What to charge or what not to charge!
That is the question…
I am often asked by fitness professionals exactly how we go about determining and defining our charge out rates at Peak Physique. And rightly so, many fitness professionals are unsure how the arrived at the charge out rate they are on or how they can leverage their time to earn a greater income with less work.
Are you worth it?
The first question is the most important. Are you really worth it? Well, are you? The answer to this question will be comprised of the following factors including;
1) Technical skills – regardless of how much you value yourself personally, you really do need to be good at what you do. Do you have a personal training style that is a cut above the rest? Are you in high demand and find that you have a constant influx of great clients? I have seen plenty of under skilled PT’s in my time, so make sure that you “do your time under the squat rack”!
2) Personal Skills – do you offer something more than just the physical aspect of training to your clients? Have you invested heavily in personal development to be a constant source of inspiration for your clients? Technical skills are critical; however when you are able to provide valuable life changing tools for people, your worth as a professional, increases dramatically.
3) Experience – the more experienced you become, the better you (should) become. Of course, experience relates to your commitment to constant and never ending business, personal and professional development – these 3 things are critical to your success.
4) Demand for service – do you seem to attract the right type of clients? Are you constantly booked and in demand? What happens to a share price or a great piece of property when it is demand – it goes up in value of course!
Finally, the most important question that you need to ask yourself is:
“Do you truly believe that you are worth that rate you are charging and if you are looking at increasing your rates, then, do you truly believe that you are worth that new rate”?
If there is some doubt, then maybe you may just not be ready for a change yet. Otherwise, you might me suffering some fears and negative thoughts.
Your fears and negative thoughts
If there is a doubt in your mind, then you need to really see where that doubt and fear is coming from. Let’s explore a few common fears that all stem from; “I can’t put my rates up, all of my clients will leave”
| Fear | Your negative thoughts or response | Replace with positive thought |
| My clients will leave | I am not good enough | Believe in yourself |
| My clients will leave | They will think that I am money hungry | You are a professional and deserve a professional fee |
| My clients will leave | They cant afford it | Focus your energy on your service rather than making assumptions on what others think |
| My clients will leave | They wont pay it | They will see the improvement in me and the value |
| My clients will leave | Some may actually leave | This clears a place for the perfect client you want to work with |
Increasing your charge our 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 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 a coffee, or at the end of a workout. Spend some time outlining your reasons. Always seek first to understand, then to be understood.
3) Your reasons are that the increase in rate is brought on about by your experience and demand for service – remember those 2 important phrases!
4) You might consider having mid-way increased rate that rewards your best or longest staying 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 2 X 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 finally best of luck!
