Q: I am seeking info on Pricing for work-related classes. Just Open to Public 1 & 2-day type course pricing like Leadership Training and Computer classes. Does LERN have any reports or information on this topic?
A: Pricing is an important part of the success of your programs. When you are offering open enrollment courses, you have two issues to consider:
2. What you need to make budget
The formula for pricing is based on LERN's financial formula. We recommend that each course you offer as well as your program overall, meet these requirements. Promotional costs of your program should be between 10 and 15 percent of your total course income. Production costs for your course (instructor pay, any facilities costs, supplies you provide) should be between 35 and 40 percent of your income. Promotion and production costs together should not exceed 60 percent of income, and ideally would be at about 50 percent. If you use this pricing strategy, your are going to be much more successful in achieving financial self-sufficiency.