Pricing yourself as business owner can be a tricky one. On one hand - you’re so damn good and worth it and you want your rate to reflect it. On the other you’re worried about new clients saying yes to that price, to existing clients agreeing to it, client retention in the long run, comparing yourself to what others are charging..and the list is endless.
We could spend hours (days even) having these conversations:
Setting Rates
Learning when it’s time to raise rates
Pricing the Increase
Communicating with your clients *with confidence*
In fact, in my course Fitness Business Formula there’s multiple lessons devoted to these exact topics. Because they are SO important, and until now, there's never been a playbook on how to know what’s best for your business, and then how to actually make that happen.
If you’re on the fence if Fitness Business Formula is for you, below is a peak at one at the lesson “Learning When It’s Time to Raise Your Rates” - and it’s also that little nudge from The Universe you’ve been hoping for to help you take that next step.
“Learning When It’s Time to Raise Your Rates” (Week 2, Lessons 4 and 5)
There’s 4 key tells I see with fitness business owners that it’s time to reassess what they’re charging. This usually discussion usually comes on the heels of either a financial planning conversation, OR a mindset discussion that you are, in fact, totally 100% absolutely worth the price you’re asking for.
Rates are a reflection of the services we provide only. They ARE a reflection of our skills, knowledge, education and experience.
They are NOT a reflection of our worth or value as a person. Don’t forget that.
Look at the list below and ask yourself if it’s time to take that step into a higher paycheck. If after reading this list you’re with me, let’s get to work on pricing your rate increase and letting your clients know:
1 - You’ve been charging the same rates year after year: Did you know that if you’ve been charging the same amount for more than a year, you’re actually LOSING money, because inflation accounts for a 3% increase (ish) each year?! So not only are you losing money, you’re forgetting that with each passing year you are:
More experienced,
More educated (hello mandatory continuing education credits),
Likely an integral and valuable part of your clients’ lives,
Likely helped your clients achieve huge wins, making you more desirable and valuable.
2 - You learned a new skill or technique that you’re now using with your clients: Between mandatory continuing education courses AND all the educational opportunities you’re taking advantage of, in addition to the the tips, tricks of the trade, and cool new methods that you’ve picked up - I PROMISE that you’re working at a higher caliber than you were last year. You just are.
3 - You underpriced yourself and you’re finally ready to fix that!: When you’re starting a new business you want to price yourself with an accessible rate, and that might mean a little lower than you’d like. BUT that time of proving yourself, and proving it to yourself that you’re worth it is over, and it’s time to fix that! Let’s get to work on that!
4 - Because you can and because you’re worth it: Well sis, you actually don’t need a reason to raise rates - you’re allowed to decide that you’re worth it, you’re invaluable to your clients, you’re so damn good at what you do, and therefore - it’s time my energy is worth more.
To learn those next steps of pricing your rate increase and communicating with your clients, join us for the Fitness Business Formula! We’ll be teaching these lessons in Week 2 (week of February 1) - and I am confident enough in this method to say this: you will make back what you spent on the course almost immediately if you’re willing to follow these tactics for raising your rates. All that extra cash - is yours to hire, treat yo’self and GROW YOUR EMPIRE.
Registration is open until January 24 and this 5-week journey to best LIFE yet starts January 25. Can’t wait to see you in there