beginning if you can. You do not want to end up in the resentment trap. When I was tutoring, I charged £20 an hour and drove to my client’s houses. I ended up resenting my tutoring gig until I made this work for me, and I did this by asking clients to come to me, cutting the hour down to 45 minutes and still charging £20. My clients were happy to keep paying this amount, which told me I’d been underselling myself!

Failing to charge the right price from the off is a very good way of killing off your drive and passion for your business.

There’s a lot more that can be said about pricing. I talk about this in much more detail in a couple of my podcast episodes. You can listen to episode 3 How to Price your Education Services for Schools and Teachers here and you can listen to episode 52 where I chat with Eileen Adamson about pricing here.  

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