Increase Your Price & Charge More

Okay, today's session is going to be about increasing your pricing. I'm going to go through some structures or some rules, I suppose, with how to do this in the most efficient way possible. I did do a training on this a fair while ago, but it has come up a few times in conversation. I thought it'd be good to kind of give you guys the updated goss with how to increase your pricing, but then also why people kind of get stuck with not increasing their pricing as well. So I'm going to share my screen in just a second, but while I'm doing that, if you guys want to pop in the chat, give me a 1 in the chat if you guys are ready to rock and roll, and we will get stuck in. Owen, good morning, mate. Great to see you. All right, got everyone here, got the chat on fire. Ready to rock. All right, let's do it. Sorry, I'm actually trying, uh, PowerPoint today, so I'm gonna see how this slideshow goes. Everyone see my screen? Someone give us a thumbs up. Yep, cool. Okay, so we're gonna go through how you can charge more but obviously keep your clients, but I'm also going to show you guys some maths in terms of even if you were to lose some clients on the new rate, you're still better off in the long run. So we're gonna go through 6 different things today. Let's move that out of the way so I can see properly. So we're gonna go through why trainers generally undercharge, if you're ready for a price increase, which I think is gonna be the biggest valuable thing for you guys today, is if you are ready for one, what to actually charge, the math that kills the fear, what to say to your clients,, and if there is a bit of pushback on a price increase, what to actually say, uh, to them. So that's what we're going to go through, um, today. So I want to know in the chat who thinks they undercharge for their services. I want to get a bit of an idea here who thinks they undercharge. And if you don't, that's, that's okay. Just say yes or no if you feel like you do undercharge. Yeah, Owen. Anyone else? A little bit. It's, um, yeah, most people are kind of like a little bit. Okay, cool. The reason why people, um, tend to not increase their price is a number of reasons, but a few of the ones that tend to come up a lot is they don't want to get more objections on price. They're scared of the rejection that they're going to get, but also they don't have the confidence in what they're selling. So there's a couple things, uh, so we're going to go through that a little bit today. So generally what happens is, especially when you first start in the industry, your confidence is obviously quite low. So you don't necessarily— you just obviously want some clients, right? You just you just take on everyone no matter how bad they are, no matter how difficult they are. You just take on everyone at the start because obviously you need to obviously make the income. Um, so I'm going to go through like when is a good time to increase your pricing, but at the start it's not a good time to increase your price because you just want to get some experience. You just want to feel, feel like you've got the right thing for everyone essentially. And when you, when you can start to you know, get a little bit more established, you get a little bit more confident. And when you get a little bit more confident, you can be a little bit more picky with who you guys work with as well. Um, so a lot of people tend to not get out of this little trap where they just take on anyone and everyone. Has everyone been in that mindset before? I know I certainly have, where I'm just like, yeah, yeah, I'll do that, no worries. Yeah, you're a powerlifter, no worries. You're a bodybuilder, yeah, no worries, come on in, I'll, I'll coach you as well, even though I've got no experience with that. No worries, I'll make this stuff up. Um, but yeah, we get kind of caught in this trap of just kind of taking on everyone. So, um, yeah, I just wanted to make that kind of clear, that it's, it's okay at the start to be like that, but definitely long term, and when you get, um, and when you, when you kind of get longer and longer in business, you do tend to want to work with specific types of people, which then means you can charge more because you become a specialist at that demographic or that niche. Does that make sense so far, team? Just give us a yes in the chat if that makes sense. Cool, cool, cool, cool. All right, let's keep going. But a lot of it obviously comes down to confidence. So when you start to sell people on a certain price, you're going to get confidence that you can obviously sell, right? And that your price is worth it. So when, when, when you want to, or when, when people don't increase their price, they don't want to get that, that rejection that they had at the start, which keeps people stuck working with people that are, you know, average people because they're not paying premium prices. Okay, let's keep going. So let's go through, I've kind of done like a little bit of a checklist here to know if it's a good time for you to increase your price. So there's 4 things that I came up with. Which if you've got majority of these, then it's generally a good time to increase your price. And by the way, you can keep increasing your price as many times as you, as you like, and as you should. Did everyone see the inflation numbers that came through? The inflation rate over the last 12 months? Did anyone see that? Or does anyone want to have a guess on what the inflation rate is? If you're not sure, give me a guess. I'll give you a hint, it's under 5%. 