Today I'm answering a question from a coach who wrote into saying..
I legally set my business.
I have my insurance.
But I'm now stuck with what to charge clients!
Can you please help me? "
Now, this is a question I get asked all the time by coaches who are just starting up their sports business.
If you are a coach reading this and you're in a similar situation I want you to think about these 3 things:
When you think about your price you can't base it off what other people do because those people might have more experience and more or less confidence than you at selling their program.
The way you have to look at it is based on what you are offering to clients and not what others in your area are charging. When I first started my business I made this same mistake! Normally if you follow someone's pricing who is cheaper than this may result in you attracting less clients into your program.
2. Breakdown your offer
If I just said to you to charge 100-500 dollars an hour you might not want to do that which means you need to sit down and break down what is included in your program. When you figure out what you're exact offer is then you will be able to come to a conclusion on how much you should be charging for your offer.
So many coaches and trainers overlook this part of their program because most simply think that they are just going to demand a high fee when there isn't really a value in place. At the end of the day it doesn't boil down to to the price, it depends on the time you are dedicating to prepare for the session, drive to the session and delivering the session. Also, most coaches don't take into account the time it takes to talk to people when the session is done.
3. What is the offer (what would you pay for the offer?)
I want you to figure out what is the offer (not how much is it) instead what are you actually offering your clients when they get to rain with you. When you focus on those things you offer then coming up with price will become very easy.
When you start charging your clients ask yourself how much would I pay for this service? Would I invest this amount of money if I had a child?
If you're not willing to pay for this type of service it's going to be really hard to be able to sell it because you're going to feel uncomfortable asking for that amount of money so this is where you need to ask yourself how much would I pay for this service?
If you would pay x for this service the you will be able to confidently demand x amount of money from clients for that service.
I hope this helps,