Pricing Your Private Yoga Sessions

Pricing Private Yoga Sessions can be tricky. What should you charge for your services? How do you determine your rates? How much are you worth?

 

Just a few weeks ago a brand new yoga teacher asked me those questions, and the answer is not as simple as you would hope, but possibly easier then you feared.

First of all I want to beg you: Please do not define your self worth by how much you can charge or by how much people will pay you.

I know you feel that your yoga business is your “baby”. But it’s really not. Your baby I mean. It may be a living entity but it’s not a living being. It doesn’t have feelings, won’t hold a grudge and most certainly doesn’t call you a bad person if you make mistakes.

Your yoga business is a business.  It’s role is to help you thrive, to put food on your table, pay your bills and allow for the wonderful things you want to do in the world, be that sponsor a child in Indonesia or buy a new car.

So, having set that straight, of course you need to do your very best to set your business up in a way that allows for maximum service, fulfillment and income (learn how in Yoga Business School).

One part of that is to decide what to charge for your services.

So let’s dig into it!

 

Pricing Private Yoga Sessions – And What You Should Know!

 

  1. Your Community Median Income

Many years ago, in my last corporate job before self employment, a sales trainer sent by management told our staff that we should hard-sell because the annual median income in Canada per household is $100,000!

Um, that may be true statistically, however, in the area I lived and worked in we were closer to $42,000 annually per household.

This trainers math didn’t ad up and I refused to buy into the sales techniques we were taught that were based on working with clients who had multiple and expendable incomes.

 

The point I’m trying to make is do your homework when deciding what to charge per session.

Many coaches dealing with money blocks tell us we should charge what we feel we should be worth. And again I say don’t define your self worth by your rates.

We are told to raise our rates and be proud of the high prices we set for our services.

But be realistic. If you live in a neighborhood that is made up of Hollywood mansions, sure, you can charge $160 and probably much more for a single private yoga session. And you should, because that’s expected in your market.

But rates like that won’t hold when you live in a part of your city that has average picket fence homes and a median income of $60,000 per year.

 

 

Which brings me to point 2:

2. How much do you want to work?

Do you prefer to work only two or three hours per week with affluent clients who can afford a higher rate or with clients who book a private session with you once a month or sporadically?

If that’s the case you may decide to charge prime rates for your services. And you will be happy! And that’s totally okay.

If you want to teach and help as many clients as possible and get juiced teaching yoga, consider lowering your rates and maybe selling multiple session packages or programs. Instead of charging $90/session you may decide to offer a 12 week program that has a specific theme. You then charge $65/session, but now you see your clients twice per week and you get paid in full up front or split the payment into three monthly instalments.

So instead of this client paying you $95 once a month or every other week, you now get paid $1560 in one payment or 3 monthly instalments of $520.

 

Why is this a great way to work?

 

For several reasons.

1. You are doing the client you truly want to work with a better service. We all know that one epic giant marathon yoga session every so often doesn’t do much.

By offering a lower rate but see your client several times a week your client will get much better results and will see the benefits of what yoga can do for them.

 

2. It gives you a sense of financial security since you have a commitment from your client to work with you for a set period of time, which means spending less money on client acquisition for you.

 

It costs more time and money to find and enrol new clients then to keep existing ones.

 

3. Lastly, you get paid in bigger chunks of money at a time which allows you to budget smarter, put some money aside for emergencies, or invest in much needed resources or equipment that will again benefit your clients.

This way of working may not be for everyone, but I want to encourage you to have an open mind. Yoga Business School teaches in depth how to build a yoga program for your perfect client and how to position your new service in the market.

 

After reading this you may decide that you truly only want to work only a few hours a week and teach single sessions at a premium price point.

If that’s the case I encourage you to do the research. Where can you offer your yoga, which market can carry your rates?

If your city is not high income, maybe consider traveling to a higher income area and teach at the clients home or rent studio space for your private sessions.

Offer a higher perceived value by specializing in a specific type of yoga or outcome. You might specialize in injury recovery or anything you are good at, that is wanted, and that the right person would pay premium prices for.

 

It’s always okay to adjust your rates up or down. If you find that your market can handle higher fees, meaning you have a full practice and your clients are more then happy paying for your services, raise your rates. You will see by your current clients reaction if your target makes can handle it.

I usually suggest a 10% rate increase at a time. Personally I raised my rates once per year until I levelled out at a rate I felt comfortable with and my clients did as well.

Interestingly My observation was that after every increase in my program rates I had an initial “surge” of new clients. Usually unexpected and always welcome!

 

So in closing I want to wrap it up with this:

  1. Know your local market
  2. Know who you want to teach
  3. Decide how much you want to teach per week or month
  4. Adjust your services and rates according to the first three

 

I hope this article helped you figure what a good rate is for your private yoga sessions. Please post any comments or questions below or feel free to email me at claudia(@)thethrivingyogi.com.

 

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2016-10-12T12:31:06+00:00