4.2. Is that, is that a guess, Perry, or is that what you actually know? Because I thought it was 3.8. Maybe I've got the wrong information. Anyway, it's roughly around 4%. So guess what that means? If you guys have not increased your price by 4%, in the last 12 months, your income has gone backwards. Let me say that again. If you have not increased your price in the last 12 months by 4%, your income has gone backwards. Does everyone understand why that is? It's because everything that you buy is now 4% more expensive. That makes sense to everyone? So if you don't increase your price, you're literally going backwards. Every year. So if you keep making $50K a year for the next 5 years and you don't increase your price, you're literally like losing money. Cool. So basically what I'm trying to say is you need to increase your price. Now, who has seen my training where I go through how you can increase your price every year without having to have the conversation with the clients? Who's seen that training? I see a nod from Liam. Everyone else, let us know in the chat. Okay, if you haven't seen the training, uh, I'll actually— I'll quickly cover it now, actually. So everyone's got terms and conditions, right? So in your terms and conditions, all you're going to add— you're just going to add a clause in there that says every year on the 1st of July, there will be a 4% increase on PT services. And when they sign that, nobody thinks about it in 12 months' time that the price is going to go up by 4%. And by the way, 4% is not a lot of money. So 4% of, uh, let's do some That's the $200 a week. 4% is $8. $8 a week if they're paying $200 a week. It's been $100 a week, it's $4. Pretty simple, right? So each year you automatically just increase their payments, but you obviously have to tell them about it when they first join. You say, hey, look, each year, um, we do have an increase of 4% to align with inflation. I'll show you at the end of this call today where that training is or where that template is, because it is in school. I did it quite a while ago, but all you simply have to do is add like literally like a one, one line in your terms and conditions. And obviously make sure you tell the, tell the clients this when they first join. Um, hey, just to, um, align with inflation, we increase our price each year by 4%. So it happens just on the 1st of July. So if, if they literally signed up tomorrow on the 1st of August, you tell them that, and then on the 1st of July next year there's a 4% increase. So no one cares about it because it's like, oh yeah, cool, it's 11 months away. I guess then literally no one cares. Okay, and in the entire 6 years that I've been running my business, I've had 2 people query it, but when I told them, they're like, oh yeah, cool, makes sense. And the reason being is because most people in a job, they get a pay rise each year. Okay, so it's nothing new. It's just for some reason when you have a small business, everyone freaks out when they increase their price. It's completely normal. So remind someone, remind me at the end to show you where that training is. But just going back to the checklist here. You ideally want to be closing at around 70% or more. That generally means that your price is fair or on the lower end. Wannarob as well. So if you're closing above 70%, generally that means there's a bit of room to move on the price point because you actually want objections. You want to get the price objection because you want people to stretch their budget to be able to afford you, or you want to kind of eliminate the brokies, the people who are going to be a pain in the ass. Um, they're going to have like payments bounce each week. You want to try and eliminate those type of people. As I said, if you go— if you're not getting any price objections, that people are just kind of like buying, or the objection is like time or, or partner or whatever, if there's no price objections, that's a pretty good indication that your price could go up. The next one is you've got a financial buffer. So as in, if you're not living week to week, if you have a few people drop off, then you're not going to be in like a desperate mindset to sell. I was having a conversation with someone in Sydney and they were having some issues with selling, and we actually reviewed some consults. And the reason why they're having some issues is because they're in such a desperate mindset to sign clients, they're coming across as like super salesy and super desperate., and people just, they don't vibe with that, and they're just not going to buy it just because, like, doesn't necessarily mean they don't want the service, but they don't want it from you because you are being desperate. Okay, and the last one is you're nearing capacity, so you're pretty much full or near on full. You increase your price to protect your time. So we've done that with a few people on this call, so pretty much— and this is like a continuous thing, like as you get full again, or as maybe if you have a trainer, as they get close to being full, increase the price again. Okay, it's just supply and demand. Okay, I'm going to go through a little bit on this part in terms of what to actually charge. Everyone's got individual prices here, so I'm not going to tell you guys, you know, you should charge XYZ because You guys all have different markets, different niches, different areas, so it'll be a little bit different for everyone. But I'm just going to do some like general rules of thumb to help with the pricing and obviously what to include in the pricing as well. So number one thing, I spoke about this in Sydney, you sell the— oops— you sell the outcome, not the sessions. You don't sell the amount of time that is required to do it. You sell the outcome. So for example, if you're, if you're going to promote weight loss, maybe you sell, uh, a 10kg weight loss journey. You don't say, hey, I'm, I'm going to train you for 60 minutes every week to achieve this outcome. It's, hey, I'm going to, I'm going to, um, help you lose 10kg, and there's a few different ways that we can deliver that service, but we're going to get you that result. Okay, you stuck the tangible deliverables. So everyone would have seen our tangible product that we do where we do like a value stack. So this is what I'm talking about here, which is what do they actually get? So can you actually list out what they get? So the program, if, if they get, uh, app access, is, is nutrition included, is check-ins done, do they get extra resources? Even from a lot, a lot of the, um The training that we did in Sydney for Claude, a lot of you guys have implemented Claude to build like some ebooks and recipe books, for example. You can give them straight to your clients. So build out that value stack so it becomes even more of a no-brainer