You have a pricing problem. Specifically, you aren’t charging your clients enough for your business.
How do I know this?
Because I hear from personal trainers and business owners like you all the time saying you’re nervous about “charging too much.”
While I’m tempted to say that this is a symptom of a scarcity mindset, I’ll give you the benefit of the doubt this time and try to clear things up for you.
After all, pricing can be a surprisingly tricky thing.
In fact, some of the things I’m about to say may seem counter-intuitive, but trust me…all of this stuff has worked for my business and it will work for yours too.
And while we’re on the subject of pricing, you may be thinking that if you price yourself too high your competition will come and undercut you with lower prices…
I’ll go into more detail about this below, but the short answer is that anyone who is chasing their prices DOWN is not someone you need to worry about.
So let’s take a look at my top 3 reasons why you should out-price your competition.
Reason #1 – Your Business is Worth it
Let’s talk about what makes you different and better than any other fitness program in your area.
Here’s what I mean…
From time to time you’ll get calls and emails from people who want to know what you cost and why you cost so much. In fact they might even tell you that the boot camp down the road and the personal trainer around the corner is cheaper than you.
In your business you do one thing and you do it better than anybody else. Would you agree?
That’s what you do, and you do it better than anyone else.
But for that line to work (and to be true) YOU have to deliver the results consistently, regularly over and over again.
For example, look at some of the major players in my own business, Fit Body Boot Camp…
Look at Nate Dilworth, Matt Wilber, and Josh Carter – all charge a premium in their area, have competition around them and are the leaders in their market. Why? Because they continue to pump out client results over and over again.
They don’t just have one success story… they have many and they continue to showcase new clients who are experiencing massive fat loss over and over on Facebook, in email and on their “wall of fame”.
That’s why they can charge more than others in their area, and when asked how they compare to the cheaper place around the corner they can say the following with full confidence…
“You will never hear the words cheap and best in the same sentence. So if you are looking for a cheap boot camp those other guys are a good choice. If you are looking for results, then we are probably what you are looking for. We don’t price match. We beat results”
How your facility looks, smells, and feels matter.
Your dramatic demonstration of proof matters.
Your confidence in yourself and in your product matters.
You’ll never hear the words CHEAP and BEST in the same sentence.
Reason #2 – You’ll Close More Sales
Let me tell you a strange story that has become something of a legend in the world of marketing and sales:
A woman who ran a jewelry store had a particular case of jewelry that she just couldn’t sell. Bracelets, rings, necklaces, earrings – all beautifully designed and made of the finest materials.
And she couldn’t figure out why.
She tried repositioning them all around the store, putting them on sale, running special promotions – everything you might imagine a retailer would do to move her product.
Still no sales.
Finally, she gave up on that set of jewelry and decided she just wanted to get rid of it for good, sales numbers be damned. When she left for her next vacation, she left a note for her assistant saying to mark the entire case of jewelry at ½ their original prices.
Then her assistant misread her note and actually DOUBLED the price of each piece of jewelry…
And then the weirdest thing happened.
When the owner came back from vacation, she discovered that the entire case had sold out at DOUBLE their original price.
She was confused, but very happy with the outcome. So happy, in fact, that she made this a standard practice and repeated it multiple times a year from then on…
And every time, this weird little pricing trick worked.
So what’s the lesson here?
Well, when she kept bringing the price of jewelry down she actually made it less enticing to her customers, who saw it as cheap, common, and disposable.
However, when she brought the prices UP, her customers saw that same set of jewelry as high-quality, rare, and precious.
This same principle applies to your own business: since you have a great product, you need to price it high so that your prospects know that it is a quality product.
Reason #3 – You Have a Moral Obligation
Let’s take a moment to remember the reasons why you got into business to begin with…
You did it so you could provide your family with a better life and better opportunities than you ever had.
You did it so you could help as many other people as possible solve their most urgent problems (while also making a great living for yourself).
You did it so you could live out your true purpose and share your gift with the world.
Those things all still apply, even when it comes time to decide on your price.
This is not the time to be timid or uncertain. All of those things require money.
Without money, your business will not grow, you won’t be able to help other people, and you won’t be able to provide your family with the comfort and the opportunities they deserve.
So set your prices high enough to give you your dream life and follow up by delivering the best results in town and dominating your market!
Committed to your success,
PS. Like I said earlier, pricing can be tricky. If you want a more specific, hands-on guide for pricing, I strongly suggest you sign up for my fitness business coaching program, Fitness Business Ignition. Sign up today!