What You NEED To Charge As An Online Trainer And Why
Hey there. Chris Lynton here, and in today's video, I wanted to talk to you about specifically what you should be charging as an online trainer today, what is, I guess, a base level rate that you should be charging, and I also want to explain not only what you should be charging, but why you need to be charging this. Otherwise, you're going to fail. First and foremost, I'm going to go through why you need to charge this. Otherwise, you're going to fail, and then I'm going to take you through to the actual specific.
Now, first and foremost, as I mentioned, if you're not charging the right rates as an online trainer, you are going to be capped. For you to earn a good amount, an amount that's going to work for you for your family, for your business, whatever, for the time and energy that you're putting in, there are people out there who I speak to and say, "Chris, I've got a $15 or a $5 e-book, and I'm trying to build my online fitness business. Last month, I made $15 a month. Before that, I made $25. How can I get to $5,000, $10,000 a month because I really need this to have a financial level that suits my needs for my costs, and my living costs, and where I want to go with myself?"
Unfortunately, the sobering truth or the answer that they don't want to hear that I give time and time again is it's never going to happen with selling $5, $10, $20, $50, $99 products, or e-books, or services. It is never going to happen, and the easy explanation of that is that if you are selling, say for example, a $10 product, or a $10 e-book, or whatever it might be and you want to make $10,000 a month, you need to sell 1,000 products per month every single month to hit your goal.
Now, let me give you the opposite end of the spectrum. If you've got a trainer who's selling $1,000 programmes or packages per client, that person only needs 10 clients per month each month to make the exact same amount. You got one on one end of the spectrum who needs a thousand clients every single month, 12 months a year. On the other end of the spectrum, you've got a person who only needs 10 clients per month each month, 12 months of the year to earn the exact same amount.
If you look at those aspects, it is much more difficult to convert a huge number of people than a smaller number of people. If you think about it right now, you're probably, depending on where you are in your business, whether you haven't started yet, whether you've done it for a little while, whatever it might be. If I was to ask you, can you think of two people today that you might be able to turn into online clients?
I'm sure majority of you will be able to think of two if not more people right today who you could call and you could start to have a conversation with them about becoming an online client of yours, but if I ask you to think of a thousand people, I'm very, very sure 99.9%, almost 100% if not 100% of you will be thinking, "There is absolutely no way I could ever do that. I don't even have a thousand people on my phone or I don't even have a thousand friends in my social media." Whatever it might be.
Literally, that is about as simple as it becomes. You need to have a huge brand, a huge following, and not to say it doesn't work. We've worked with businesses, with Emily Skye who's one of the top if not ... in the top two if not the top 10 fitness influencers in the world, and she's phenomenally successful. She's in Forbes Magazine recently with a personal wealth of multi, multi-millions, and she's been able to do it selling lower-priced e-books and so on and so forth, but she has something like 10 million Instagram followers. She has 10 million people that she can speak to day in and day out to try and buy her low-priced programmes. Unfortunately, for those people who don't have 10 million followers, you need to start at this end of the spectrum. Otherwise, you're only going to make two sales, three sales a month.
Now, if you think about it, what would you prefer to be doing, making two or three $10 sales a month, or two or three $1,000 sales a month? There is a huge difference between the two, but it's the exact same number of clients. First and foremost, that is the key point to why prices are very, very important. They're going to fast-track you to the goal that you need to get to without needing hundreds and hundreds of clients.
Secondly, it's more of a revenue-income impact. Secondly, imagine if I said to you tomorrow, "Hey, I can get you a thousand clients tomorrow." Imagine I did that to you. Would you have the capacity to service a thousand people tomorrow? Most probably not. Most probably, people would not be able to take on that sort of growth that fast. The systems wouldn't be set up correctly, the servicing wouldn't be set up correctly, and they would have to literally stay up 24 hours a day, 7 days a week just to try and hold on to the business without it collapsing.
Whereas if I was to say to you ... Let's just say you took one client this week, two clients next week, another client the week after. Quite comfortably, with those smaller numbers, you're going to very comfortably and very time-efficiently be able to service those people, get them a great result, give them a great service, get them the results they deserve, make them love you for it, want to stick around long-term and continue to pay you, and also, give you referrals, recommendations, and testimonials as well.
