How about $1?
how much should i charge to teach chess

People don't value what they don't pay for.
huh. maybe people in the upper middle class think like this, but then their materialistic and shallow
Yeah, I wouldn't bet on that. Everything is expensive here, thanks to a complete dumbass government turning national surplus into shocking national debt in just 10 years.
Haircut: $20.
One game of chess in a tournament is $10 plus parking.
Parking your car in the city for 3 hours: $12 - $16.
Electricity supply for 3 months: $800.
How do those compare?
Oh, and wasn't it a drop bear instead of a dingo?
and whats the minimum wage for 1 hour, 6 dollars??and you really want to charge 10 dollar per kid, for your nonmaster teaching????? i mean really??? REALLY???
People don't value what they don't pay for.
huh. maybe people in the upper middle class think like this, but then their materialistic and shallow
there is nothing wrong with being materialistic though, hey man dont we all love money..
Put a limit to the number of student to raise the prices. (not to provide the kids with better support in smaller groups, but to create a false sense of urgency).
"No more than 5 students per session, 30 dollars per hour, first arrived first served".
Then, when it has worked, move on to "No more than 5 students per session, 30 dollars per hour starting price, best offer gets the place".
More seriously, it depends on the usual prices in your area. Don't forget group lessons are supposed to be cheaper per child than private coaching too.
maan thats an awesome idea i become 1900 rated and teach chess to kids!!!

At my chess club in Connecticut we have several national masters rated 2300 and above, and one IGM rated over 2600. The IGM charges $150 an hour and the national masters $100.00 an hour. The charge is for private lessons. There are also instructors (experts) charging about $30 an hour. The point here is the cost of these lessons may depend on the ranking of players giving lessons.

When I started teaching guitar lessons, what I did was look around at what other teachers where charging.
I dropped out the high and low outliers, averaged up the rest, and priced 1 standard deviation below the mean.
Parents thought they were getting a deal, and I felt I was charging a fair price relative to the market. Everyone was happy.

That makes sense, Kingpatzer. One mistake that some posters have made is to charge the same for individual lessons as group lessons.
The fees have to cover the costs, but also have to be reasonable. If this is to be a regular, weekly meeting with games played afterwards, it's more in line of day care. If it's intensive one hour lessons, it's more like paying for an extra class after school and should be charged as such.

That makes sense, Kingpatzer. One mistake that some posters have made is to charge the same for individual lessons as group lessons.
The fees have to cover the costs, but also have to be reasonable. If this is to be a regular, weekly meeting with games played afterwards, it's more in line of day care. If it's intensive one hour lessons, it's more like paying for an extra class after school and should be charged as such.
Agreed -- you have to charge for the actual service you are providing. A group lesson is a different service than an individual lesson.

There's been some good suggestions here, so I'll add a different one. How much would you be embarassed to take? If they offered you 200/hour, you'd probably tell them that's too much. If they wanted the lessons for free, you'd feel you were being ripped off. Find your own high-and-low and go from there. Maybe start off low (I always did first session free, then $10/hr. I'm not 1900, but I'm a good teacher) and then go to a 'regular' rate after you've established that you're a good pick.

Try it out a few times and see if you can sustain teaching an audience like that. I've volunteered for beginner group classes for 6 months and after a while, the money (probably 10-15$ a session) started becoming less of a factor than the time/energy you put in vs. the actual reward ( the tiny fraction of kids who actually want to get better) had me tapping out.
Any delusions of "Oh Captain My Captain" teacher-of-the-year grandeur or leading this rambunctious bunch through a big-city school championship gets immediately shattered within the 1st few sessions ... so experience it (a mix of joyful moments plus meandering thoughts of the prison sentences currently awarded for strangling kids) and then worry about the getting the money-factor adjusted.
Working with one interested kid "solo" was way more rewarding than trying to "herd cats" (which is more than an appropriate term to describe teaching a group of high-on-sugar kids chess)
Most of them (in my case) were just being pushed into it by parents trying to keep up with the Joneses (or Patels :))

You charge as much as the market is willing to pay. So determine how much time you are willing to put into teaching. Once you figure that out set a price. Do not make it negotiable...Maybe u don't get enough students in the beginning. So you can lower the price. Once you start getting to many students then you can raise the price....
There's been some good suggestions here, so I'll add a different one. How much would you be embarassed to take? If they offered you 200/hour, you'd probably tell them that's too much. If they wanted the lessons for free, you'd feel you were being ripped off. Find your own high-and-low and go from there. Maybe start off low (I always did first session free, then $10/hr. I'm not 1900, but I'm a good teacher) and then go to a 'regular' rate after you've established that you're a good pick.
how do you become a good teacher?? i want to be one too

There's an excellent little book that may be difficult to find but well worth it for its invaluable practical advice:
Chess Coaching by John Littlewood.
Also, you could go to the FIDE website and look at some of the material they have for chess coaches. USCF also has resources for coaches.

Oh, dude . . .
Look, you don't have to be a great chess player to be a great chess teacher. But you do have to be at least compitent. Plenty of great NFL coaches only played college ball. But they played at some level and had some success . . .
With no OTB experience you have no business teaching kids how to play chess. How are you going to help them navigate a tournament when you have no experience playing in them yourself?!
what are your coaching credentials which determine price