Music is a language present in all cultures. The beauty of music lies in its strength to communicate emotions, entertain, inspire, and fuel creativity, among many other things. Some people take their interest in music to another level through performing, while others find fulfillment in teaching it.
If you’ve started teaching music to loved ones or family friends, you might be thinking that you can turn it into a profitable music instruction business. Of course, your ability to play an instrument and your heart to train people aren’t just the primary factors you’ll need to consider in pursuing this endeavor. Business has multiple facets that you need to work on as you start your new journey. It’ll require you to put on different hats to succeed too.
So, if you’re looking to start your own music instruction business, here are four tips to help you:
1. Create A Business Plan
Creating a business plan doesn’t need to be complicated. You can do it on your own without needing a master’s degree in business. A business plan is a roadmap you can follow throughout achieving your business goals. It’s essential in helping you spot critical gaps, outlining your goals, and evaluating the status of different parts of your business like your finances, marketing, and operations.
If you’re starting from scratch, coming up with a business plan only needs a handful of core questions. A simple type will require you to know your numbers – how much you’ll be spending, how much you need to allot to each investment, and your income targets, among others.
Additionally, your business plan can also contain your rules and regulations. Laying down your non-negotiables this early will help you make the right decisions in the future. These policies need not be set in stone. But they’ll change as time passes and you get more experience in teaching and running a business.
As early as this stage, you can decide on partnering with other professionals who can add value to your startup then incorporate it into your business plan. Specialists who do band training, vocal coaching, correction of unpitched instruments, such as piano tuning, and other related services will complete what you’ll offer in your music instruction business.
2. Go Legit
Like any other business, starting your own music instruction business and generating good profit require you to deal with your local government offices in legitimizing your presence. Aside from filling out forms and registering your business name, you’ll need to purchase specific licenses depending on your location too.
Opening an official business bank account is also essential in running your business. A separate account for your business will make tax filing easier. Creating different accounts for your personal and business assets is critical to protect yourself and your business against any future ordeal. Going legit is important.
3. Spread The Word
The best way to spread the word about your business in this digital age is through a website and social media. Marketing yourself to your target clients means working on your branding and looking for practical and strategic ways to reach your target market.
Increasing your brand awareness means building your portfolio both as a musician and teacher. A website and social media presence will be a lot of help in spreading the word about your business and attracting potential clients. Focus on growing your following on different platforms by posting relevant and quality content, engaging with your followers, optimizing your business accounts, and even connecting with influencers.
Another way you can widen the scope of your presence is by holding events or recitals that’ll drive attention and launching promotions that involve discounts, giveaways, raffles, etc.
4. Practice Patience
Like any other serious undertaking, starting a music instruction business will require you a lot of patience. Since you’ll be starting your business from scratch, you may need to wear all the hats at first in order to be familiar with the process and system. You’ll be the numbers person, the administrator, the teacher, and the customer service. Manage your expectations so you don’t crash and burn.
Starting a music instruction business will need a lot of commitment, hard work, and time. You can’t just go big and be all out one day to make it successful; it’s a progressive journey. You need to stick to your plan yet innovate where necessary, explore opportunities, and enjoy the process. Take control; you have the authority to modify or replace certain parts of your business to fit your vision while considering your students’ needs. At the end of the day, as the business owner, you’re the captain of the ship; therefore, you possess the power to stir it in the direction you want.