Small Business Question

[illvol]

Forgive me if this isn’t the place for this but I know there are lots of business owners on here with much more experience than myself.
I retired from police work in Illinois after 25 years and started a driving school for high school and adult students. Drivers ed is mandatory in Illinois and there was only one school in my area. Illinois makes it crazy difficult to be an instructor but I got through it all and have a fairly successful small business.
After 4 years with three instructors I needed more help because we were bringing in the state max of 35 kids each class and each kid has to drive 6 times with us. I hired 3 more but am now finding that they are driving with kids already signed up and we aren’t bringing in any new income or at least not as quickly as it is going out. I generate the revenue to sustain that many instructors and with them, I can offer more services to generate more income but for right now it isn’t equaling out because this is a slow period with school starting back up.
What do I do?
Cut their hours? If I do that then we will get a back log of students because they won’t be driving as much.
Raise prices?
Get a small business loan? Illinois is so non small business friendly.
I’ve also tried looking for grants since I’m in the education field and everyone I’ve ever found, even though it says it’s open, when I go to apply it says it has already paid out the max for the year. I clearly don’t understand grants.
I’m looking for suggestions from experienced business owners. I’ve never owned one or even managed one and I’m learning as I go.
Thanks in advance for any help!

Go Vols!

 

[WestTennesseeFox]

Can you explain this statement in more detail. This is a little confusing to me.

I hired 3 more but am now finding that they are driving with kids already signed up and we aren’t bringing in any new income or at least not as quickly as it is going out


When was the last time you raised prices? Has it kept up with changes in the labor and insurance markets? Are your classes full? What is your competition for a mandatory product?

 

[JelloPuddinPup]

Can you explain this statement in more detail. This is a little confusing to me.

I hired 3 more but am now finding that they are driving with kids already signed up and we aren’t bringing in any new income or at least not as quickly as it is going out


When was the last time you raised prices? Has it kept up with changes in the labor and insurance markets? Are your classes full? What is your competition for a mandatory product?

That statement seemed odd to me too.

You met your current demand by hiring 3 more teachers or you exceeded your demand in anticipation of demand going up?

If it's exceeded and you don't have any increase in demand...you gotta cut loose I would think to maintain profitability.

If you've met demand and are (or are not) breaking even you need to generate more demand to grow or raise prices.

 

[Firebirdparts]

If they are working, you can't cut their hours. If they aren't working, cut their hours.

If they are busy and you're losing money, then raise prices.