How much should the Backyardprofessor charge for his lessons?
As gathered from various posts, they should be priced as entertainment. That, in itself, has some value.
WWE tickets are expensive, and that is entertainment.
I read all of your comments above. I believe starting a business takes hard work and the standard norm for these chess coaches is to not work very hard, but work only just a couple of hours a day for huge wages and that's it. I have my own business in Ecuador (a dental clinic) and we work with dental specialists for root canals and things of that nature. All these specialists charge ridiculous prices and for example our root canal specialist charges $120 per root canal. It only takes one hour and we are in Ecuador where minimum wage is $364 a month. The going price for a root canal is about $200 and we charge $190, so we only make $70 compared to her $120 even though we are bringing the client to her which is obviously already of more value since we have to pay for marketing, etc.! The same reason as with the high prices of chess lessons. These specialists only want to work a few hours a day and that's it!
I read all of your comments above. I believe starting a business takes hard work and the standard norm for these chess coaches is to not work very hard, but work only just a couple of hours a day for huge wages and that's it. I have my own business in Ecuador (a dental clinic) and we work with dental specialists for root canals and things of that nature. All these specialists charge ridiculous prices and for example our root canal specialist charges $120 per root canal. It only takes one hour and we are in Ecuador where minimum wage is $364 a month. The going price for a root canal is about $200 and we charge $190, so we only make $70 compared to her $120 even though we are bringing the client to her which is obviously already of more value since we have to pay for marketing, etc.! The same reason as with the high prices of chess lessons. These specialists only want to work a few hours a day and that's it!
Isn't that the whole idea of being a specialist? Work only a few hours a day and charge what you may consider high prices for those few hours. Chess may be one of the few professions where a specialist does not charge high prices. Probably because the demand is so low.
Specialists can charge what we do because we have skills that people want and we had to work damn hard -- and make a lot of sacrifices unseen by others -- to acquire them. Yes I want to get paid what I can, that goes without saying. I'm not running a charity.
Pyramid schemes have high overhead.
I've seen some of these 'rich' GM teachers at tournaments.
Wear the same ratty clothes all 5 days. Sleep 6 in a 2-bed hotel room(or sleep in their 16 year old car).Eat rice and beans.
I think maybe you're wrong.
I've seen some of these 'rich' GM teachers at tournaments.
Wear the same ratty clothes all 5 days. Sleep 6 in a 2-bed hotel room(or sleep in their 16 year old car).Eat rice and beans.
I think maybe you're wrong.
I read something recently that said that 2 of the top 10 players in the world make enough from endorsements to live comfortably.
Carlsen, and Nakamura.
You dont get into chess for the money.
You must not be very business minded. No offense, but that is not the reason for being a specialist. Specialists need to compete with other specialists if they want to strive above one another just like anything else unless you only want to work 2 hours a day and just get by. One specialist could charge significantly lower prices then all the other specialists and choose to work harder. In return he or she will have a higher income, more clients and perhaps he/she will be able to higher specialists as employees and start his/her own business. Apart from that she will be helping a lot of people and create lots of value. I think the demand is pretty high for chess coaches, but not to pay $50 an hour or more. I think there is a lot of room for improvement in the marketplace which will evolve over time.
I've seen some of these 'rich' GM teachers at tournaments.
Wear the same ratty clothes all 5 days. Sleep 6 in a 2-bed hotel room(or sleep in their 16 year old car).Eat rice and beans.
I think maybe you're wrong.
I read something recently that said that 2 of the top 10 players in the world make enough from endorsements to live comfortably.
Carlsen, and Nakamura.
You dont get into chess for the money.
If your good at chess and good at marketing. Good money can be made.
I am aware of nothing in the chess coach market that artificially raises prices. There is no subsidy. Prices are known. Reviews are widely available. One had ample time to shop by buying.it is not a necessity. What in your opinion,is artificially keeping them expensive?
I pay approximately $20 a hour to a women IM for chess training. Think it is a reasonable price. If you were a club tennis player, how much do you think it would cost to have a top tennis player knock some balls with you for an hour?
... I think the demand is pretty high for chess coaches, but not to pay $50 an hour or more. I think there is a lot of room for improvement in the marketplace which will evolve over time.
If you are correct, high demand will tend to drive rates up, in general. If a coach sets a rate and doesn't change it, then apparently they have found the correct level for themselves or at least one that provides what they want.
There are already coaches all over the price spectrum. If I was of master+ strength, there is no chance I would charge less than $20/hour and that is if I was just trying to supplement my income. If I had to replace it, I would charge more to cover other associated costs.
I am aware of nothing in the chess coach market that artificially raises prices. There is no subsidy. Prices are known. Reviews are widely available. One had ample time to shop by buying.it is not a necessity. What in your opinion,is artificially keeping them expensive?
I agree with you that there is nothing artificially raising prices...i just wanted to refine what you had said. A subsidy would artificially decrease a price, not increase.
I pay approximately $20 a hour to a women IM for chess training. Think it is a reasonable price. If you were a club tennis player, how much do you think it would cost to have a top tennis player knock some balls with you for an hour?
Are we still talking about tennis?
I am not complaining, I am simply saying that the prices for chess lessons are inflated...
I pay approximately $20 a hour to a women IM for chess training. Think it is a reasonable price. If you were a club tennis player, how much do you think it would cost to have a top tennis player knock some balls with you for an hour?
$20 is a good fair price! So why not take $80 lessons instead, because they are better
?? I am just kidding! They wouldn't be better... That is my whole point... Why are most coaches charging $50 - $80 when you coach charges $20 an hour. It makes no sense whatsoever.
... I think the demand is pretty high for chess coaches, but not to pay $50 an hour or more. I think there is a lot of room for improvement in the marketplace which will evolve over time.
If you are correct, high demand will tend to drive rates up, in general. If a coach sets a rate and doesn't change it, then apparently they have found the correct level for themselves or at least one that provides what they want.
There are already coaches all over the price spectrum. If I was of master+ strength, there is no chance I would charge less than $20/hour and that is if I was just trying to supplement my income. If I had to replace it, I would charge more to cover other associated costs.
$20 an hour is respectable, but there are lots of coaches in the coaching section... (most of them) charge $50 - $150 an hour... It's insane.
How much should the Backyardprofessor charge for his lessons?