for them to buy. That's how people can charge like, um, you know, one of my good friends charges $5K for an online coaching program. $5K. And guess how much revenue they do? I talk about these guys quite a bit. They do $2 million a year. $2 million. They charge $5K for an online program. Now, they didn't obviously start like that, of course, but I'm just giving, giving this for feedback. Prime example for me, you guys would have seen a lot of my stuff with my other business now about like AI implementation and stuff.. If people want to work with me for me to do it for them, it's $50,000 for them to work with me. Okay, that is just because of the supply and demand, because I'm pretty much already full. I can really only take on one person. I'll find someone to pay me $50 grand for sure, but it's supply and demand. Okay, next one is increase certainty. So you can offer guarantees, done with you accountability, obviously testimonials to make it more believable for them. Guarantees is a massive one. Um, I haven't done training on this in a little while, but actually I'll see if I can find it, um, once I go through this, this content. But, um, we used to offer, um, guarantees, uh, like on weight loss or increase in strength, and we used to have a checklist that people needed to complete to qualify for the guarantee. So when someone's on the fence of signing up, a lot of the time it's not so much the price or their partner or whatever, it's they don't— they might not necessarily think that it's possible for them to achieve the end result. So if you offer a guarantee, then it's like, okay, cool, well, if I'm going to guarantee you to lose 10 kilos, you know, what else is the issue for me, you know, getting started? So there's another way to help with increasing price is you can have a guarantee associated with it. Cut their time and effort away as well to make it a no-brainer. So the more done for them, the faster the win, the higher the value. So prime example, if you do more, uh, you know, 2 or 3 sessions a week rather than just online only, it's less, uh, effort for them because they're trained by you. As in, they don't have to have the motivation to lift the extra weight. They don't have to put the weights on, unrack the weights, etc. So it's, it's less effort for them to get that result. But the overall point here is the actual value should be 10x of what you're actually charging. So if you, if you want people— if you're selling 10 kilo weight loss and it's $1,200 for 12 weeks, as an example, it needs to be worth like $10K to them. Keywords to them, to them needs to be worth $10K. Uh, general, um, stats also suggest, um, the average person is willing to spend $100 a week on PT. Um, so you guys need to have a pricing option around about $100 a week that isn't online. Also, side note, this is just my opinion. I feel like there's going to be a really big push for face-to-face trainers again. Does everyone notice, like, in the last, like, probably 5 years, once COVID happened, a lot of people want to be, like, online trainers? Everyone notice that? I personally feel like it's going to go back to everyone wants to be face-to-face because No offense to you guys here or to anyone in the online space, but people can get meal plans, um, etc. Hey, John! People get meal plans, tailored program, if they know how to prompt AI. Yeah, I think a lot of you guys here also use AI, so there's nothing stopping clients or prospects doing the same thing. Okay, so like people that do online coaching, they just did this generic programs and nutrition. They're just— you're competing against AI, you're competing against the $50 a month subscription. So for those that are face-to-face, uh, I think it's going to be a pretty good time for you guys in the next couple years, um, if I'm honest, because people are people want the connection. Um, like, they want the— yeah, they want like the human, human connection. So I feel like there's going to be a pretty good time for face-to-face trainers. So let's do some, some maths. Um, yeah, Mel, 100%. Online obviously can't check their form and technique. Um, so yeah, especially like beginners, I think, uh, I think there'll be like a rise in people doing like face-to-face PT. So yeah, if anyone wants to obviously have a really good business face-to-face, really good time to obviously increase your pricing as time goes on. But also if you want to hire, hire a team, hire trainers, etc., I think it's going to be a really good time for you guys. Um, okay, so let's go through the maths because not many people actually realize how big a difference a price increase can actually make to your bottom line. So I'm just going to make some assumptions here. I'm going to assume we've got 20 clients and on average they're paying $100 a week, so you're making $2,000 a week. If you were to increase all your clients' prices by 10%, so the new rate would be $110, the break-even, uh, which means you basically— what I'm trying to say here is you would only need to retain 90% of your clients if you had a new rate of $110 to make the same amount of money. Does that make sense? Did I explain that right? So if you want to make the same amount of money, which is $2K a week, and if you increase your price by 10%, you could afford to actually lose 2 people and you're making exactly the same amount of money. Makes sense to Rob. Everyone else, make sense? So make sure no one loses me there. If you were to keep those 2 clients, which I'm going to show you how to keep those clients, your income, you would make an extra $10,500 a year. What would you guys do with an extra $10,000? In the chat, what would you guys do with an extra $10,000? Take your daughter on a holiday, buy half a new road bike. Very nice. I was gonna say, why only half? We booked a holiday this week where, uh, we booked a trip to Vanuatu. So, uh, we got— we're going in March next year. So, love Vanuatu, great place, very good for kids. Terry, we're actually not even flying business. It's only a 2.5-hour flight, so we're actually not even flying business. But anyway, we always find business long haul. Anyway, side note. Let's go through the other stats. So if you were to