How Much Should You Charge For Virtual Sessions?

Like it or Loathe it online teaching is here in full force. Studios across the world are closed or in limited operation these days due to CV19 and if you’re in a position like me it’s indefinitely closed. And, now you’re faced with either going online or not teaching at all. Teaching is your gift, your outlet, your dream and for almost all of us our livelihood. So, how much do you charge when you go from in-person sessions to Zoom, Skype, etc sessions?

For those of you who have been reading my blogs for some time, following me on IG and are in my AGENCY group you know how adamant I am about knowing your numbers. Knowing how much to charge for your offerings in general. This time may feel different in the world but the difference in how the world feels does not mean you throw your numbers out the window. Or, that you need to charge what everyone else is charging. Or, discount yourself. To know how much to charge you need to know your numbers. Here’s how to figure out yours:

How much do you want to gross in a year?

How many weeks a year will you realistically work?

How many days a week will you work?

How many hours in a day?

Take your annual gross divide it by the weeks you’ll work, divide that by the days you’ll work and then divide that by the hours in a day. The answer is the lowest you can go for your hourly rate.

So, how much do you charge for your virtual sessions? The amount you got above is a good starting point.

It’s also the starting point for IRL sessions. I know you’re thinking everyone is doing all these free lives and offering deep discounts. But, when you start teaching virtually and your clients start taking virtually you all will see and feel that virtual is anything “less” than real life. In fact, it’s harder!

And, you need to use this time to be planning for how you want your business to be operating when we are allowed back in our studios.

Discount your time now and it’s harder to charge more for it later. Your LIVE time is the same no matter if you’re in a studio or behind the camera.

If people cannot afford your privates now is a great time to group people off in duets and semi-privates. They can save on the hour, you make more for it and you can work less. This way you do not discount your time. Also, when we are back in the studio if a client is traveling they will likely book their online private session. But, if you discount it now, how will you handle it in the future. Are you going to refund them the difference when they are running late and decide to do their session from home? No, you’re not. So, maintaining your prices but offering options for people to share the session with one or two others can help them “save” on the session. And, they can invite their friends, family or co-workers to these virtual sessions. And, now! Check that out you’re growing your client list!

What about class prices? I am getting this question a lot. Especially from people who either never offered Mat Pilates classes or if they did they offered them at a discounted price from equipment. In my opinion, all classes should be the same price in a studio. Pilates on equipment or off is the same value. But, since we can’t go back in time and change your set up I recommend going back to the equation above and having a baseline price to go off of.

 

Let’s say your baseline hourly rate has to be $100. Look at your client list. How many can you guarantee will show up? 6? 3? 10? Your challenge is to get honest with the number of people you know will show up. And, that minimum should cover your costs. AKA gets you to that baseline or above it. Then everything over that is bonus. And, during a time like this making up for the hours you are not working anymore.

So, before you load up your schedule with 10 live virtual mat classes consider having 6 and making the equivalent of 10.

I know you’re scared. I know this is weird, bizarre, upside down and you’re worried. Havard Business Review wrote a great article about how what we are feeling is grief. So, please definitely feel your feelings. But, now is not the time to discount yourself so that you feel like you’re working. Being busy does not equal being in business.

Your clients WANT to SUPPORT YOU TOO! They need us now more than ever. And, I am not saying you need to exploit that. No, not at all. But, they need you to more than survive this period of time. Your clients need you to be able to teach, be in business when we are able to go back outside and into studios.

So, how much will you charge for your virtual sessions?

If you’re still struggling with how to streamline virtual sessions, wondering about different platforms, taking payment, lighting and more my webinar on “how to lead virtual sessions and classes” is now a course. It’s helped so many studios around the world entire this online world.

Remember, you are the only person who can teach the way you teach to the people you are supposed to teach.

xx~LL

How to Know What Rates to Charge Your Pilates Clients

How did you decide what to charge for your Pilates sessions when you became an instructor? Did you set your rates that same as every Pilates instructor at your studio? Did you guess? When it comes to your Pilates business being successful and profitable, it’s not always about more clients or more offerings. It’s about charging the right prices for what your services offer.

When I ran my Group Classes webinar and my Rates, Revenue Streams and how to raise your rates webinar I received some of the same questions and concerns. “I have a home studio, so I feel I should charge less.” Or, “I’m a senior instructor, and a new instructor in town is charging more than I am.” The truth is there is no exact rate structure I can give you so that you can easily and confidently set your rates for your Pilates business. But, I can provide you advice on how to dive into your Pilates business to set prices that work for you.

When setting your Pilates studio/business rates keep in mind:

-How much training have you had
-How much continuing education do you do each year
-Your studio bills and overheard
-The amount of income you need for your life divided by the number of hours you can teach
-What is the cost of a session: distance to get there, utilities during that hour, equipment, etc. Determine the cost of a session and     then add on to that amount to cover your pay (or your teachers pay), taxes and profit for the future.
-Your competitor’s pricing. Please don’t use this as a way to compete on price. You and your competitor are very different. And,         the costs to run the services can be vastly different. But, you do need to know what your competitors are charging so that you           can market your unique qualities and highlight the offerings that you have that is added value.
-Perceived value: what are your clients and future clients perception of the services you offer. How inspired are clients to work           with you? How much can they trust you with their bodies needs and goals? This perceived value is key to converting new clients     (as discussed in our course here).

The most important thing to remember is that you do owe it to yourself and your business to take time to do the research and make sure that your rates reflect your offerings, cover your costs, create profit for you to grow your business and most importantly stay in business.

Signs you may need to evaluate your rates
You haven’t raised them in two years
You hear things like “you’re a bargain.”

My fellow Pilates instructors your rates can be the difference between overworking, underpaying and staying in business. As you choose your prices for the sessions, you offer to keep the package options to a minimum. Only provide session types you want to teach and make sure you can say your rates out loud with confidence. If you feel unsteady in asking for what you are worth call me! We can work together on this.

For more rates, advice check out our Group Classes course and our Rates, Revenue Streams and Raising your Rates course.

Pilates pro’s, I have said it before in my “Never Apologize” for your rates blog. And, I will say it again, You are so worth what you charge. And, the world needs Pilates instructors so you need to be able to make a living doing what you love: Teaching Pilates.

xx~LL