In this episode, we discuss the best practices around creating an effective pricing strategy for your personal training business.

We talk about whether you should do per session pricing or EFT.

We, at Alloy, have done both. When we opened in 1992, we sold packages of sessions.

The cashflow is much easier to manage when you're charging people by the month. And getting into the monthly payment mode landed us into EFT.

In EFT model, you simply go to the customer, you have one transactional conversation, then you move their relationship immediately to relational and personal. And that's where it should stay forever. 

And for lack of better terms, the money just sort of goes away and you never have to think about it again. That's the best relational way to set up personal training as well. And there's never that awkwardness of asking for that sale over and over. 

Stay tuned to know more.

Key Points of Discussion:

• Downsides of the per session pricing model (2:33)
• Cashflow is easier to manage when you’re charging people by the month (4:19)
• Pain point of going back to that client saying: “Hey, your 10 pack is up…” (5:48)
• In EFT, after one transactional conversation, it’s relational, and personal (6:16)
• When we switched to EFT, frequency of the usage went up (7:42)
• Moving from one-on-one into small group training… (10:14)
• Keep it really simple (17:18)
• At the sales process, definitely use unit pricing. Every retailer does that (18:02)
• Monthly versus annual memberships (19:41)
• Three buckets of people… (22:41)
• Sit down and review those notions at times, and challenge yourself… (25:52)

---------

Additional Resources:

• The book "Switch" by Chip and Dan Heath on Amazon
• Learn About The Alloy Franchise Opportunity

---------

You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.

If you haven’t already, please rate and review the podcast on Apple Podcasts!