Today, the average fitness professional with an advanced certification is earning around $25 per hour. But there are some who are making over $250 or $300 an hour. What’s the difference? And more importantly, what can you do to boost your earnings?
The dream of every entrepreneur is to create a profitable business that gives you the freedom to live the kind of life they want. But if your pricing and packaging isn’t right, you’ll never achieve that dream.
There are two common mistakes that fitness professionals and yoga studio owners make when it comes to pricing and packaging:
- You don’t get your students to commit to the length of time they need to hit their goals.
It’s very unlikely that five or 10 sessions will get your students to their goals. As a professional, it’s your responsibility to recommend a realistic program that best serves them.
Because if your students aren’t hitting their goals, don’t be surprised when they become unhappy with you and the leave your program.
- You discount your prices to “beat out” the competition.
If you’re basing your rates on what the competition is charging, you’re committing business (and financial) suicide. There simply won’t be any profits left over to grow your business.
With a services business, you’re either the best or the cheapest. There is no in-between. Which one do you want to be known as?
You must charge what you’re worth if you value yourself, your business and serving your students.
If you haven’t been charging what you’re worth and your pricing for your services is incredibly low, you have to raise your rates in order to grow a sustainable fitness business.
Focus on delivering value and price becomes irrelevant. Serve your students so they love doing business with you and couldn’t possible imagine going anywhere else.
Remember, you’re selling on value, not price. If you don’t feel like you’re providing that value yet, then give more first.
Pricing is the first step to being profitable and having freedom. If you don’t get your pricing right, it’s impossible to have much of either.
Sean Greeley, CEO of NPE, has an unrelenting passion for supporting entrepreneurs and growing businesses. For over 10 years, NPE has grown to serve more than 24,000 fitness business owners in 95 countries. The company has 3 offices in Orlando, London, and Sydney and has been listed 7x on the Inc. 500 list of fastest growing, privately owned US corporations. For more information visit netprofitexplosion.com.