increase by 15%, um, be $115,000, which means you can afford to lose up to 3 clients, you'd make an extra $15,000 a year. 20%, you make an extra $20K. So moral of the story here is you guys can just work this out yourself, and I actually might get you guys to do this. Most of you guys would have an average client spend of about $100 a week. So can you guys work out you guys should know how many clients you've got roughly. How much extra income you would make with how many clients you've got? So for example, if you increase your price by 10% on this example, would— if it's $100 a week, you make an extra $10K. How much would you guys make if you had 10 clients? Let me just work this out for you. 10 clients, so you basically make an extra $500 a week. Oops, that's not right, sorry. Yeah, you basically make an extra $5K a year even if you had 10 clients. So does anyone remember what stage of business you guys ideally need to get to before you register for GST? Does anyone remember that? Talked about it last month. So what stage of business, how much do you need to be making? 75K, correct. So at a bare minimum, it is like a government responsibility once you make 75K per year you need to register for GST, which means you need to— you have to increase your price by 10% at a bare minimum, otherwise you lose 10% of your income. The government just takes 10% for whatever reason. Okay, so at a bare minimum, when you start to make over $75K per year, you at minimum need to charge an extra 10%. So if you charge an extra 10%, you're only at breakeven. Okay, so you might wanna consider doing a little bit higher. Okay, let's keep going. What to say to existing clients. So I'm gonna give you guys the exact email on the next slide, but there is 3 stages you need to go through when increasing your client's pricing. You always wanna give them a heads up in person during their sessions, not just send a random email to say that you're going to increase their price. Okay, so the easiest way to increase your price, in all honesty, and this works for me, is blaming it on someone else. And the easiest person to blame is your accountant. So it is basically like a celebration. You say, hey, look, we're in a really good spot, um, with our business, we're doing really well, we're getting clients really good results. Um, I've had a chat with my accountant and he's advised me to make a couple of changes to our pricing. Um, so just a heads up, you will be getting an email over the next coming days or coming week about our new pricing structure. I just wanted to give you a heads up, we are just finalizing it over the next couple of days. Um, but I just wanted to give you a heads up. Okay, so this, this softens the blow. To a degree. So you're just letting them know in person so you can talk to them, so they don't interpret it a different way. So, hey, look, the business is going really well. As a result, we are having to restructure our pricing to be able to keep up with all the expenses that comes with running a proper PT business. Okay, then what you're going to do, you're going to— you're just going to leave it like that. You're not going to tell them— I mean, you can tell them what it's going to go to if you like, Otherwise, you just say, we're just finalizing it over the next couple of days, um, I'll let you know, um, via email, and then we can, we can talk about it in person if need to as well. Uh, essentially all you're going to say is basically after, after a review or a conversation with your accountant and the rising cost of managing this many clients, uh, and the subscriptions involved, uh, we need to adjust the pricing to keep the same level of service, essentially. So from XYZ date, and would usually give them a 4-week notice period, your rate will change to blah, or your price will increase by XYZ percentage. So nothing about the training changes, same session, same programming, etc. And then you just thank them for the support and understanding, and if they have any questions, they can, they can let you know. Um, so when I did this myself, when I increased my client's pricing by, uh, I think it was $10 a week, um, for my clients, I at the time had 160 clients. So 160 clients got this message. How many of them do you think had an issue with the price increase? In the chat, let us know. 2, 3, 2, and 1. 1 person out of 160. So I'm going to go through a couple of options for you guys if people do have a bit of an issue with the price increase, but in reality, most people do not care. As long as you're obviously providing a good service and you're getting people results, then more than happy— they're more than happy to pay. So let's go through the exact email. And obviously on the back end, you just obviously change the pricing on Stripe or whatever software that you're using, and most people won't, won't care. But you obviously always give them a notice period, so you don't just say, hey, from the next payment, you say, cool, in 4 weeks' time, that's when you're going to have the, the new pricing. Gives them a chance to prepare if they are kind of in a financial, um, tough spot. So this is as simple as it needs to be. Okay, so the subject is an update regarding your personal training. I wanted to give you plenty of notice about a small change coming up. I've just been through a review with my accountant, and with the rising cost of running the business and managing this many clients, I need to adjust my pricing to keep delivering the same standard of coaching and support you're used to. 