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Home > TwoBrainRadio > Episode 57: How To Set Your Rates
Podcast: TwoBrainRadio
Episode:

Episode 57: How To Set Your Rates
Category: Health
Duration: 00:45:01
Publish Date: 2016-12-21 02:00:00
Description: 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 Plus: • 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 Timeline: 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 10:12 – Extrapolating your net goal to a gross goal 11:22 – Client payment spectrum 13:31 – What are your diverse revenue streams? 15:15 – What are the top services and other revenue streams? 17:54 – What is your premium service? 19:49 – The math behind raising costs 26:13 – Using the Two Brain Business template 27:14 – Explaining rate increase to clients 28:57 – Pulling the trigger on a rate increase 30:43 – How to apply the Two Brain methods to your business 34:16 – Question and answer time
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