edit: also - homeschooling/private teachers are much more efficient. An elementary school day takes more like 2 hours instead of 7, and there's basically zero after-hours work. Do you know any teachers who would give up public school to work 2-3 hours a day for 70k a year with no all-night grading/etc? Cause my bet is it's a huge majority of them.
You could also get access to a larger pool of potential teachers (with STEM backgrounds even!): I don't think I'd ever consider teaching public school for any pay level at this point, but I could see myself teaching some of my neighbors' kids with mine in a few years for cheap/free if there were interest.
The small "class" sizes and much greater autonomy would be big non-tangible benefits though. And of course these arrangements can have more... flexible tax reporting.
https://www.salary.com/tools/salary-calculator/public-school...