Yogis get seriously hung up on money topics. From making money to asking clients for payment, we can all struggle with the issue. Setting prices is, by far, one of the most popular questions I get as a mentor to private yoga teachers.
Money feels complicated, dirty, and scary for a lot of teachers. Out of frustration, uncertainty, and lack of support, I see private yoga teachers teaching for free or charging close-to-nothing prices. I’ve also witnessed yoga teachers apologizing for asking for payment or for charging a certain amount.
A lot of teachers even confess that they would never pay for private sessions when they could take a group-led class. And they'd say this to potential clients nonetheless. A lot of my eventual clients were on an exhausting hamster wheel of single-sessions and couldn’t get people to invest in package offerings.
I’m not a money coach or a prosperity whisperer, so the rules I’m going to give you today are logic-based. Before we dive into some money tips for setting your pricing as a private yoga teacher, the best piece of advice I can give you is to get your money shit figured out first.
Read books, invest in a money course, bust your money-making fears, and then get to work teaching yoga. Consider these parameters when pricing private yoga sessions.
Rule #1: Don’t compare.
A lot of private yoga teachers are either undercharging or overcharging without delivering proper value. While it pays (pun intended) to have an idea of what the lowest and highest rates are in your area, don’t compare your prices with other yoga teachers as a general rule.
Rule #2: Know the value.
Establish the value you deliver to your clients in terms of yoga, impact, and transformation. Start with this value in mind when setting your prices. Consider the elements you bring into each session and don’t be shy about communicating what those pieces are. Remember, you are delivering something much bigger than yoga.
Rule #3: Don’t be a bargain.
Don’t be the best deal in your neighborhood. Being bargain-priced attracts bargain hunters and sometimes not serious students (insert Groupon debate here). Plus, psychologically, people will attach less value for a cheaper service. Ouch!
Rule #4: Set a date to revise your pricing.
Every four months or so, have a date with your pricing structure and evaluate it. Pricing is fluid, not set in stone. As your offerings evolve, your confidence builds, and results follow the work you are doing one-on-one. With time, you’ll have a clearer idea of what exchange is appropriate for your offerings.
Rule #5: Charge no less than $60 per session BUT…
Charge no less than $60 per hour for your private yoga sessions BUT don’t think this gets you off the hook for charging more if you should. Consider value, where you live, your experience, and what they are receiving from you in addition to instruction. Then set your pricing appropriately.
Individually, we have the responsibility to work with clients who are a great fit for our expertise and whom we are best suited to help. Collectively as yoga teachers, we have the duty to make peace with our money shyness and solve our pricing conundrums. With this, we will all come to associate private yoga sessions as impactful, instrumental, and worthy of a monetary exchange.
For the love of yoga, use these pricing rules as the groundwork for your private yoga sessions. With them, you will build your confidence in pricing and your lessons, and you'll create a foundation for sustainable private yoga teaching.