I knew that statistics class in college would come in handy...
I have been doing alot of thinking about driving schools, and with the help of this website, it has only opened my eyes as to what to look for. for instance:
Company A:
Low tuition costs, 1 year contract, 90 days 2nd seat driving (12 CPM) based on average number of miles and deduction of tuition costs. at the end of 90 days $ 1,620 before taxes. That is based on paying tuition upfront. $5,299 if you take the no money down option. This is before taxes as well as subtracting the $75 a month tuition deduction. Thats 1,766 a month or $11 an hour based on an average 40 hour work week.
Company B:
Higher tuition rate, no contract, 30 days 2nd seat, with the option of the trainer to release you after 2 weeks. Base of $350 per week. (for comparison sake lets say you do the whole 30 days) Based on the average miles and deduction of tuition costs. At the end of 90 days, 1,865 before taxes. That is based on paying tuition upfront. $5,860 if you take the no money down option.(1yr Contract) This is before taxes as well as subtracting the $45 a month tuition deduction. Thats 1,953 a month or $12 an hour based on an average work week.
Both companies CPM were equal after training. Company A had lower incriments after 3 & 6 months. Company B's tuition was 2K more, yet you can make more money faster. And if you can afford the full tuition upfront there is no contract.
Again I understand that there are always brushfires that need to be put out and everything does not go as planned but like CPM, more is better. I would like to have an extra $1 an hour.
I did it through the first year of employment but I think you get the point. RESEARCH, RESEARCH, RESEARCH, and oh yeah, NO LEASE.
