A Guide on How to Come up with the Right Personal Training Package Prices
Personal training package prices play a crucial role in determining whether a personal trainer gains the targeted number of clients or not. Therefore, if you are planning to work as a trainer, you should know how to create package prices that will not make you lose business. If you come with the wrong packages, you will give your competitors a chance to make you irrelevant. There are a lot of things you have to do right so that you can come up with a price that will work well for you. Make sure that you come up with a price that your potential clients will accept even if it is higher than what other personal trainers charge. It requires you to have great skills in pricing and negotiations to ensure that your clients find it worth paying the price your charge. This article provides you with a guide on how to come up with personal training packages prices your clients will accept.
Confidence is key
The most important thing that will make your clients trust that the price you are charging is right is the confidence you have when explaining to them. You should demonstrate high-level confidence and explain to them why the amount you are charging is worth. Here you should be able to showcase all the investments you have done in your facility and explain to your clients how this will help them attain their goals. For instance, explain to them how each of the training tools you have can help them attain their set goals.
Why is your pricing distinct from the others?
It is obvious that you do not charge the same price charged by the other personal trainers in your area or city. You need to come up with your personal training package prices based on market research and many other factors. Note that before clients come to your facility for consultation, they might have gone to other personal trainers. Thus, you should be able to explain to them why your pricing is different from others. This is where you have to show how you are unique from them by explaining about your qualifications, vast experience, state of the art equipment you have in your facility among many others. Try your best to show them that even if your price is a bit higher than the average market pricing, your clients will get actual value on what they pay.
Charging reasonable pricing
A mistake many personal trainers make is being unreasonable when it comes to creating their prices. The price does not have to be very high even if you have high-level qualifications or vast experience. On the other hand, a low price still does not work because it shows that you might lack some of the most important qualities to offer high-quality services. A reasonable price is one that is acceptable by clients since it matches the quality of services they expect to get from you. The price should match the economic status of your clients, average market price and quality of your work. The point here is for you to be realistic as you set the personal training package prices.
Pricing models to apply
There are different types of models you can apply as you set the prices for your services. Here are some of the models you should apply.
Brochure based pricing
This is a personal training model with roots from commercial gyms. The model involves having already made prices with a list of all the training services you provide. The price indicated is always constant. The brochure should show your clients how much they will be able to save when they buy the package prices you are offering. The advantage of using this model is that it provides your clients with high-level confidence because they know that they will get the training package services at a constant price.
Open pricing model
This is a verbal personal training model. It is usually based on the ability that a client has when it comes to setting a custom pricing structure. The pricing structure is determined by the goals your clients have and the timeline they want to achieve these goals. When using this model, you should consider several factors such as the cost of the equipment, travelling time and the training facility fees. You should be able to discuss all such factors with your clients so that they can also understand the justification you have to charge the indicated price.
One price model
One price personal training model is best suited for costly trainers. It is a model in which personal training package price is fixed, meaning it does not change regardless of the situations. The price does not go down depending on gym fees, location or equipment. You should use this model when you have high-level confidence about the quality of the services you offer. Besides, you can also apply it when your schedule is full.
So how much should you charge?
After understanding all the tips and the models, you can use, now it is time to think of how to set your personal training package prices. If you are new in the fitness industry and you are striving to attract clients into your facility, it is necessary you experiment with some of the lowly priced pricing models so that you can have income flowing. If you have several years in the industry and want to have more clients sign up for your facility, you can go for higher pricing models.
The most important thing as you set your price is to ensure that you will have recurring income from your personal training business. By doing this, you can easily forecast the amount you earn monthly. It might also not be necessary for you to struggle to get new clients once you get a number of them who commit themselves for the long term. Focus on offering high-quality personal training services, and in the long end, your clients will be ready to pay any prices you charge them.