The process I'm about to outline will work not just for Personal Training clients. But will also for any other service you could offer and are struggling to find the proper price point for.
So, you've started your business and have no clue how much you should charge your clients. Like with everything, it comes down to circumstance.
Do you train very specific niche clients that no one else can train?
Are you just getting into the PT industry?
Are you a mobile in-home personal trainer?
Do you train groups or individuals?
What Value Do You Provide?
Typically, the more VALUE you provide, the more you can charge for your services. But if you're just starting out your prices have to be competitive. You have to gain some traction within the industry and start working out a roster of clients.
Start Low, Finish High
Let's go with the assumption you don't have any clients just yet and your offerings are very similar to other PTs' in your area (Free consultation then a Package is sold to client). Then you will have to price at the same or lower level to develop your name and establish yourself as the go-to fitness trainer in your community.
Once you've developed a full or close to a full roster you have what's called a demand of your services. Economics 101, supply and demand. You essentially have the leverage to charge more for your products because you are in more of a demand. You're at the point where you can increase the price for your services... up to a certain extent. You'll eventually hit a number where you couldn't possibly charge any more money as it's either not morally reasonable or the market won't allow it. How can you increase your prices even further?
So you've maxed the amount of money you can charge. Remember how I mentioned that you could typically charge more for your services based on the value you provide? Well, we're going to revisit the different things you can do to add value to your service.
Use these value-adds to either entice more clients to join your program OR to create a reason why you charge more for your services.
- Diet plan - In addition to your existing exercise plan, give your clients a diet plan they can follow. This will further increase their results as well. It's a win-win
- Track their progress using quantitative data - How many personal trainers track all the lifts, muscle gain & weight loss their clients are going through, add them to a spreadsheet and create a graph to visually display progress? Very few, but visually displaying progress is a lot more appealing to people.
- Being a "Personal" Trainer - You should be doing this anyway. But the better your relationship with your clients the higher the retention rate will be and the happier your clients will be as well. Mark-down your clients birthdays, write them a Happy Birthday. Give them a free birthday session and just be a trainer that's easy to get along with. Not everyone needs that super strict trainer that needs their clients to be on the verge of complete exhaustion (although some do).
- Always be available - Your PT session doesn't end when you stop training. Let your clients send you a text message, email or phone call. Let them know you're available to help them whenever they need.
- Promotions & Discounts - Can you partner with another brand or company that provides discounts to anyone who trains with you? Contact companies that you think can provide some value to your clients. Ask if you can provide your clients with some discount rates and send it to the people you train.
- Monthly Giveaways - Have a client that was really outstanding? Appreciated the work a client has put in for the month? Do monthly giveaways, it will start a little friendly competition to see who will do better.
There are tons of ways you can add value to your service. You just have to be creative. Have fun with this, ask your clients how you can better your service. Just make sure to always provide as much value as you can. That's how you will keep getting new clients and retain your existing ones.
If you want to walk through specific value-adds you can apply to your specific business don't be afraid to reach out. You can contact me here.