How to Calculate your Monthly Membership Price:
- Estimate how many classes on average your clients will take with you per month. This is typically 4 to 6 classes per month.
- Determine the normal price of a "drop-in" one-time class. See this article for tips on pricing your classes.
- Example 1: Normal Price of Group Yoga Class = $15
- Example 2: Normal Price of Private Personal Training Session: $75
- Determine the discounted price of a class included in your package. Shoot for 20 to 30% off your normal class pricing.
- Example 1: Discounted Price of Group Yoga Class = $12 = 20% discount off $15
- Example 2: Discounted Price of Private Personal Training Session: $52.50 = 30% discount off $75
- Multiply the average number of classes by your discounted price. That's your price for your Monthly Membership!
- Example 1: 4 Group Classes x $12 per class = $48 per month
- Example 2: 6 Private Classes x $52.50 per class = $315 per month
PRO TIP: Qualify your clients through pricing
- If it's too low, they won't be able to continue with you at your normal pricing. Focus on bringing in clients who can afford your services.
- If it's too expensive, no one will buy it.
- Many studio owners will unknowingly sabotage their own businesses by underpricing or discounting individual classes. This behavior encourages drop-ins, rather than a commitment to your classes and business. Focus on monthly packages and your intro offers in all of your promotions.