Hello! This week’s episode of Female empowered will be touching on the subject of raising your prices. I will talk about the five signs you can watch out for when you are in limbo of retaining or raising your current prices for the services you offer.
It is a topic I feel that I talk about a lot and many people ask me this question, too. Aside from the five signs, I will also share some tips that I use in my business to make the transition as simple as possible.
People Are Uncomfortable Raising Their Prices
This is something I’ve learned by being in business for the last 12+ years. When I first started my business, I also hated talking about pricing. Starting out as being in a physical therapy clinic, I came from a model where we were really helping people. So, I was in the mindset of helping people OR making money.
I see this in newer business owners. But when you start investing in your business and your professional development, being firm with your pricing or raising it eventually will be easier to do. You will know how much energy, time, and money you’ve put into your business, so you will be confident that you can help people with the prices you set for your services.
Let’s discuss:
· People are uncomfortable raising their prices
· I hated talking about pricing, too
· Invest in yourself so you can be confident that your services are at par with your prices
· You can help people and make money – there’s nothing wrong with that
· You can raise your prices whenever you want
· The Five Signs to know when to increase your prices
· Sign Number 1: Your schedule is always full
· Sign Number 2: You’re getting burnt out and exhausted
· Sign Number 3: You’re attracting problem or difficult clients
· Sign Number 4: A significant portion of your expenses have gone up
· Sign Number 5: Because you want to
· Tips I recommend from our Beyond The Movement Program
· Announce it as “pricing updates” or “studio updates” rather than “pricing increases”
· Create a landing page on your website for the updated pricing and post it in different places
· Prepare for the conversations
· It could be great to have alternatives like offering packages
If you are interested in learning how to raise your prices that align with what you want to do and what you feel comfortable with, we have our Fit Biz Foundations Program and our Inner Circle. Both programs will close for enrollment on October 28. If you would like to get in before October 28, e-mail me at christa@pilatesinthegrove.com or DM me on Instagram.
Looking for advice and resources to help you market and grow your clinic or client based business? Visit my website or follow me on Instagram!
Thanks for listening! If you enjoyed this episode, please leave a review for the show to help other female fitness and wellness professionals find our podcast!
Interested in being a guest on a future Female Friday episode? Email me at Christa@pilatesinthegrove.com!