What’s your worth? How to set rates as an independent pro
How much are you worth?
No, really.
When shopping, our mindset immediately - in nanoseconds - equates the cost of something with its value to us.
Before we take a thing home (moisturizer, groceries), or eat it (pizza slice, cinnamon roll), or commit to it (Netflix, car terms, monthly rent), we reverse enjoy the anticipated experience - putting our assumptions about the pleasure or benefit it will give us before we actually partake of the thing itself.
Price is as much PSYCHOLOGY as actual market unit economics.
Let’s bring it into fitness/ wellness:
If I told you a trainer charges $500 per hour, what assumptions IMMEDIATELY come to mind?
(take a minute and actually think about it….be honest!)
Did you also wonder some of these:
- Wow, they must be REALLY good
They must be insane
What a con-artist!
I wonder what theyre doing that I'm not
I should study with them
Their clients must be loaded
How dare they? They’re ruining the industry and making it unlivable for the rest of us
They must have 1MM followers on social media
They’re probably peddling THC protein collagen-infused gummies on TikTok and are not REALLY a trainer
All of these are, well, right! Why? Because it’s the story we TELL about price more than price itself that is real.
Let’s try another one:
A Pilates teacher charges $65 per hour in NYC, whose typical rate for a private session across all studios surveyed, is $130/hr.
What do you assume about the teacher?
They’re desperate, they’re an apprentice only, they are probably not certified yet, it must be an intro deal, and then they’ll jack up the price, it’s for Mat only, not all equipment, etc…
The point is: price tells a story.
What MOST fitness + wellness professionals assume -not you, of course! - and, perhaps wildly uninformed from sales training, knowledge, and industry expertise, is that price simply reflects what the market bears around you.
If you set your price by asking around to get research and info about what most others are charging, and then position yourself as you see fit (based on experience, years of studies, your niche market, how in demand you are, etc.) you’re not alone! We all do it.
If we pull back the covers tho, that is a POSITIONING exercise more than a PRICING exercise.
What it does NOT take into account are some key financial objectives for your business as a working independent fitness and wellness professional. How much money do you want to make this year? How many hours will you be working? What are your expenses? What’s the cost of providing a session? How much will you need to spend on acquiring clients, technology stack, billing software, continuing education, fitness studio rental, etc. The problem with ONLY asking around to see what others are charging is you likely DON’T know all of the other relevant data that informs their holistic financial picture, let alone what’s on their 1040 tax return.
So, what’s a better way? What should independent fitness and wellness pros do to set their rates?
Let’s consider key variables:
price as story - how does your pricing reflect your positioning from a marketing perspective
price as income - what do you need/want to make this year?
total income
monthly income
weekly income
number of sessions per week
Price as a Behavior and Coaching Tool
This is a bit tied to the price-as-story bullet above, but we’re putting it here because it’s super important for private trainers.
A single session is a VERY different commitment than a year-long membership, or even a package of 10 sessions. How does your price spark behavior and help create healthy habits for your clients? Price is not only a market-facing sales tool, but it’s also a deeply personal lever that reminds clients not only the value of their work with you, but their ongoing investment in their greatest asset - themselves.
Are you pricing for a trial to get someone in the door? Or to get a recurring long-term client at a rate that’s mutually beneficial for both of you?
You can also use our Trainer Calculator. Great for independent Pros who are sorting out what consolidating their practice means for their life. A quick and easy tool to crunch #’s and make some decisions.
Bodies may be tricky, but your business doesn’t have to be.
We’re here if you want any help!
Oh, and if you enjoyed this, we have more! And it’s super hands-on. Join our Making Moves Series to hear from incredible, inspiring experts who are here to help you level up. Be Independent, not alone. See you soon!