'From blah blah blah date, your rate will be moving to blah blah blah. Nothing about your training changes, same sessions as I said before. This just keeps everything running properly behind the scenes. Thank you so much for your trust and support, it genuinely means a lot. If you have any questions at all, just let me know and I'm happy to chat.' That's all you need to do. Now there is a couple of instances where you can add extra levels of support to justify the price increase. So for example, if you're going to increase your price by maybe 20%, perhaps you're going to add in extra layers of support. So maybe, for example, and I think you guys know this, but for the first like 2 and a half years of me being a PT, I used to do everything through Google Sheets. I didn't have a software, like a program software or anything. So I could have done this but I chose not to. But if I wanted to go and like put everyone on to like Trainerize or EverFit or PT Distinction or whatever, I could have easily said, hey, now we've got our own personalized app that you can track all your workouts in. How good is this going to be? The, um, you know, for this, for this to happen, we need to just have a small pricing adjustment. So from XYZ date, you're going to be charged this much. Now for that specific thing, maybe some people will opt out of having the app. But I guarantee you most people will be like, shit, yeah, that's so good. Let's go, it's gonna get me better results. It's a win-win. It's the same thing when I did, when I bought my body scanner, I think I've told you guys this story before. When I increased the price for my body scanner, my extra income grew by $700 a week. But the cost of the body scanner was about $200 a week. So I profited an extra $500 a week, and the clients got unlimited body scans whenever they wanted. It's an absolute no-brainer for them. So there is instances when you can add extra things to your service to get them a better result and then justify the price. So there's a few different ways to go about it. So obviously if you, if you increase your price maybe every 6 months, for example, maybe you might need to add some extra levels of service. Um, there was also, um, a client hot seat that we did with Amy. If you guys remember Amy, um, we actually increased her price, uh, I think it was 4 times, uh, within, within 12 months. So don't just think like, don't just think it's like a one-time thing that you can increase your price. You can increase your price multiple times with supply and demand, okay? Because people just kept paying the new price, but then people just kept wanting to buy, so you had to keep increasing your price, okay? So don't feel like it's just like a one-time thing, okay? So the last part of today is how to handle people that pushback on the increase in price. So there's a couple of different ways that you can do it. So I'm just going to tell you a few different ways and you guys can choose what's going to be better for you. People say they can't afford the increase. You can literally just say, no problem, I'll keep you on your current rate a little bit longer. Long term, I'll need to move you up. So that's literally what I did for the, the person that didn't want to do the price increase. She had a big issue with spending the extra money. So I said, no worries, I'll just leave yours exactly as it is. That's completely fine. It's a minority. No one else is going to know. Um, if, if it's a decent jump, for example, go from $100 to $120 a week, um, you can drop sell to a different type of service because remember, you're selling the outcome, not the time required. So you're not just selling PT sessions, you're selling the overall outcome. So it doesn't matter if they do online or face-to-face. They're still going to get the result. Okay, you just drop sell. So you say, okay, cool, well, I know you can't afford a $120, uh, is the budget still around $100 a week? Yeah. Okay, cool. Well, what we can do instead, we can do either a fortnightly session, which is going to drop the price down to whatever, or we can do online. Both are still going to get the same result. It just depends if you want some in-person training or if you're happy to do, um, the online, online option. Which one's better for you. So it, it works out in your favor still, so you don't have to drop the price or keep them on the same price, but you just give them a different type of service that they can actually afford long term, and maybe it's more affordable to them, so, so they stay with you longer. Okay, so you can either just agree to keep it at the same price for special people, or you can drop sell them to a different type of service. Uh, the last one where people will be like, hey, why are you increasing your price? Um, and the short answer is, um, as we get more clients, there's more software, there's more, um, things that we— or more systems that we need in place to be able to ensure that all our clients get the best results possible. So with those extra expenses, we need to make sure, um, yeah, well, obviously we need to, we need to eat and live as well. So that's a nice easy way to explain it to people that are like, hey, why are you increasing your price? You know, who— why do you have expenses? And people just think PTs just, uh, have nothing that they have to pay for. So now you generally don't want to discount anything, um, but that's a couple of different options that you can you can do. Uh, so that's pretty much the objection handling. Um, do anyone have any questions, or does anyone want to specifically talk through their specific scenario in terms of if they're wanting to increase the price, and then I can run you through some, some strategies to, to do it for your individual business? The last thing that I was just going to suggest you guys to do is just run the numbers on what your income would look like if you were to increase your price. If we go back to this checklist, do a little bit of a self-reflection on, on this. So if you're getting relatively close to being fully booked, uh, might be a good time to look at increasing your price. If you've got a little bit of savings behind you, you can take a bit more risk. If you're not getting too many price objections, that's a really big sign that you definitely have some room to move on the price side of things. And if your conversion is usually around 70% or more, or even 60%, to be honest, then you're leaving money on the table. Generally, the average PT would convert at about 30%. Um, but in like the typical sales KPI, like if you're around— if you're any more than 50, 50% close rate, generally in like a sales environment when you're, when you're selling something, generally that means you've got a little bit of room to move on the, on the pricing. You got a question, right? Harley, I just think— Yeah, who was that?

