Raising Your Personal Training Fees
Monday, March 9th, 2009
Donna Hutchinson
Have you been contemplating raising your personal training fees? Are you nervous to bring up the subject of increasing your fees for fear that your clients will get angry or even worse, quit? Not sure how to go about it? While it’s never easy to broach the subject of money it may be necessary especially if you initially priced your fees below market value or are incurring additional costs to your business. Here are a few ideas to ease the process when it comes time to raise your fees.
1. Be reasonable about how much you intend to increase your fees. Raising your fees by $5 or $10 all at once will be too much of a jump for most people. If you need to raise your fees by that much then you probably set them too low to begin with. Instead start with a $1 to $2 increase. Overall it won’t seem that much for the client to bear and you will have fewer objections to your fee increase.
2. Explain the increase. While some clients will not care about the reason you are increasing your fees, others may want to know why. There could be any number of reasons why you need to raise your fees. Rising costs to your business, setting your fees too low or you haven’t raised your fees in a number of years. The best policy is to be honest with your client when they ask why. State your reasons confidently and make no apologies. Every business has to increase fees at some time or another. It’s a good idea to include the phrase, “prices subject to change” on your fee schedule. Point this out when signing a new client and let them know the last time you raised your fees. As a customer I would want to know if I was going to get a surprise in a month regarding increased fees.
3. Inform your clients ahead of time. Give your clients plenty of notice when you intend to raise your fees. Provide one to two months advance warning so clients have time to make any necessary adjustments to their budget. Talk to your client in-person or on the phone, not by e-mail or letter. This is more personal and allows your client an opportunity to communicate any issues right away. It also demonstrates your commitment to listening to their concerns and working them out. Follow-up your conversation with a reminder letter or e-mail.
4. Offer additional value. If possible, offer additional value when you consider raising your fees. For example you may decide that after ten sessions your client will receive a complimentary fifteen minute stretch or a travel program. You don’t have to offer additional value simply because you raise your fees but it can be a nice touch.
5. Create a red carpet club. Create a VIP program for your loyal clients and don’t increase their fees. By not raising their fees you reward their loyalty and continue to build good will with your client. Instead increase your fees for new clients only.
It’s possible that you may lose a client or two when you raise your fees. Obviously, that’s not advantageous but it can happen. Money is increasingly tight for people and every dollar counts. However, it’s been my experience that for every client you lose another one will take their place.
If you are really concerned that you may lose too many clients by increasing your fees, then consider cutting your expenses or looking at other ways to generate revenue. Talk to your clients and feel them out. Let them know your situation. If you have taken the time to develop a trusting relationship with your clients they will understand your situation and be more willing to help.
Have you been contemplating raising your personal training fees? Are you nervous to bring up the subject of increasing your fees for fear that your clients will get angry or even worse, quit? Not sure how to go about it? While it’s never easy to broach the subject of money it may be necessary especially if you initially priced your fees below market value or are incurring additional costs to your business. Here are a few ideas to ease the process when it comes time to raise your fees.
1. Be reasonable about how much you intend to increase your fees. Raising your fees by $5 or $10 all at once will be too much of a jump for most people. If you need to raise your fees by that much then you probably set them too low to begin with. Instead start with a $1 to $2 increase. Overall it won’t seem that much for the client to bear and you will have fewer objections to your fee increase.
2. Explain the increase. While some clients will not care about the reason you are increasing your fees, others may want to know why. There could be any number of reasons why you need to raise your fees. Rising costs to your business, setting your fees too low or you haven’t raised your fees in a number of years. The best policy is to be honest with your client when they ask why. State your reasons confidently and make no apologies. Every business has to increase fees at some time or another. It’s a good idea to include the phrase, “prices subject to change” on your fee schedule. Point this out when signing a new client and let them know the last time you raised your fees. As a customer I would want to know if I was going to get a surprise in a month regarding increased fees.
3. Inform your clients ahead of time. Give your clients plenty of notice when you intend to raise your fees. Provide one to two months advance warning so clients have time to make any necessary adjustments to their budget. Talk to your client in-person or on the phone, not by e-mail or letter. This is more personal and allows your client an opportunity to communicate any issues right away. It also demonstrates your commitment to listening to their concerns and working them out. Follow-up your conversation with a reminder letter or e-mail.
4. Offer additional value. If possible, offer additional value when you consider raising your fees. For example you may decide that after ten sessions your client will receive a complimentary fifteen minute stretch or a travel program. You don’t have to offer additional value simply because you raise your fees but it can be a nice touch.
5. Create a red carpet club. Create a VIP program for your loyal clients and don’t increase their fees. By not raising their fees you reward their loyalty and continue to build good will with your client. Instead increase your fees for new clients only.
It’s possible that you may lose a client or two when you raise your fees. Obviously, that’s not advantageous but it can happen. Money is increasingly tight for people and every dollar counts. However, it’s been my experience that for every client you lose another one will take their place.
If you are really concerned that you may lose too many clients by increasing your fees, then consider cutting your expenses or looking at other ways to generate revenue. Talk to your clients and feel them out. Let them know your situation. If you have taken the time to develop a trusting relationship with your clients they will understand your situation and be more willing to help.
