How much should I charge?
If you freelance as a Personal Trainer and so get to set your own fee’s, then working out how much to charge is important. In this article, I am going to try and help you work this out.
When I started working in the industry, I was very lucky to be mentored by the guy who made Personal Training a viable full-time job in New York. Bob Esquerre is one of the people that I owe a lot to, and one of the things he taught me, was how to work out how much to charge for Personal Training.
Initially, you need to get the basics in place –
1 – Is your product the best in the area?
To do this, you will need to make sure you keep your reading and education up to date, and you spend time working on your product for your client.
2 – Have you collected the data on the other trainers in your area? What do they charge and offer?
3 – What is your niche? How many people are around in your niche? Who is your competition?
Once you have these questions answered, then we need to start getting into some maths (or math for my US friends!)
1 – How much do you need to earn for the year after costs?
(e.g., £40000 including tax)
2 – How many weeks a year will you realistically be available to work?
(e.g., 45 weeks = 52 – Christmas, Easter, Holidays, Education)
3 – How many days each week are you willing to work?
(e.g., 5 Days)
4 – How many sessions can you fit into one day on average?
(e.g., four clients on average, taking into account travel and times available)
5 – How much will it cost you to deliver the sessions in a year?
(e.g., – £10,000 – Car, Gym Rent, Park Rent, Equipment, Insurance, Education)
6 – Add together the figure from question 1 and question 5 –
(eg £40000 + £10000 = £50000)
7 – Take the answers to question 2,3 and 4 and times them together
(45X5X4 = 900)
8 – Divide the figure from question 6 by the figure from question 7
(50000 / 900 = £55.56)
In this example, for me to hit the target then I need to be full and also charge £55.56 a session minimum.
(*if you pay per session then the money you get after the cut is taken by the gym would be the figure you arrive at, and so you would have to add on the gyms charge after)
So I would charge £55.55, right? No wrong!
£55.55 is your bottom price, and so this is a start point. The next thing to do would be to check out your competitors and then decide where you want to put your price point to support your brand.
In future articles, I shall talk more about your brand and positioning, but it is important for you to know at this point, that whatever the charge you need to deliver the best session you can. The price represents the clients you are trying to train more than being a reflection of your quality.
One of the best pieces of advice I was given by Bob Esquerre, was to charge a premium rate and to judge the price by the pushback I got from clients. If people did not offer some push back when I mentioned my price, then my price was not enough.
Once you choose your price, then you need to work hard to get your product, marketing and branding up to speed to support your price. We will cover more of that in future articles, and this is also something we cover in our new Mentorship courses.