Joel.

Yeah, go for it, mate.

I had one this morning where this lady was like saying how she'd like never been in the gym sort of thing, only done group classes, blah, blah, blah. And like sort of in a sense like everything lined up for like an easy sale. And then I gave her my top 2 options. She was like, oh, it's like really expensive. And I said like, I isolated it. I said like if I'm just, so just to be clear, like it's just price, but you see the value in the rest of it. She was like, yeah, I suppose. And then I said, well, if I could find you blah, blah, blah, like a different package that could get you the same outcome, blah, blah, blah. And she was like, yeah, I'd be open to it. Showed her my one a week and she was like, oh yeah, it's like really expensive, not sure. And I was like, oh, just out of interest, like what are you not sure about? And she's like, oh, going on holiday in a month. And I was like, oh, no worries, we can just start with 4 weeks. I can pause you. And she was like, oh, I still got to think about it. Like, should I have kept going there? Or— because I said I was kind of pissed off at that point. I was like, whatever.

Okay, in the chat, who can tell me what the actual objection is? Who can tell me the objection? Because you handled the objection of the holiday. The objection is the price. Yeah, objection of the price.

Well, at the end I said I do, um, I said I do an— I do online coaching, which is $60 a week, if price is going to be an issue for you. And she just still said, I'll think about it, get back to you. And I was just like, all right, we'll see you. Bye.

Okay, so Let's, let's do a role play. Love a good role play. All right, um, so there's two things here. So the key thing is every single time, um, that you gave her a price, she said, that's like super expensive. That, to me, that type of language suggests that It's like way out of her price range for whatever reason. So what I would do, like, without knowing exactly what she's told you beforehand, her spending habits or blah, blah, blah. And actually, before we get into that, what was her spending habits like? Is she spending money on restaurant takeaway, alcohol, that type of stuff?

