Are You Charging the Right Amount For Your Online Fitness Services?
At the end of the day, the goal of your online fitness business is to make money. Of course, it’s important to be passionate about helping your clients, but you’re not doing this solely out of the goodness of your own heart.
You need to make a living.
Those who are new to online personal training often agonise over exactly how much they should charge for their fitness services.
But, it’s not just newbies who have these worries. We see personal trainers come to us all the time with pricing structures that are working against them - putting in hours and efforts that simply aren’t returning on their investment.
So, where do you start? How do you know if you are charging the right amount for your
online fitness services?
“How much should I charge for online fitness coaching?”
The bottom line is - you should charge whatever you want to.
Yes, there are a number of factors that you will need to take into consideration.
Yes, you can only really charge what your clients are willing to pay.
However, remember that this is your business. What works for one trainer might not work for you.
On average, our personal trainers at Stridist are charging between $200 to $400 per month for 1-2-1 online fitness training plans.
But, it doesn’t mean this is what everyone should charge for their online personal training services.
So, consider these points when deciding how much you should charge...
How much does it cost you to acquire and work with a client?
It goes without saying. This number should always be lower than the price you charge for your online fitness services.
BUT, this relies on you accurately toting up not only the money you spend, but the time you spend, too.
So many people forget to include things like…
● The cost of any adverts you have been pushing
● The time you spend on creating content to capture those leads
● Any fees for your website and equipment you’ve had to buy
● How long it takes to discuss signing a client up and onboarding them
● The time and resources you will need to spend on the client every month
Make sure you have an accurate figure of what you spend and what you need to pay
yourself to ensure you are charging the right amount.
How confident are you in your sales technique?
Are you new to selling your online fitness services? If you don’t yet feel confident in your sales tactics, or feel like you don’t have the experience to fully back yourself up yet, this might affect how much you charge.
You might hear from so-called fitness ‘gurus’ telling you to charge hundreds or even
thousands a month for your online coaching.
But, if YOU don’t believe your services are worth $300 a month, how are you going to
convince someone else that they are?
Do what is right for you and your business. If higher prices are putting you under too much pressure or making you feel uncomfortable, start lower and work your way up.
So long as you are happy with the profit you are making, take the time to work on your
techniques and build up that experience.
Learn how to get over any fear of selling you might have and revisit your pricing plan when the time is right.
How many online fitness clients are you aiming to have?
One of the biggest benefits of taking your fitness business online is that you can multiply the number of clients you can cater for significantly.
This offers a huge potential that you just would not have through traditional “in-person”
training. You are no longer limited by the hours you have free in the day - more specifically, those post-5pm and weekend hours when you could be at home with your own family.
With this old model, you might feel under pressure to charge more just so you can make a good living from the limited number of clients you can physically see.
When taking your business online, you have the freedom to take on more clients.
You can then set yourself goals. If you are aiming to maintain 20 clients online at any one time, then this can give you an idea of how much you should be charging for each plan to meet your financial target.
Are you keeping track of your finances?
You won’t know if you are charging the right amount for your online fitness services if you aren’t aware of exactly how much money you are making.
Keep your pricing consistent by using a personal training price list template. Keep track of how much each service costs and how much time will be spent on it.
You should also know what your bottom line is for every client and your business as a whole.
Are some services leaving you with less profit than others? Is this something you want to change?
Then do it. The key here is keeping your business scalable.
All of your clients should leave you with a healthy profit without draining you of your energy and time.
If they aren’t, it might be that you need to change the amount you are charging.
How much are other online personal trainers charging in your niche?
One of the great things about an online fitness business model is that you aren’t limited to your location alone.
So, while the typical price for a personal trainer in your area might be £100 per month,
remember that you aren’t limited geographically. There’s no reason why you can’t attract online clients from another area where they are willing to pay more.
This means that comparing your prices to other trainers in your area isn’t really going to help that much.
But, one thing you can do is take a look at what other online coaches are charging within the same niche as you.
Having experience in a specific fitness niche can be hugely beneficial. Not only does it
differentiate you from competitors, it can help justify you in charging more for your expertise.
It may be that you find that demand is high for your niche, but you are one of just a few
coaches offering that service online. See what those other trainers are charging and make sure you aren’t underselling yourself.
What’s more, if you think you have more experience and get better results than other online trainers in your niche, then don’t be afraid to price yourself higher.
Show off what you can do, know your value and produce a price list that reflects this.