One of the primary challenges of being a private piano teacher and making a living at it is time. Most of your available students only have time after school or after work during the week, giving you maybe 2 to 4 hours of time per day to teach, and then Saturdays, and maybe Sundays. Besides ruining your social life, it is very challenging to even fill those slots evenly. Juggling schedules, missed classes (missed revenue), everyone seems to want to be taught at exactly the same time on the same day.
Then, after a few years of building a reputation, and being in the position to have a waiting list of students, you can then risk raising your rates without undoing the whole balancing act. It seems there is a built in time cap to how much you can earn unless you want to run a studio and manage other teachers (the good ones leave, the bad ones stay).
Any suggestions from other piano teachers to being paid a decent wage and having a life?