Nah, she said she doesn't spend her money on any of that stuff.

Okay, cool. So this is a bit harder. So I, I would say something like, if she said, look, that's, that's super expensive, um, I would say something like, like, as you did say, money aside for a second, do you feel like personal training is the right way to go about getting you these results? So you're trying to understand if she even sees value in personal training. Like, aside from money, do you think this is the right next move for you to get some help with your health and fitness? Because then you're actually like fully isolating the objection. Um, and then if that's a yes, I would— this is, this is the stage where I would be like, okay, cool. So what's your, what's your gut telling you in terms of how much you're willing to invest to achieve XYZ result?

I missed that. Yeah.

Um, but this one is a hard one because quite quite clearly she obviously doesn't have a whole lot of money, um, but you're just trying to make sure that, you know, personal training is literally the, the right next thing for her. And then it's just about giving her the best possible option, um, to, to work together. Because then what, what would happen then if she's, if she's like, my gut feeling is saying like, oh, I might be able to afford $60 a week as an example. And then you could say like, okay, cool, so if we had an option that was around about that $60 a week, would you be willing to give it a go? You know what I mean? That's the trial close to see if she's willing to do it. And then you'd be like, okay, cool, well, what we can do then is I can still get you the results. It would just be in an online coaching environment. 'So this is what it would look like, blah blah blah blah blah, and it's only going to be $60 a week. Should we do that instead?' Okay, can you see how I'm like more guiding through the process?

Yeah, yeah, I think when you said, 'What's your gut telling you about what you can sort of like, what you'd be willing to pay, what your budget is,' because then it kind of gets the onus on them to actually put something forward and then you can, you can almost agree. It's like you're saying that, oh, we actually have a package that's in that price range.

Yep, 100%. So the only reason why I would— if someone's like, oh yeah, I need to think about it, or I'm not sure, a good question that I like to ask is, okay, cool, what's your gut feeling telling you? What's your gut feeling saying that you can, you can invest in your health and fitness? Or what's your gut feeling telling you? Do you think your partner would be okay with this? It's a really good line to say if someone's like, I'm sure. Cool, what's your gut feeling telling you?

But when they say, um, like, I need to think about it, do you— is it the next thing you literally say, just out of interest, what do you need to think about?

Yeah, that's the right question. You say, cool, just, just so we're on the same page, what's, um, what stuff do you need to think about? Like, what's holding you back? That's the right question. For sure. I just think that, um, like, it's good that you handled the objection on the holiday, um, which is great. Um, but I think, I think if we ask that question, which is like, cool, what's your gut feeling in terms of how much you're willing to invest? Um, I think that would have been a really good question to ask. But also, maybe she can't even afford it, by the way, that, and that's also completely fine. But I think the good thing for you is you followed the framework, which is the most important part. Literally, some people just can't afford it, which is, which is okay. But the ones that are 50, you'll get those ones by following the framework that you just went through, which is good. Really, really good improvement.

Yeah, cheers.

Nice. I'm just going to go up to Harley. Uh, so I've just increased that I've gotten busier, uh, kept all the clients on the same, but anything new is a new price. Okay, so yeah, this is a common mistake. No offense to you, Harley, but a lot of people, they're too scared to increase their current client's pricing, which is holding them back because you don't want to get rejected. Telling you right now, they're not going to care about a $5, $10 a week price increase. It's just not going to happen. When they're, when they're getting results in their health and fitness, when they're feeling better when they're making progress, they are not going to care. And if they do care, I just told you guys an option on how to do it. Okay, prime example, you guys know I do jiu-jitsu. He charges $70 an hour for jiu-jitsu. I was like, mate, that is an absolute steal. I honestly would pay double that for this guy. Honestly, like double. I'm not going to tell him that, but I would honestly pay double. I could not care less if he increased his price or doubled his price tomorrow because I'm having a good experience and I'm getting results. It's the exact same thing with you guys for clients. Like, people, people always spend money on their health and fitness. You guys got to understand that they are going to spend money on their health and fitness. An extra $5, $10 a week is Nothing, because people will just adapt. How do you think people went when, uh, 10 years ago when fuel was 80 cents to fill up and now it's $1.90? What do you think people are doing now? They just adapt, just pay it. It's the same thing, exactly the same thing. What do you think people do when strawberries used to be a dollar, now it's $6? You just adapt. That was a good analogy for you guys. Um, does anyone else have any other questions on price increase, uh, or even anything? Uh, we've got probably another 10 minutes or so. Another questions? Yeah, Rob, go for it. Either unmute Well, unmute if you can, otherwise you can type it in the chat. Yeah, okay, just want to confirm because you cut out a little bit. So the question was increasing, uh, class rate for at the gym.

