How to Set Rates to Drive Your Business
The goal of successful personal trainers is to actually make a living as one. Your ability to make a living in this business and growth in it is directly related to your rates and how confident you are in presenting them to potential clients. As a business owner, it’s up to you to set your own pricing. Here are a few things I have learned along the way that will help you set rates that you can not only be confident in but can also drive your fitness business.
Where Are You?
Perhaps one of the biggest factors when determining your rates is where you have set up shop. You must consider how much potential clients expect to pay for your services based on similar rates in the area you live in. Cities such as Los Angeles, New York, and Miami are all going to support higher rates for your services than smaller cities or towns.
Your services are only worth what someone is willing to pay for them in the area in which you live. An easy internet search will give you an idea of what factors you should consider for pricing based on your area and your target market. You can find out more about targeting your market in my book, Your Fitness Career.
You cannot forget the cost to you that must be factored into your rates. When you add in travel time, maybe gym fees, and equipment costs, you begin to get an idea of the cost to you for training a client. If you are traveling to your clients, then they should expect to pay more for your services. If you have to pay for the use of facilities in order to train your client or purchase specific equipment, that should be reflected in your rate as well.
Believe in Yourself
There are successful personal trainers out there that charge hundreds of dollars per hour. Those trainers aren’t necessarily better than you; they just believe they are worth that much and live in a part of the country that supports it. It’s so important for you to know that your services are worth the rates you’re charging. You must believe in yourself!
In my years of experience, I have found there are a few things that influence a personal trainer’s self-worth. Know-how, education, and personal belief of what they feel they are worth all play a part. If you want to charge more but aren’t quite confident enough to take the plunge, consider how you can gain more education and experience in order to help you feel like you’re worthy of the prices you want to charge.
What you charge is a reflection of many different things about your fitness business. It’s part confidence and part capability. If you can get to a point where you feel confident in your ability and your prices, then it will only drive your business forward. Remember, successful personal trainers aren’t created overnight! It takes hard work and diligence to own your own business with the confidence you need to run it right and get paid what you know you are worth.
Setting rates to help your business grow can be a large task, but my new book Your Fitness Career can help you to identify how to more effectively set your rates and find success as a personal trainer!
Looking to become a successful personal trainer? Make it possible with my book. Your Fitness Career