Pricing your fitness business offerings doesn’t have to be complicated.
But plenty of personal trainers and fitpros make it that way.
Here’s how it’s usually done.
1. Ummm and ahh about what you think you can reasonably charge
2. Look at all your competitors and see what they’re charging
3. Listen to people who tell you “You need to recognise your value and put your prices up”
4. Umm and ahh some more
5. Pick a random price based on what you think you can get, hope you can get
6. Try your best to sell at that price
Sounds familiar, right?
And no doubt, so too is the frustration of doing things this way.
Never truly knowing or believing if you’ve ‘done it right’ and pretty much ALWAYS having to deal with people who want to negotiate, haggle and barter on your rates.
Wanna know a better way?
1. Decide how much you want to make each month.
2. Decide how many hours you want to invest in making that number.
3. Divide the amount by the hours.
Yeah, I know it’s still a by-the-hour rate but at least it’s based on something of value… what YOU want to earn.
And the best part, you can always ‘rejig’ the numbers any time you like. A day, a week, a month… whenever.
Doing the math
Let’s say you’re just starting out and you’re happy with £2000 a month right now and that you’d like to work no more than 20 hours a week (or 80 a month) to earn it.
Take 2000 and divide it by 80 and you have £25 an hour as your base rate.
Simple and easy, right?
You can drill down deeper if you like.
You can determine the total number of clients you want to work with each month.
Let’s say you want to work with just 10 people.
That means 2 sessions a week to hit your 80 sessions (10 clients x 2 sessions x 4 weeks).
You now know your numbers
All you have to do to hit them is find 10 people and serve them a £200 a month package et voila!
Want to work more and earn less? Just do the math again!
No need to make it complicated. Just do the math.