Did you know most personal trainers set their prices too low?
It’s true. In fact, most personal trainers have no clue how much to charge… heck you may be wondering the same thing.
Well, you’re in luck. This post will give you an easy process that shows you how to set your pricing to stand out and attract great clients. You will also learn the biggest mistakes personal trainers make when setting their pricing.
Technique #1 – Market Rates
This technique is a great way to get started. You simply look at the market rates and set your rates in line with them.
For example, let’s say you look at the gyms in the area and you notice the rates are between $65-$80 per session… It would be reasonable to price your sessions in the same zone.
However, I wouldn’t set them at the lowest point because that implies you’re the lowest-end trainer.
It I was just starting out, I would probably set my rates at $70 or $75 per session with some package deals that bring the price down to $65 per session.
Technique #2 – Intrinsic Value
This technique is a bit tougher and often comes with experience. This is where you decide what you’re worth.
What’s your time worth? How much are you worth? Will you get great results…Better than with other trainers?
Elite trainers charge $200, even $300 per hour and upwards of even thousands of dollars per hour. They get results. They know their worth, and people are willing to pay it.
This technique is tough because it requires a bit of a track record and a definite belief in yourself. New trainers don’t have the track record to use this technique, but it’s important to remember this down the road.
I personally charge between $100-$150 per hour and I’m the busiest trainer in my city. I constantly have people finding me and asking to train with me
It doesn’t have to be hard to price your services, but you also want to be careful you don’t make the mistakes either. You need to keep things simple and believe in yourself and your abilities.
Mistake #1 – Setting Your Prices Too Low
I understand why you might do this. You think you don’t have as much experience, you want to get more new clients, you’re not sure if clients would actually pay $75-$100 per hour…
But consider this: In life, you get what you pay for. If you charge really low prices, you broadcast that you’re low value.
I’m not saying you should charge the highest prices around (although you should consider this), but you definitely shouldn’t lower your prices below market value. You’ll attract cheap clients and your perceived value will be as low as your pricing.
Mistake #2 – Running Sales & Discounts
I know this sounds like a great marketing idea… and many trainers do this, but let me explain how it can backfire before you go around running sales.
When I was the head of the training department in a very nice gym, there were two sets of trainers…
The first set of trainers were my hand-picked trainers that implemented my program. I set our pricing and marketing. There were four of us including me.
The second set of trainers were trainers I acquired when I got the job. The owner of the gym set their pricing and they were all given the freedom to run their own business however they wanted. There were eight other trainers.
The owner of the gym would consistently run a sale for $49/session. The normal price was $65-$75 per session. My price was $49 per session for a 30-minute session – double the cost.
Additionally, members of the gym stopped buying normal sessions with the other trainers. Instead, they would hold out and wait for the $49/session sale. They would buy 50 sessions at that price, then take 6 months or a year to use them.
On the other hand, myself and my other three trainers constantly charged the same amount and continually, month after month, earned twice the income as the other eight trainers COMBINED.
When you set your prices low… you trap yourself in a pit of cheapness!
Mistake # 3 – Not Having Package Deals
Instead of discounting your session price, you can give incentives for people to train MORE OFTEN.
Let me explain…
Most trainers discount prices when clients buy more sessions, but that doesn’t make much sense to me. All that does is make you less money for a longer period of time.
Rather, I give incentives when clients train more often.
For example, I might charge $50/session if a client only trains with me once a week… and $45/session if a client trains with me 2x per week… and so on. I reward my clients for putting in more work with me.
Set Yourself Up For Success…
Listen up… if you really want to fast-track your success… then check out my special e-class because it walks you step-by-step through everything you need to be a world-class trainer – making great money!
And you’ll get my most effective secrets I’m using right now to make $80,000 a year while only working 3-4 days a week!
Leave me a comment and ask me questions about pricing and any challenges or experiences you’ve had.