How much is your time worth?
To calculate the value of your time and to be able to set your prices if you have a fitness or wellness business, it's important to consider:
The amount of time you spend making money
The amount of time you spend making money isn't just the hours you're training clients. It's the amount of time per month that you invest in your work, including working for your clients. You will have to add up the time spent in your sessions, both before and after, such as:
- Travel time to and from the gym
- Research for the customer
- Creating programs
- Personal training (attending seminars, reading, etc.)
- Emails/phone calls with customers
- Create personalized videos for your customers
- Marketing your business
- Administrative time
You can estimate the time spent on previous tasks, but it will be difficult to get an exact number.
The amount of money you earn during that time
Write what you earn. Look at your last 3-5 monthly payrolls and make an average.
How much is your time (really) worth?
Once you have the total number of hours you work per month (using the data above) and the average of the last monthly payroll, simply use this formula: Total pay per month/total hours worked = €/hour that your time is worth. Keep in mind that if this figure seems too low to you, you are probably not charging enough. How much do you think you deserve to charge for your work?
Trial and error
First test the market. Start offering your services with a pricing structure based on what you think you're worth. Start with a high price and, if you find it difficult to get new customers or keep current ones due to pricing, offer special offers that lower your prices. It's easier to start at the top because once you set your prices at a lower cost, it's much harder to raise them. We all love being coaches and helping people, whether it's training clients online or in person, however, it's important that you don't lose sight of the fact that you're still running a business and should receive adequate compensation for your hard work. If you do a good job, people will pay more for your services because they truly value what you do for their health and fitness.
How much does the competition charge?
While you shouldn't base your business on what others do, you should be aware of what your competition charges. Take a look at their offerings, their level of education, and the general look at how they've structured their pricing in order to be successful.
And now what?
Now you have a number, but not a pricing strategy. Here are some options you can choose from (with your own touch, of course!) :
Online training only
The online-only plans reflect price samples for individual online users, group online users, and a customized online training package.
- Online only: Personalized training program in the Harbiz App.
- Online pass for groups: General training program on the Harbiz App.
- Full Package: Initial Assessment via Meet (30 to 45 minutes) & Program Personalized Training on the Harbiz App.
- Supplements: Personalized Nutrition Program (Meal Plan or Macros) & Biweekly Check-ups.
Combined training
You train your clients both in person and online. Combined (hybrid) training plans reflect price samples for plans with a greater focus on online training or plans more focused on face-to-face training.
- Primarily online: Initial in-person evaluation (30 to 45 minutes), Personalized daily training program in the Harbiz app and Monthly Reviews.
- Mostly Offline: Initial face-to-face evaluation (30 to 45 minutes), Personalized daily training program in the app Harbiz and 1/2 in-person control per week.
Contact us for more information on how to price your online workouts to better fit the needs of your business and discover the plan for Harbiz more suitable for you.