If you think about the two ends of the spectrum, charging high prices is better for you. From an income perspective, it's better for you because you won't be tearing your hair out and having to work 24 hours a day just to keep up with the amount of clients you have, but thirdly, it's better for the clients as well because you can give them a more customised service. You can give them a better service than what they've ever had. You can get them a better result, which at the end of the day is what we're all in this business for, helping people transforming lives, and at the same time, having the financial and time freedom, and growth, personal and business growth that you demand, and want, and need in your life right now.
Hopefully, that makes sense, why you need to charge these prices. If you don't charge these prices, you'll either not be able to get enough clients or you will cap up because you'll get too many clients, and you still be not earning much, and you won't be able to take on anymore. That is a critical component.
Now, moving on to the second part of that, and I touched on this a second ago. What prices should you be charging as an online trainer? Now, when I talk about $1,000 packages, a lot of people say, they're going to go, "How the hell can an online trainer charge something like that?" If you think about it this way, think about yourself right now. Maybe you live in an affluent area. Maybe you don't live in an affluent area, but if you think about a trainer in an affluent area right now, majority of them are probably charging somewhere between $50 to $100 for an hour session, and what are they probably recommending to their clients? They're probably recommending that they need to see them two or three times a week to get results.
On the upper end, if a client is paying $100 an hour and they're seeing their trainer three times a week, that's $300 a week they're spending to see the trainer for three hours, to get trained for three one-hour blocks. $300 a week, $1,200 a month. Now, imagine if that exact same trainer was able to give the person a programme, support, nutrition, health, whatever it might be, and allow them to reach out for accountability and motivation any given time of the day, and they had a programme to follow, so they weren't just training three times a week. Whatever it might be.
A, they'll get better results. They'll be more compliant, but imagine if that exact same person, rather than charging $300 a week for those three sessions, was able to charge between $50 to $100 a week. It's almost a third or less the price, and in essence, they're getting more value because they get that person's information and they're able to implement that rather than just the person's time.
Now, if you put them together in 12-week packages and you sell them in 12-week packages, if you're charging $100 a week, 12 weeks, that's $1,200 for the package per client.
Now, as you can see, for the client, it's better. They don't need to travel. They don't need to fit around your schedule. You don't need to fit around their schedule. They can train whenever they way. They get accountability, motivation. They get more information. They can go to any gym they want. They can travel and still train. They can do it ... If something comes up and they can't make the normal time, they can still do what they need to do, but at the same time, it is going to ... almost a third if not five times cheaper than seeing the trainer face-to-face.
As you can see, they're already spending that money, so they're already happy to spend that money, but you're able to deliver a better service for much cheaper, which is why online trainers, online coaches are in such demand and growing so rapidly, and why so many clients are moving from face-to-face trainers to online experts all around the world.
Now, you might have picked up on a point I talked about a second ago by giving examples of a trainer, face-to-face trainer living in an affluent area, and you're probably thinking, "Well, Chris, what about me if I live in a non-affluent area and I'm only charging people $20, $30, $40, $50 per hour session?" Well, the good news around online is you can work with clients all around the world. You're not stuck only picking clients from your actual location. If you live in a not-so-affluent area, you can get clients from all around the world from affluent areas who are already paying high prices to people, face-to-face trainers in those affluent areas. You're not only forced or are restricted to working with people that have limited financial resources.
As a result, you could increase your prices, charge what you're worth. Ask yourself this. Are you any less of a trainer than someone who's charging much higher prices? You may be just as good as that trainer. You might be even a better trainer, but as a result because ... If you live in a non-affluent area, you can't charge the right prices.
You can have someone who's a great trainer here charging $50 an hour and you can have someone who's a shitty trainer here in just a really rich area charging $100 an hour, and as you can see, that's not really fair, but unfortunately, in a face-to-face business, that is just what it is, but once you move online, you have that capacity to reach outside areas not only limited to those that live around you, and as a result, you can start to tap into those highly profitable pockets of the globe.
Hopefully, that makes sense. Hopefully, it allowed you to calculate and realise the value not only for yourself of going online, but also, the value of the client. The value added they're going to get and the reason why online is growing so rapidly and a lot of people are moving towards finding experts online. That's it for me. Bye for now.