How common is this type of "pricing plan" ?

Yes.

 

That's Joe. It's like that line from the Eastwood film, do you feel lucky? It may be that the time slot you have doesn't work for anybody else and, since you're lucky, it'll still be there when you get back. What's more likely to happen is that somebody who has a pretty inconvenient time slot for their schedule ( like one that they scuffle to make after getting off work or the last one at night that they have to scuffle to get home before midnight) and thinks that your time slot will work better for them will be happy to take it. And then when you get back you'll be able to take their inconvenient spot, since you're not that lucky. That's how I was able to switch, lo those many years ago, from the 10PM lesson on Monday night to a nice 11 AM on Saturday morning, somebody gave up their spot. Or, if you're really unlucky, Joe doesn't have ANY open spots and has a student inquiring that'll be happy to take your spot. So it's kinda up to you what you want to do.
I will say that the 14 years I spent studying with Joe Solomon were worth anything I had to do to make them happen.

If it makes it easier, think about it like you're paying for cable; doesn't matter how many or how few or how often you watch it, you still pay the same amount every month.

 

That's exactly how a local shop I've worked for forever does it. Think about it this way, if you cancel or don't show, the teacher's time is still spent. People need to make a living, even the reschedule within the week is a courtesy. There are plenty of other lessons (tennis, dance, vocational training, etc.) That you pay up front and don't get anything back if you miss a class.

If the teacher is legit and the price is comparable to the area, this is totally fair (IMHO)

 

It's a good sign; suggests he's a pro.

 

That’s the way corporate day care works. You’re paying for the spot, not how much you use it. It’s a proven, stable and predictable business model that serves the interest of the provider and encourages the subscriber to be an active participant and not flake.

 

Yes, and it is also normal to have a set price for a month paid before the 1st at a discounted rate from the single lesson rate.
My single lessons are market rate, it is a pretty drastic discount for committing to monthly lessons, I ask for 30 days notice to terminate, also. Once we settle on a day, you get that day, even if there are 5 in a month, however, the student pays for the major US holidays as well.
I give less of a discount to four lessons paid upfront that can be scheduled "anytime".

 

This policy shows the teacher is serious about his work and expects the same from you. Good omen. Hope it works out for you.

 

This is standard among professional private lesson instructors. I deal with 8-9 different lesson teacher a year through my band program and all have the same policy. The only ones that I know of that don't do this are ones at large corporate music stores (GC, SA, M&A). Some of those are employed by the store and you pay for each lesson at the time of the lesson. My suggestion is if you know a month in advance that you will be gone to discuss a prorated option. All of mine do this when we have holiday breaks (Thanksgiving, Christmas, Spring Break) and the student won't be able to have a lesson during that time.

 

yes, that is how payment for my lessons work on a monthly basis here in the DC area...and if there is an excused lesson my instructor is really liberal about makeups...and lessons can often go well over allotted time.