Episode 57 – How to Set Your Rates
Today’s episode is a re run from a recent webinar entitled “How to Set Your Rates”. In this episode we talk about raising rates at your gym and the tactics and repercussions that go along with this action. I also lay out a plan for how to make this happen and perform a question and answer session.
In this Interview:
• Calculate the income you need for your perfect day
• The top services and other revenue streams you need
• The math behind raising costs
• My story of starting my first gym
• Why discounts should be eliminated!
• How to calculate gross income and profit margin
• Question and answers from gym owners
0:17 – How to set rates introduction
2:06 – Poll of who is joining the webinar
2:49 – Why should you eliminate discounts
4:15 – My story of starting a gym
6:36 – Hiring a business consultant
7:10 – What is your perfect day?
8:25 – How much income do you need?
9:17 – How to calculate gross income and profit margin