Hi, all.
I'm a CFII and MEI in the Bay Area, and just starting to know what I'm doing some of the time, to paraphrase Ernest K. Gann.
I'm finding to my surprise that a large portion of my income is starting to come from clients who are rated pilots, but are well-off financially and interested in buying a CFI to copilot their 172, 182, etc. on cross-country trips and generally weigh in on decision making.
My question is, what should I charge these folks? My current full-day rate is $200 (plus hotel if it's an overnighter), compared to my hourly of $60. It should be noted that I'm not just in flight instruction for the time building... I actually enjoy the work and want to keep working on the craft (e.g. I care about the safety and competence of my students), so I'm trying to strike the right balance between giving the time away and $600/day typed corporate pilot stud pay.
One of my clients recently told me that one of the obstacles he had to overcome in his profession was getting over the feeling that he was ripping his clients off by actually billing them fairly, and I can totally see that as a problem for me.
Interested in your comments/experiences in this realm.
I'm a CFII and MEI in the Bay Area, and just starting to know what I'm doing some of the time, to paraphrase Ernest K. Gann.
I'm finding to my surprise that a large portion of my income is starting to come from clients who are rated pilots, but are well-off financially and interested in buying a CFI to copilot their 172, 182, etc. on cross-country trips and generally weigh in on decision making.
My question is, what should I charge these folks? My current full-day rate is $200 (plus hotel if it's an overnighter), compared to my hourly of $60. It should be noted that I'm not just in flight instruction for the time building... I actually enjoy the work and want to keep working on the craft (e.g. I care about the safety and competence of my students), so I'm trying to strike the right balance between giving the time away and $600/day typed corporate pilot stud pay.
One of my clients recently told me that one of the obstacles he had to overcome in his profession was getting over the feeling that he was ripping his clients off by actually billing them fairly, and I can totally see that as a problem for me.
Interested in your comments/experiences in this realm.