Personal training pricing topic is the difficult one! It is not just an easy game. Any move you Do will have consequences, sometimes weird one!
“Anyone who has never made a mistake has never tried anything new!” Albert Einstein
Just like in a game, the Pricing Policy is the strategy game where you can make any moves you want but be warned; any action will have a reaction. From time to time, you will be very surprised with the feedback from the market. Only when you analyze after the reaction occurred, you will see the cause and effect relationship.
If you have more than one variable in the formula, results can be assumpted but not guaranteed! When you look at results after they are obvious, mostly you will be able to see the firm logic in it, but that fact will not help you feel better if your actions worked against you!
Therefore, let’s make the first conclusion: When you want to change The Prices, be very careful!
Personal Training Pricing Average!
I did my research and found that Personal Training pricing average of $50 per hour with a range of $15 to $100/hour per hour. Prices vary depending on the region, and are higher in urban areas than in rural ones. (The National Strength and Conditioning Association survey)
The average price per hour is just one side of the medal, but how much do Personal trainers make a year?
Well, Personal trainers averaged a full-time income of 25.71 dollars/h or 53,323 /year, ( 2010 Survey – American Council on Exercise) which looks better compared to the 17.38 dollars/h or 36,150 /year made by all fitness trainers (the Bureau of Labor Statistics).
All said it does not mean that you are more successful if you are in the 100$/hour range, nor if you are in 53.000+/year income range! It does not matter how much you can make in total. It does matter how much can you take home after you pay your bills, advertising, equipment, rent and other business expenses! You should first calculate your business expenses and then you can compare them with your income. As stated in Our
As mentioned in my last article, you can make your business more profitable on the both sides. You can raise your income or lower your expenses. Probably you can do both, and exactly that can make the greatest change to your private well being. Doing right moves in these areas need some analyzing, planning and clear understanding. For instance, you should never cut advertising costs if they bring clients and if ROI is positive. If you just wake in the bad mood and start cutting everything, you can easily cut the artery that carries oxygen to your business. Instead, you should first look at advertising, analyze if it is doing any good. If it is the wrong one, change it or cut the cost. If it is your main gate for new clients, take another breath and think twice before making irrational changes!
Have in mind: Whenever you are in crisis and your business is doing bad, you need to invest more in advertising, not to treat it as a cost and cut, even if your bad attitude is telling you opposite! That is what successful companies are doing (analyze->plan->execute->analyze)! The same apply to other costs as well!
Let’s go back to Personal Training Pricing Strategy!
First please understand the difference between:
- How much will you charge from your client!
- How much will you earn per hour/week/year!
Thinking that these things are the same is the beginner’s mistake anyone can do. They are not! You should consider how to raise the value of your working hour and how to fill your schedule with as many clients as possible.
For instance, if you train group instead of one to one approach, you can charge less per customer and at the same time your time will be more valuable!
Even better, use software like Mogy and coach many clients at the same time! Your concurrence ability will step as you will be able to charge less and at the same time your hour will be much more valuable! Not to mention the most obvious benefit that you can fill your empty hours doing remote coaching and workout planning and all clients can go to Gym at the premium time. Modern technology can do wonders for your business!
But, did you check your competition price lists? How much do they ask for their training hours? One thing is how much would you like to make, the other is if you can sell it! On the other side, an idea that you can check the competition and do it for a little bit less money, hoping that this will bring more clients is sure sign of thinking myopia!
Lower prices will be a sign on your forehead that your competence is also small! That is not the way to go! Also, charging more per hour than the average may not be possible until you build strong reputation! Competition is fierce; the economy is depressed, the demographics problems, etc. !
Instead, I suggest you forget personal training pricing per hour entirely! Much better will be, for your hour rates and for your brand awareness to start selling products instead of selling time! Your time is limited; products are not! Products will allow your clients to identify results you deliver. If you can provide real results, very fast you will collect good testimonials.
When people have pain which they need to solve (let’s say that they want to reduce body weight) and you promise to deliver the solution, and you do deliver it, oh what the bountiful days that will be! People will never again ask how much is your hour. Neither you will offer your hours for sale! Now you sell your expertise!
Next time we will keep talking about the products and your role as a business owner and the tribe leader at the same time!