Yeah, it's 45 minutes but it's an hour because I got it set up and stuff and getting paid over $100 if that was a—

yeah, this is a really good question. Um, so a class rate, 75. Okay, side note, that's a very good class rate, by the way. Yeah, it's not as good as the PT rate. That's true. Um, yeah, Harley, Harley gets 45 for the same thing. So, um, yeah, this, this just comes down to an open and honest conversation with the the club manager or the owner, whoever, whoever runs the, runs the classes. Um, and this is the exact reason why I basically refused to do classes when I was a PT, because they used to charge— I used to pay like pretty similar to Harley, like a dollar per minute. So if it was a 30-minute class, you get $30. If it was an hour class, you get $60, etc. But it's just, it's just like not worth my time. Like, respectfully, it's just when you are established like you are, Rob, it's just literally not worth your time to do that. It doesn't matter how many people attend or anything like that. It just comes down to, hey, look, you're paying me $75 to do this class, which, yeah, I love doing the class, but my time is much more valuable. And because I'm so full I need to make decisions that's going to be in the best interest of myself and my business. And you know, that's, that's a slot that people are wanting to, to get. So I'm happy to still keep doing the class, but you can either pay me $100 to do the class and I'll keep doing it, otherwise I'm out. Nothing else to it. Yeah, cool. So yeah, even the ultimatum, good question though. Thanks. That goes for everyone as well, by the way. If the gym is trying to get you to do classes, you guys got to think like, what's, what's it actually like, uh, costing me in time? Because like anything that's like under $100 for like, because as Rob said, you've got to, you've got to set up the class, you've got to pack up everything. So it's not like a 30-minute class, it's like a 45-minute or a 60-minute block of time that, um, you could get a PT, a PT client for, or multiple PTs. For me, I was doing half-hour sessions, my hourly rate was $150, and they wanted to pay like $30 or $40. There's no way in the world that's worth my time. And then like when you get more established, or when you have this mindset, you become very purposeful with what you spend your time doing. So it becomes more apparent as you get more fully booked because you literally don't have a whole lot of time. But even for the guys that are a little bit lower in terms of, you know, number of clients, I'd encourage you guys to think like that as well. Like, is this actually worth my time? Because a lot of people, they, they spend time doing things that just not worth their time. Like, even a lot of you guys still do a lot of this admin stuff. It's just not worth your time, right? You could get someone to do this stuff for like $3 or $4 an hour, and you could free up more time to do more stuff that you enjoy. It doesn't have to be stuff relating to the business. It can just be stuff that you like doing. Maybe you just want to hang out with your family more. Hang out with your, you know, with your, with your kids or with your partner. It doesn't always have to be about growing the business, but the whole point is, is it actually worth your time? So thanks for asking that question, Rob. That was a really good, uh, really good point. It's relevant for a lot of people. Um, anyone else have any other questions before we wrap it up? I'm going to announce the trainings for August probably later on today. I'm just waiting on confirmation of a client hot seat, but I'm going to do— I'm going to announce it hopefully this afternoon. I'm going to do a session on Claude, Claude AI. So it's going to be a working session. So we're going to literally build out some like systems for you together. And then we're also going to do a, uh, a kind of a follow-up session on my sales presentation that I did in Sydney, which is how you can sell without the physical assessment. Um, I've had a lot of people have a lot of really good success, um, since that training. So I'm going to do some more like interactive role plays on that to give you guys some more insights into how you can do that, because that also is making your time more efficient. As well. You don't have to do the physical assessment. So, um, yeah, I'm going to release that, um, as soon as I got confirmation on the, uh, on the client hot seat. But yeah, apart from that, I'll be back on Monday. I know you guys missed me so much, so I'm going to be back on Monday. Um, and if there's anything else that comes up, let us know. Hope you guys have an epic weekend, and I'll see you on Monday. Bye, team!