Home – New Forums Face-to-face meetups & events The Business of Education

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  • #979325
    wickstim
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    My business is in the education sector, and this is an invitation to others in the same field to have a place to share our thoughts, ask questions etc. I am in the Northern Territory, so it is important to me to network online.

    I have a stack of questions, so I will kick things off.

    How do we find out the going rate in our field, rather than pulling a figure out of…..well, you get the picture?

    #1113587
    NigelLane
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    I guess I had an advantage here in that the school I work in (now just part time) hire speakers and I just asked what their rates were. In Victoria it is quite common to pay n excess of $1000 for a presentation to students (either 1 or 2 periods).

    They also paid over $2000 for a child psychologist to come and speak to parents. So that at least gave me a starting point.

    Sent from my iPad using Tapatalk HD

    #1113588
    wickstim
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    golightly, post: 0 wrote:
    I’m getting ready to go solo in the education sector also. My business is a combo of editing/teaching online. I’m still in the planning/getting ready to launch stages while working part-time, so would love to bounce around ideas too.

    Pricing has also been quite tricky for me. There are competitors in terms of editing services and traditional tutors but the going rate varies greatly and their target markets/services differ from mine.

    In the end I had to try and balance what I know students want to pay, with what it might cost to eventually employ or contract someone to work with me. Which is the direction I hope to go in. Not sure if it’ll work out – time will tell!

    Wow – $2000 for a child psychologist? Not a public school surely? :-)

    Hi Golightly, welcome to the thread, and thanks for contributing, I too want to bounce ideas around, and I don’t think it matters too much if our needs/goals differ, we can support each other with our passion for and knowledge education

    Cheers, and look forward to catching up here again.

    #1113589
    wickstim
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    In my current J.O.B. I employ other presenters and trainers and although rates vary, the going rate is around $300 an hour plus expenses, which include flights, transport, accommodation. Some have hourly fees, others daily.
    I will stick with the going rate, though I intend to have a daily and weekly rate as well as a retainer for the ongoing coaching type roles.

    We had someone up here a few months ago that charged $300 an hour. He did a 5 hour day, plus we paid for the time he travelled. He was average at best and I wouldn’t have him back. Then recently we had someone that charged $150 an hour and he did three full days. He was incredible and was worth more that he first guy. It also goes to show that price is often not a factor, at least initially and that the quality of our ‘product’ and our ability to build rapport ( and relationships) is much more important.

    The idea of a going rate has been on my mind, as not many people want to share this, and of course that is fine. Thanks for sharing Nigel and Golightly, let’s hope we get more feedback in this area. I have a lot more questions, so stay tuned.

    #1113590
    wickstim
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    wickstim, post: 127092 wrote:
    ?…… the going rate is around $300 an hour plus expenses, which include flights, transport, accommodation. Some have hourly fees, others daily.

    Sorry, the hourly rate DOES NOT include flights, hire car and accommodation.

    #1113591
    wickstim
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    golightly, post: 0 wrote:
    I’m getting ready to go solo in the education sector also. My business is a combo of editing/teaching online. I’m still in the planning/getting ready to launch stages while working part-time, so would love to bounce around ideas too.

    Pricing has also been quite tricky for me. There are competitors in terms of editing services and traditional tutors but the going rate varies greatly and their target markets/services differ from mine.

    In the end I had to try and balance what I know students want to pay, with what it might cost to eventually employ or contract someone to work with me. Which is the direction I hope to go in. Not sure if it’ll work out – time will tell!

    Wow – $2000 for a child psychologist? Not a public school surely? :-)

    I reckon your pricing will differ from mine, maybe yours will be per lesson or per course? I have delivered a lot through adobe connect and google hangouts, usually to groups though. I intend to use Skype and hangouts for coaching and consulting.

    $2000 a day is not restricted to the private sector, public schools have money for PD, as do regions, corporate etc.

    #1113592
    Dane Pymble
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    Hi wickstim

    You might like to check out Flying Solo’s Hourly Rate calculator for a different way of assessing what to charge by the hour – http://www.flyingsolo.com.au/hourlyratecalculator

    It does bring up an interesting point though. You often hear of consumers (I am in the financial services industry and with the new FoFA laws coming in it is quite topical) saying they want the transparency of an hourly rate rather than a commission based fee or some other fixed dollar amount.

    When they see the $per hour charged they start to question why and how you can charge that sort of fee. An interesting example came up recently when we referred a client to another service provider (who earns very good money herself but that is beside the point) who charges an hourly rate. We referred our client on as the particular service she was after we didn’t provide.

    The client questioned how she could charge this sort of fee however comparing it to other service providers that would charge a % of the client’s assets on an annual basis she would actually realise that the price she is paying is significantly less.

    What point am I getting at? It comes back to what people REALLY want versus what they say they want. If you are confident in your product as being superior to that of your competitors charge accordingly. The key is to demonstrate the benefits that far outweigh the price tag of your service. If you can do that you will get customers.

    As in the above example the hourly rate, whilst it is useful to work out how much you should charge based off an hourly rate it does not necessarily mean your service needs to promoted on an hourly rate basis.

    #1113593
    wickstim
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    I wouldn’t mind finding out more about other trainers/presenters/consultants fees or ideas of fees if anyone reads this.

    Next question:

    Have you sought marketing advice. Have you employed a marketing company. I have no idea of where to start. I feel that I need to work with a pro that understands the education sector. I may be wrong…….any ideas/advice?

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