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I keep seeing too many exercise enthusiasts who think they are in business but don't stick to any kind of business plan. Sounds like a criticism but stay with me here….let’s call it an observation!
If you are in business you need to be charging based on the fact that you have expenses to cover and a profit to make. Boiled down it's as simple as that.
But if it's a hobby you run and the household doesn't rely on the income you bring in at any level then is quite possible you run a hobby. So does that mean you charge like it's a hobby.
If you run a business, you will:
The issue with the first option is that those practitioners are providing a similar service to those who are registered and fully in business but the general public do not necessarily see the difference between these two type of health and fitness practitioner.
The hobbyist is not worried about the level at which they charge because it is not in their best interest or on their radar to do so. When a member of the public contacts them do a ‘side by side’ comparison they may decide on price alone.
The position this puts the health professional who charges what they are worth, to run a sustainable business is compromised – as it’s not apples with apples.
They will always appear to be more expensive and unaffordable next to the hobbyist.
How do we stand out then?
There are many other key elements that you can work on in your business to create and professional look and feel to enhance public perception of what you do.
Above all act and look like you are in business. Check your values reflect this and live to them everyday!
If you are in business you need to be charging based on the fact that you have expenses to cover and a profit to make. Boiled down it's as simple as that.
But if it's a hobby you run and the household doesn't rely on the income you bring in at any level then is quite possible you run a hobby. So does that mean you charge like it's a hobby.
- Anyone's welcome
- I am flexible on price
- Not fussed whether there are 2 or 3 of you in a small group - same price!
- Happy to do take your money even is that’s not based on any business planning
- You’ll rely on picking up clients as and when they come along
If you run a business, you will:
- Have a weekly break even point – that point at which you have covered your costs and each dollar after that is profit
- A structured pricing plan for casual clients (if that’s your thing) and clients that are prepared to make a commitment to you for the medium to long term – call them package clients
- You’ll have branding and marketing activities that create awareness of your business as well as strong relationships with key allied health pro’s
The issue with the first option is that those practitioners are providing a similar service to those who are registered and fully in business but the general public do not necessarily see the difference between these two type of health and fitness practitioner.
The hobbyist is not worried about the level at which they charge because it is not in their best interest or on their radar to do so. When a member of the public contacts them do a ‘side by side’ comparison they may decide on price alone.
The position this puts the health professional who charges what they are worth, to run a sustainable business is compromised – as it’s not apples with apples.
They will always appear to be more expensive and unaffordable next to the hobbyist.
How do we stand out then?
- First, lets ensure we are all registered professionals – this must be something we tell all prospects so that if they are shopping around, they may well ask the same questions of others. This could be the first point at which the differences start to show.
- Explain how long you have been in business and that you help clients in the following areas: [provide a couple of examples]
- Explain that you spend a decent amount of your income on reinvesting in yourself in education So that your knowledge is up-to-date and cutting edge in line with current research
- Also explain that you have a casual rate and you have a package rate, this is going to give you credibility and help the customer decide what's going to suit them best.
There are many other key elements that you can work on in your business to create and professional look and feel to enhance public perception of what you do.
Above all act and look like you are in business. Check your values reflect this and live to them everyday!
