All Personal Trainers at some point will have to set their own training prices. Time is your most valuable asset. How much you charge clients is probably the most important decision you make. If your session price is too low, you may have a booked schedule; but not enough income to support your expenses and cost of living. If you price your sessions high or significantly higher than everyone else in town you may not get enough clients to support your business. Do not select your fees based on what you think your clients are willing to pay. You must invest time in researching industry trends and local marketability for the industry. NPTI Florida (Orlando/Tampa) owner Patrick Sherman suggests starting with a few basic steps:
Step 1: Do some research.
Clients will pay vastly different rates for goods and services depending on your location. Unfortunately, there is no single guide to reference this information locally. I suggest visiting other like business websites and document their fees for service. Research the associated fees for 6-10 like businesses that offer Personal Training in your area. Take several notes about pricing, services offered, experience, and how you perceive their personal training programming and facility. NPTI also suggests visiting the facility and location as well.
Step 2: Do the math.
The top three factors to consider when setting your session prices if you want to succeed:
What are your associated costs/expenses?
Write down all your monthly costs for your Personal Training business. This should include everything from rent, gas, utilities, phone, internet, trash, water, printing, website, SEO, cell phone, staff, salaries, education, license fees, equipment, insurance, cleaning, etc. Some expenses may be broken out as quarterly or annual.
How much do you need to earn?
Many Personal Trainers consider themselves in the business to help others and not get rich? This is the
time to be honest with yourself. No one starts a business to have a modest life or low-income career. If your goal is a six-figure salary, then work toward that goal incrementally.
How many hours are you willing to train?
Once again, be honest with yourself. Did you go into business to work 8 hours or 12 hours a day? Based on your above calculations and number. You can calculate what needs to be done to achieve your income potential as follows:
Price per hour equals= (your costs plus + how much you need to earn) / (number of hours you are committed to train).
Most importantly, if you have invested in your future by becoming an educated highly trained personal
trainer; then your clients will recognize the difference and be willing to pay for your time. Stand out
from the crowd, make a difference, and your client base will grow.