Have you experienced the “oh geez” feeling after being told by a potential client that your rates are too low? It happened to me a couple of weeks ago. I pride myself on pricing my services based on the confidence I have in my value, and I coach my career clients to do the same. Imagine my surprise when I quoted a corporate virtual Chair Yoga at $500 and my client replied “wow, that’s cheap!”.
My first reaction after getting off the phone was happy that I landed the gig, then “wait…what??. After some reflection I came to three realizations that I’m happy to share with you.
We significantly undervalue our expertise:
I quoted a wellness workshop on managing stress and anxiety for that same client at $1200 but because teaching Yoga is something I see as “easy-peasy” I asked for $500. No wonder she found it cheap in comparison to the workshop. My lesson: just because it’s less effortful for me to prepare and perform in a fitness or Yoga class doesn’t mean it’s worth less; to the contrary it means I can provide a service with expertise that’s hard to come by.
ASK YOURSELF: are your rates fairly based on the market and your capabilities and ability to confidently communicate your value?
We need to look into a variety of sources of revenue:
As a fitness professional I do and will continue to provide classes and coaching and training to gyms and studios… AND I’ll also develop my business outside of traditional fitness settings. As qualifies fitness professionals we have opportunities in many other sectors including: corporate wellness, health care, travel and health resorts, high performance centers, and more. In some instances, the revenue for our services can be significantly higher, thereby providing fitness leaders with a variety of income streams and experiences.
ASK YOURSELF: are you staying curious about and seeking out new ways and places to deliver your phenomenal expertise in order to build revenue that leads to a sustainable career?
We need to position ourselves in the wellness sphere:
There is work available in making fit people fitter, but engaging with the $4.4 trillion dollar wellness market is the key to our longevity. Positioning our services beyond calorie burning and weight loss means turning our attention to performance within the scope of lifespan and healthspan, of physical and mental health, and or moving for a better life.
ASK YOURSELF: are you learning about how movement stimulates and support not only physical health, but also social, mental, and cognitive health? Are you inquiring about the changing needs and goals of your clients along with keeping an eye on trends related to health and wellness?
The public health unit that hired me to teach that class has staff that are deaf; it was my first Zoom experience teaching side by side with an ASL interpreter. It was a phenomenal experience and I’m so proud to have been able to share mindful and accessible movement with a whole new group of incredible people!
Nathalie Lacombe, M, Sc. Is the coach and cupid of the fitness industry! She blends her 25 years of international fitness experience with her degrees in psychology and exercise science to coach fitness professionals and leaders towards incredible success in their careers and businesses.