A yoga studio needs to have everything it needs to survive. The owner needs to know how much they need to charge to cover their monthly rent and bills, and they also need to figure out how much the cost of doing business is. There is also the question of how much they should charge for classes, and how much of that should be held back for advertising.
Pricing private yoga classes can be a bit tricky. On the one hand, you need to set a price that people are willing to pay. On the other hand, you want to be able to afford to pay yourself as a teacher, and you should be able to cover your living expenses through teaching. What is the right price for private yoga?
Offerings like yoga and meditation classes are increasingly more popular and provide a lot of benefits. They acknowledge the physical and mental health benefits of yoga and meditation. These benefits include increased focus, relaxation, stress relief, and overall wellbeing. But how do people find these offerings? How do they learn about them, and how much should they charge? The simple answer is that you must offer as much as you can to as many people as you can, and that is what our guide will help you with. This article will show you how to price anything, from a yoga class to a private yoga retreat, so you will know how to charge for what you offer.
Money is a major source of stress for yogis. We may all battle with the problem, whether it’s earning money or requesting customers for payment. As a mentor to private yoga instructors, one of the most often asked topics is how to set fees.
For many instructors, money is confusing, filthy, and frightening. I see private yoga instructors teaching for free or at near-nothing fees out of frustration, uncertainty, and a lack of support. I’ve also seen yoga instructors apologize for charging a particular amount or for requesting for money.
Many instructors even admit that they would never pay for individual lessons if they could attend a group class instead. They’d tell prospective clients this anyway. Many of my future customers were stuck on a never-ending hamster wheel of single-session bookings and couldn’t persuade consumers to invest in package deals.
Because I’m neither a money coach or a wealth whisperer, the principles I’ll offer you today are based on logic. Before we go into any money ideas for pricing as a private yoga instructor, the greatest piece of advise I can offer you is to find out your money stuff.
Read literature, enroll in a money school, overcome your anxiety of earning money, and then start teaching yoga. When determining the cost of private yoga sessions, keep these factors in mind.
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Rule #1: Don’t make comparisons.
Many private yoga instructors are undercharging or overcharging without providing enough value. While knowing what the lowest and highest rates are in your region is beneficial (pun intended), don’t compare your pricing to those of other yoga instructors as a general rule.
Rule #2: Know what you’re worth.
Establish the value you provide in terms of yoga, impact, and change to your customers. When determining your pricing, start with this figure in mind. Consider the components you bring to each session and don’t be afraid to tell others what they are. Keep in mind that you’re providing something much more important than yoga.
Rule #3: Don’t be cheap.
Don’t try to be the greatest bargain in town. Being inexpensive draws bargain seekers and sometimes non-serious pupils (insert Groupon debate here). Furthermore, consumers would attach less value to a lower-cost service psychologically. Ouch!
Rule #4: Establish a deadline for revising your price.
Have a date with your price structure every four months or so to review it. Pricing is not fixed in stone and is subject to change. Your confidence grows as your services develop, and results follow the effort you perform one-on-one. With practice, you’ll be able to determine what kind of transaction is suitable for your services.
Rule #5: Charge a minimum of $60 each session, however…
Charge at least $60 per hour for private yoga sessions, but don’t feel obligated to charge more if you feel you should. Consider the value you provide, where you live, your experience, and what people get from you other than teaching. Then decide on a price point that is suitable for your product.
Individually, we are responsible for working with customers who are a good match for our skills and whom we can best assist. As yoga instructors, we have a collective responsibility to overcome our fear of money and find solutions to our price problems. As a result, we will all learn to see private yoga sessions as valuable, necessary, and deserving of a monetary exchange.
Use these price guidelines as the foundation for your private yoga sessions for the love of yoga. You’ll gain confidence in your pricing and classes as a result of working with them, and you’ll lay the groundwork for a long-term private yoga teaching career.
There are so many types of yoga classes to choose from. The one that is right for you may seem to be missing out on certain types of classes and facilities. This post will give you 5 simple rules to follow when you’re starting out your yoga journey and want to choose the right studio for you.