THE COST OF BEING THE BOSS
We spent this week discussing pricing. Pricing is a very important part of a successful business. Joe explained how you can lose customers right from the start if you don't understand how to set prices correctly.
We spent this week discussing pricing. Pricing is a very important part of a successful business. Joe explained how you can lose customers right from the start if you don't understand how to set prices correctly.
Here are a few key things to think about when it comes to pricing your service or product:
- Price is determined by market (high income=high prices / moderate income=moderate prices)
- Market is the income, habits, wants and needs of consumers in a specific area
- Offsite training is more expensive than onsite training
- Independent trainers generally make 70-80% of training price after expenses
- Commercial trainers generally make 20-30% of training price set by gym and doesn’t account for taxes being deducted