What Is Your Time Worth?
To calculate the value of your time, the first step is to write down two numbers:
The Amount of Time You Spend to Earn Money:
The amount of time you spend to earn money is not just the hours when you are training clients. It’s the amount of time per month that you invest in your work, including the work for your clients. You’ll need to add the time invested that goes into your sessions, both before and after, such as:
- Travel time to and from the gym
- Research for the client
- Building Programs
- Educating yourself (attending seminars, reading, etc)
- Emails/phone calls with clients
- Creating custom videos for your clients
- Marketing your business
- Administrative time
You can estimate the time spent doing the above tasks, but it will be hard to get an accurate number.
The Amount of Money You Earn During That Time
Write down what you earn. Look at your past 3-5 monthly paychecks and average them.
How Much Is Your Time (Really) Worth?
Once you have the total number of hours you work in a month (using the data above) and your average from the past few monthly paychecks, simply perform this equation:
Total pay per month / Total hours worked = €/hr That your time is worth
Keep in mind–if this number seems really low, then you probably aren’t charging enough. How much do you think you deserve to be compensated for your work?
Trial & Error
Test the market out first. Begin offering your services with a pricing structure based on what you think you’re worth. Start high, and then if you are finding it hard to get new clients or keep current clients due to pricing, offer specials that reduce your pricing. It is easier to start high because once you set your prices at a lower cost, it is much more difficult to raise your rates. You all love being trainers and helping people, whether training clients online or in person, however, it’s important that you don’t lose sight of the fact that you are still running a business and should be adequately compensated for your hard work. If you do a good job, people will pay a premium for your services because they truly value what you do for their health and fitness.
What is the Competition Charging?
Although you should not base your business around what others are doing, you should still be aware of what others in the industry charge. Take a look at their offerings, their education level, and the overall look at how they have structured their pricing in order to be successful. This will help you leverage your services against the competition.
Ok, what now?
You have a number now, but not a pricing strategy. These are some options you can opt for (with your own twist of course!):
Online Training Only
Online-only plans reflect pricing samples for single online users, group online users, and a customized online training package.
- Online Only: Personalized Workout Program in the Harbiz App
- Group Online pass: General Workout Program in the Harbiz App
- Full Package: Initial Assessment via Meet (30 to 45 minutes) & Personalized Workout Program in the Harbiz App.
- Add-ons: Personalized Nutrition Program (Meal Plan or Macros) & Bi-weekly checkups.
You Train Clients Both In-Person And Online. Blended (hybrid) training plans reflect pricing samples for plans with a stronger focus on online training or plans focused more on in-person training.
- Mainly Online: Initial in-person Assessment (30 to 45 minutes), Personalized daily Workout Program in the Harbiz App & Monthly checkups.
- Mainly Offline: Initial in-person Assessment (30 to 45 minutes), Personalized daily Workout Program in the Harbiz App & 1/2 in-person checkups a week.
Get in touch with us to get more info on how to price your online training to best fit your business needs, and to discover the right Harbiz plan for you!