WHY CHARGING MORE IS THE KEY TO KEEPING YOUR CLIENTS AND BECOMING A PROFESSIONAL COACH
$165 a month. That’s the 2023 average cost for an unlimited group class membership at functional fitness-type gyms.
This price hasn’t changed much in the last five years or so, while 15 years ago the going rate for a group class membership was $135 a month.
Simple: Most coaches are simply scared to charge more. Or at least you think your clients won’t pay more. Further, you see the other gyms around them charging $165, so you assume this is what you should charge too.
So, you bring on new clients and toss them straight into group classes (or maybe you put them through a few group Onramp sessions first to get them up to speed) and start collecting $165 a month.
The result: Clients churn, coaches churn, and the small gym owner is left wondering why they’re still doing this. (The average length a client stays at a gym is in and around seven months, while the average coach lasts less than two years).
There is another way. You can charge $300-plus a month for a high-value, hybrid membership, where clients receive the coaching they need to stick around for years, where coaches have the chance to become professional coaches, and where the business can actually be profitable.
High-value and professional coach: What exactly do these terms really mean?
By high-value, we mean clients who pay $300 or more, where they receive a premium service from a professional coach they have a real relationship with. A coach who knows the client’s wants, needs, training and health history, goals, priorities (ie what’s really going on in the person’s life).
By professional coach, we mean a coach who can earn a professional wage—professional wage = > Median Household Income x 1.25—year-after-year servicing their high-value clients.
If this all sounds daunting and you’re still wondering how you can convince someone to pay twice as much as they’re paying now, consider why your current group class clients might actually want to be high-value.
A client paying $300-plus for a hybrid membership:
As a result, the client sees actual long-term results, which is the ultimate key to client retention. This means they never have to find another gym, another coach, or another program again.
And for the coach, it means you can finally earn a professional wage as a full-time career coach who is truly making a difference in your clients’ lives (rather than cheerleading and time keeping during a group class to make $26 an hour).
Bottom line: To become a full-time, career coach who can earn a professional wage, you have to be more than a group class coach who tosses new clients straight into classes for $165 a month. You need to provide more, be worth more, and to charge more for it.
For more about becoming a professional coach who can earn six figures, check out this Mini Webinar for coaches.
If you found this article helpful and would like to see exactly how these types of strategies could improve your sales and dramatically increase your revenue on a consistent basis,
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