Raising prices is scary for many personal trainers. The fear is clients might get angry and quit. Don’t be scared. Think through it and handle the change appropriately to be successful. Here’s how.
You can get over the fear of losing clients by adding up how much more income you will make monthly once you’ve raised your rates and divide that number by your current session price. You will see that you can afford to lose a client or two.
Ease your anxiety by practicing the price increase conversation with a friend or two. This will help you prepare for different reactions asmeninis treneris kaune .
How to Know it’s Time to Raise Your Prices
Timing is important when raising your rates. Ideally, you have met one or more of these personal training milestones:
You have a waiting list of potential clients.
Your cost of living and/or business expenses have increased.
You’ve had the same prices for 1-3 years.
You have obtained a new certification or credential that sets you apart from other personal trainers with similar prices.
You have expanded the offerings for your clients – new equipment, nicer gym space, perks like free seminars or discounts on other services, etc.
Example of a Price Increase
If you raise your rates by $5/hour and train about 150 clients each month you will increase your pay by $750. Divide that by $50/hour and you can reasonably lose 15 sessions and your income will stay the same.
If you don’t lose anyone then you will have an extra $750/month and $9,000/year. I’d say that’s worth getting over the fear and taking the chance! Of course, you have to factor in any additional expenses and taxes, but this is an exciting financial change nonetheless.
Transition to a Higher Price With Ease
Another way to use numbers to get you over the hump of raising your prices is to set up a win-win for you and your clients by offering small group training. Susan Finley, the owner of Train Smarter in Birmingham, AL raised her rates with an option for clients that was quite popular. “I encouraged people to move to buddy sessions so that the increase didn’t impact them as much. Those who moved to small groups (which was programming I was trying to grow) LOVED having buddies to work with. So it was a win/win.”
Christine Oakes, owner of Fun2BFit in Silicon Valley, CA and author of Reshape Your Health allows her clients the opportunity to buy a larger package of sessions at the old price and convert to the new rate when that package is complete. Oakes says, “It’s great because now I know that client is definitely committed and there is less admin work for me.”
Finley raised her prices when she upgraded her studio to a new space with better features and equipment. She says, “People seemed to understand that our expenses obviously had increased and were loving the new space. I didn’t lose a single client through all of this.” When prices are raised at the right time with adequate thought and communication it can work out for everyone involved. Asmeninis Treneris Kaune
Tips for Raising Your Prices
Write a letter to get your thoughts collected ahead of time: including reasons for the raise, a date of the change, and any pertinent details for purchasing at the old rate.
Hand this letter to each client at the end of a session, but verbally mention what the letter is about to maintain rapport.Be short and sweet with your speech when sharing the news.Give the letter and have the conversation with clients you feel more comfortable with first, to ease your nerves.