How to Price Your Online Fitness Business Services
How to price your online fitness business services?! 🤔
Firstly, I think it's really hard to state what you should price your services at because I think it's very different for everybody but coming from a physical fitness business, transitioning to online, it can be really difficult to a charge your worth and get out of that habit of charging for your time.
If you've always worked in a way, getting paid for the hours that you work, it's really hard to then go into online and charge from a place of value rather than the time that you've invested.
And with a lot of online services, we create something once that you can then sell and serve on repeat. It's very different from providing a real time face to face service, where you are physically giving your time.
Switching your mindset to pricing to the value and the results your clients receive, the transformation that the service provides, is something to get your head around when it comes to transitioning online and pricing your online services.
Write down everything that the service provides in terms of value.
- The hours that you've actually spent creating that online service
- The hours that you're spending on an ongoing basis to promote that service or to deliver that service
- The transformation the service creates.
- The way the service makes your clients life easier and more convenient
- Your expertise to be able to deliver the service.
What does the service provides in terms of transformation?! That's how you're pricing an online service.
Let's look at this in terms of an online fitness business. If you've got an online course, that helps somebody to get a transformation, whether that's a weight loss transformation, whether that's a transformation in terms of reducing back pain or it's a transformation in terms of them feeling better, moving better etc, something that is highly valuable to your client. Even if you've only recorded five hours of work to create that course, the value of the transformation to that customer is huge. They are paying for that transformation, not for the hours that you have put in to creating that course.
If you had a Pilates course and it really helps your clients to improve their back. If that client has had to take time off work for that back issue, your course could help them return to work. So it means that they can be earning money because they've used your course to help with their back problem.
You're really looking at the transformation that your online service creates rather than the hours that you've put in. And that's what you really want to price your services around.
It can be really hard because sometimes it's hard to put a price on the transformation that you are creating. It's hard to put on a price on helping somebody reduce their back pain is hard to put a price on creating a better quality of life for people.
Get behind a price that feels good for you. It's a price that you can maybe be quite flexible with. So if you're starting with a lower price when you first launch it's a price that you can then gradually increase. If you're starting with a really high price, then it has it gives that flexibility to do some flash sales where you can create some urgency of people signing up at a lower discounted price.
You might be coming from a face to face business, where you're really in that ingrained mindset of charging by the hour. And so then it's really hard to set a high value price for your online services because deep down you feel like you can't charge a high price because you're not physically doing hours.
You almost feel like a fraud. But changing your mindset and your perspective of the service providing in terms of transformation, convenience, quality of life, long term goals for that client, you can start to get behind how truly valuable your service really is and also use this mindset shift to increase your prices for your face to face services too.
There's probably going to be lots of things coming up for you in terms of feeling that imposter syndrome. I want you to know that if you write down all of the value, every single bit of it. You can really start to get behind some higher prices that reflect your value as a fitness professional and the value your services provide.
Try to go beyond the time that you're investing and actually go into the expertise that you have, what it has taken you to get to your level of expertise so you can help your clients. The qualifications and courses you've invested in to be able to provide that service and that all comes into the value of your service.
You're not only looking at that time exchange, but you're looking at the bigger picture of the value that you're providing.
If the client goes through that program, if they commit to that class, how will it improve their life? How will it transform them? And then look at your expertise, your specific expertise, your specific qualifications that you have invested in to be able to provide that service to them and to be able to give them that transformation.