As a personal trainer you often have the freedom to charge any rate you like, but you need to make sure your clients are getting value for money or they might not return. So how much should you charge? There are several factors that can influence your price, so here are a few tips to help you decide your best rate to charge as a personal trainer.
Here are some of the factors you need to consider when setting a price for your personal training services:
Your pricing model will depend on the average rates charged by other personal trainers in your area. While charging $90 an hour in an affluent Northern Beaches suburb may be reasonable, charging the same in a regional or country town would be far too overpriced. To determine your area’s average rate, simply research websites of local trainers or gyms to see how much they charge and adjust your prices accordingly.
While researching other trainers in your area is a good start, you also need to consider your personal experience as this is one of the most important factors when it comes to setting your price. Think about how long you’ve been in the industry, how many credentials or certificates you have, if you’re continuing your PT education, and ultimately, what you believe your services are worth.
For most personal trainers, especially those just starting out, the goal is to attract a steady flow of clients. While it may seem logical to try to appeal to as many people as possible by setting an extremely low price, the better option is to focus on a target market and set your price based on that target market and their needs.
For example, if you prefer working with clients at their homes, perhaps try and appeal to stay-at-home mums and then charge for the session, equipment, and the travel costs to get to their location.
As mentioned above, training clients in their own home will require you to purchase your own equipment, along with the added cost of transportation. On the other hand, if you’re training in a gym, then you have most of the equipment you need at your disposal. Determine if you have to include the costs of fuel, commuting, buying equipment, or gym fees into your pricing structure. Make sure you also factor in costs for relevant insurance, as this is often a cost many first time PTs forget.
Are you in an area bustling with personal trainers, or are you one of the few? Do some research to find out how many trainers are in your area and what type of training they offer. Adjusting your services and consequently your prices in accordance with the local market is an easy thing to do that will keep your personal training service competitive.
Is there a lot of demand for personal trainers where you live or work? Personal training is often considered to be a luxury item, so if the economy’s in decline or there’s an employment crisis, then you’ll need to to adjust your price to fit in with local supply and demand.
As a personal trainer, you choose the kinds of sessions you want to run with your clients. Depending on the number of people you’re training and the location you’re using. You may run:
By taking each of these into consideration, you’ll ensure your price is reasonable for your customers and they’ll be more likely to continue using your services. But be sure to revisit your price regularly and adjust when necessary, as conditions are always changing.
The following are some pricing models you might think about using as a personal trainer:
A one price for all model involves charging a fixed amount. Trainers who have a full schedule and steady flow of clients would be best suited to this pricing model, particularly an expensive trainer or personal trainer who can afford to set a high price and still attract clients.
This pricing model allows the trainer to adjust their prices depending on the individual client. Considering a client’s fitness goals, travel expenses, and equipment costs, among other things, you can set an open pricing model to ensure both you and your client are getting the best value for money.
An example of this model would be if you’re offering to go to the client’s home you can charge more than if they come into the gym to train.
This type of pricing model is common in gyms and with trainers who work in a gym. This is a pre-set list of prices that gives a client peace of mind because it offers a consistent price.
You can use this pricing model by offering clients discounts for multiple bookings. This is a particularly good strategy if you’re a group fitness instructor, or if you want to increase cash flow from single sessions.
To get equipped with the latest personal training skills and knowledge, and for all you need to know about pricing and more, check out the Australian Institute of Fitness’ personal training courses. You can choose from: