The Business Of Strength Podcast EP 224: The Price Dilemma
On this episode of the Business of Strength Podcast, Dan Goodman breaks down why gyms owners delay or handle price increases emotionally. In this episode, we cover when a price increase is earned, the metrics that should be in place first, and how to communicate it clearly and professionally.
• Price increases should reflect strong demand and consistent value, not solve short-term cash flow issues.
• Metrics to have in place:– 70%+ trial conversion– 95%+ retention– 70%+ session capacity– Current clients have not recently received a rate increase
• If sessions aren’t full, fix utilization before raising prices. Retention remains the clearest indicator of value.
• Executing the letter: keep it simple, direct, and respectful. Acknowledge loyalty, state the new rate and effective date, and express appreciation. The goal is clarity, not persuasion.
• Reminder: Trainer Empire — March 7th & 8th, London, England. Systems, leadership, sales, and operations for coaches and gym owners.
Get your Ticket HERE - https://london.businessofstrength.com/
Support our Sponsors of the Show:
TurnKey Coach
https://turnkey.coach/business-of-strength/
Ignite Entrepreneurs
https://ignite-entrepreneurs.com
Simmons Media
Naamly