Increasing Your Charge Out Rates
When the time comes for your charge out rates to change, you will need a strategy. The following is a template that we have successfully used at my Personal Training business Peak Physique for a number of years:
1. Set yourself a date that’s roughly 4-6 weeks in advance
2. Draft a letter to every client, deliver it personally and discuss any objections. Do this over coffee, or at the end of a workout. Spend some time outlying your reasons. Always seek first to understand, then be understood.
3. Your reasons are that the increase in rate is brought about by your experience and demand for service – remember those two important phrases!
4. You might consider having a mid-way increased rate that rewards your best or long standing clients (the ones that have given loyal service for years) in addition to your greatest rate that is for all new clients that start after that date.
5. Have a fall back plan if your client will not move on price, this is rare, however at Peak Physique we have other more economical PT’s to train with. You might consider linking 2X clients up for a 2 on 1 session, or consider seeing clients on a different rotation – get creative if you need to find a solution.
6. Be prepared to walk away if it is not a win/win deal. You need to be sure that both parties are happy with the outcome.
Surround yourself with successful mentors, be committed to continual business, personal and professional development and we are sending you our positive energy!
Brad Sheppard B.Ed (Phys.Ed) Create PT Wealth