How to set your Prices

The fitness industry is expected to grow more than any other industry between now and 2026. With new fitness professionals entering the fitness industry every single day, you obviously want to maximise your profits and salary. So, what prices should be charging?

Firstly, you need to know your worth! This will primarily be based on a few factors, which include:

– Your experience

– Your qualifications

– Your location

– How pleased your clients are with their results

These are the first questions you need to order in answer to identify your place on the market.

Secondly, what are your personal costs? Your prices need to ensure that you can cover your personal costs and life. You also need to ensure you’re making a profit you can re-invest into the business. Ask yourself the following questions:

– How much money do I need to make to live comfortably?

– How much money am I spending on my personal life such as rent and other monthly out goings?

– How many hours of work do you need to put in to ensure you’re effective?

Thirdly, you need to investigate your local competition. These organisations and individuals don’t have to be your enemies, they can infect help you out a lot! You need to work out how many there are in the local area, what their niche is and how you differ from them!

Next, you need to consider the area’s demographics.  Are you in a large city area, or are you out in the sticks? You need to factor in the cost of living for that area as well as the facility in which you can use.

Ultimately, you need to choose a price which you believe ensures you aren’t selling yourself short!

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