I was recently asked to share how I price my services and which factors to take into consideration. This was from a yogi teaching private yoga in a market that is saturated with newly certified yoga teacher every year with a limited number of residents in her community. I addressed the pricing issue for private yoga sessions in this article.
Pricing your one-on-one and in-person services is one thing, however, figuring out a rate that works if you take your yoga teaching online is a different ball game. You want to be fair, not be in competition with the hundreds of yoga services that are already offered online, and at the same time don’t undervalue your services.
So let’s look at this from a practical angle first.
Pricing Online Yoga Programs – 5 Important Considerations
1. Your Cost – Initial and Reoccurring
If you teach online you have a certain set of cost involved. Even if you use mostly free services and do everything yourself there are still expense that come up at some point.
Some costs may be
Paying a virtual assistant
Themes or plugins
Licenses and other reoccurring fees
…. The list can go on. Some of these may apply to your online yoga business, others won’t, and more often then not we don’t even take notice of automated payments for these services coming out of our account.
It’s a good idea to sit down and take stock of your annual or monthly expenses for these things when trying to figure out what to charge for you online program, product, one on one services or subscription model.
2. How Much Contact Time Is Involved?
Pricing your services may depend on how you set up your online business. The more actual contact hours your provide to your students or clients, the higher your rates should be.
For example, if you offer a subscription to yoga videos on your website and also one-on-one private yoga via Skype, clearly you will be charging more for your Skype sessions since you are now there in person with your client for a period of time while your yoga videos don’t require any time from you once they are set up.
If you have created an online program you may offer two versions, one that has you there for one-on-one access at a higher rate, one that offers your program without personal sessions at a lower price point.
3. Knowing Your Market
Being very clear on who your customers are will help you charge the right amount. If you offer online one-on-one private yoga for women who are entrepreneurs, divorced, are between 40 and 59, have their children out of the house and are financially set and independent ….. You may be able to offer services at a higher price point and have a full practice.
If you want to teach one-on-one to college or university students who don’t have any expendable income yet, you might be of greater service offering your sessions at a lower price point, offering group sessions that are more affordable, or create an online program or subscription model your chosen perfect client can afford, will be happy to pay for and will give them the most possible benefit.
(Please understand these are just examples.)
Knowing who you serve is huge not only in determining your price points, but also to decide on how to make your services available to your clients online.
4. Packaging Your Services For Value
Creating “programs” or courses rather then offering “just” yoga videos or yoga sessions on Skype will also enable you to position yourself in your marketplace, to offer higher valued services and ultimately charge different rates for the great value you offer.
Creating programs is certainly a known practice in the online world and yoga is no exception.
If you search for yoga programs online you will find a wonderful selection of courses and online programs created by yoga teachers that target specific problem they offer solutions for.
You will see yoga for depression, yoga and nutrition, yoga wellness programs and whatever else you can think of. There really is no limit to what you can dream up and offer to your preferred customers.
You will find that online yoga programs often have an attractive price point and offer valued features like recorded videos or audio, handouts and exercises, live or recorded calls, and forums or Facebook groups.
Students who find you online will already be familiar with online programs and are usually happy to pay for this kind of service.
Yoga Business School teaches how to create programs and might be a good fit for you if you are just starting out as a private yoga teacher or with teaching online.
5. Look To Your Competition
I never suggest you should charge what others are charging, however, especially when you are new online and really don’t know where to even start with figuring out what to create and how to charge for it, look to others who already have a foot in the door.
I suggest to get to know your peers, have a conversation. Be open, be honest, and ask how well what they do works for them, and how they determined what to charge for their programs, subscriptions, courses or private online sessions.
Most people are open to having a conversation and this is a nice way to make new friends in your market and lay foundations for possible future joint endeavours.
In closing I just want to say this is not a hard and fast world. You can change your pricing down the road if what you do now doesn’t work for you.
Keep an open mind, don’t be intimidated by taking your teachings online. Remember you have a unique gift to share with the world and your students are already looking for you!
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