How to Price Your Classes for Spiritual Business Owners
One of the questions that I get asked most from individuals wanting to teach classes at the center is “What should my classes be priced?” There are lots of different things to consider when you are pricing your classes.
- Are you new to your field, community or area?
- Are these classes brand new?
- Are you competitive with the market value for the class?
NEW TO THE CENTER
- Have you taught classes at the center? If yes, are you filling your classes?
- Do you currently have a following or have individuals interested in your class?
When you are new to the field, community and/or area, it can take some time for you to build up a true following or interest in your classes or programs. People connect with people in today’s market. The personal connection that they build with the cashier, store clerk, purchasing agent influences their decisions on where they want to spend their money. They register and commit to classes and programs based on their personal connection with the teacher or the teacher’s reputation within their field, community and/or area.
It can take some time before people really connect and become interested in taking your classes. When I first started teaching classes at the center, it took months and months before people began to register and show up for my classes. My friends and family would come to my classes and they were so supportive, but how many times are they going to continue to invest in something that you are passion about. It is very similar to direct sales. You must move outside of your inner circle in order to build your business.
Discover Your Spiritual Gifts (DYSG) markets all the classes and program on several different platforms. The individuals in the DYSG community have lots of choices each month in classes and programs. We offer on average 30-40 classes each month and we only have so much disposable income that we are willing to invest in with your spiritual growth. The individuals tend to connect with a specific teacher and they will invest in taking all of the classes that they offer at the center.
The way we need to market our business has changed in the last few years. Business owners have to build relationships with the individuals that they connect with. It is important that we are networking and connecting with people in our tribe and community, When you are new to a field, community and/or area, you need to invest the time in: attending networking events, posting live videos about you and your programs on social media and connecting with your tribe at social events and programs.
- Is this a brand new class?
- Do most people connect or understand the topic?
If you are teaching a new class or class on a topic that the majority of the individuals in the community would not understand, your approach and the pricing of the class will be different. Some classes will have a reputation and/or a following based on the individuals that have attended the class and they are sharing about their experiences in the class. These will tend to be well attended and the teachers will sometimes have a waiting list based on the reputation of the class. If you are teaching a new classes or new to the community, you may need to lower your prices for the classes until you begin to fill up your classes.
We tend to want to have creative titles for our programs and classes. The issue with being creative is the fact that you may not be connecting with the audience that would take your class or program. The titles of the classes and programs should be simple and clear for new programs.
There are several ways that you can boost the interest in new classes and programs. (1) You can offer low cost or FREE introductory classes. This will allow the students to come and ask questions about the program. Some teachers will offer a few introductory classes before they launch a new program. These can be hit or miss depending the teacher, topic or class. (2) The teacher can write an educational article or social media post that explains the program and benefits. These are great ways to connect with your students that want all the information before they commit to something. (3) The teacher can record some informational videos to post on the social media platforms and the website that allow students to connect with the teacher, their expertise and the information on the class. These can be very effective in getting people interested in the program. (4) The teacher can create some marketing materials (postcards, brochures, etc.) that can be handed out to people, stuffed in the retail bags in the store or passed out at expos and/or networking events. Remember, it is about the connection and you are investing in you.
- Do others teach similar classes at the center or in the area?
- Is this class being requested or have people asked for the class?
- What will the students receive during or at the end of the class?
- How long is the class?
You also have to consider the market value of the programs. When you are new to a center and/or community, you must take the time to evaluate the classes that have the most attendance or the teachers that fill their classes and programs on a regular basis. What is their expertise? How long have they been teaching? What is the price of their programs? You may not be able to price your programs above the prices of the more seasoned professionals in the community. These individuals are setting the ceiling price for classes in the center and/or community.
When you start to fill your classes and/or programs, it is time to evaluate the price of your classes. The market value is based on the supply and demand. As classes become popular and teachers fill their programs, they will gradually raise the prices of their classes to meet the demand of what they are offering.
If you are not getting registered students for your classes, you may need to re-evaluate the title of class, the description of the program, the benefits that listed for attending the program, the price of the program compared to market value and your approach in connecting to people and attracting them to your program.
Who is your tribe? Where can you find your tribe? This will assist you in making better titles and descriptions for your program.
If a class is priced at FREE, most individuals will believe on some sub-conscious level that the class has not value and they will not invest their time in attending. If you are teaching a 1-4 hour class that is informative are more successful at the $20-$30 price ranges. People are more open to investing $20 in a program and/or teacher that they have not experienced before.
The full day programs will average between $45-$75. These programs should provide the students with value. The students are provided lunch, they receive a packet of information and/or book or the individual received a crystal, pendulum, feather, etc. As Tom has always told me, the students should take something home with them when they attend a class.
The certification programs bring real value to the students. The completion of the program earns them a certificate of completion. The students should have demonstrated that they have learned the information and have the tools needed to provide these services to their clients and/or information to their students. These classes will start at $75 - $333. The pricing will be based on the topic, the hours/days of the classes and the level of expertise that is offered in the class.
The programs that require students to take a series of classes will range in price from $222 - $999. The pricing may be based on the level of the program, since some classes have multiple levels of knowledge for the program. A great example is my Akashic Records series. This series has four levels of knowledge and the price goes up for each level of the program.
If you have an expertise for your program, you will be able to successful charge above these average rates. Sometimes when you are really new, you may have to lower your rates below the average rates.
This is constantly changing and shifting. I hope you find real success in your programs and this guideline assist you in pricing your classes effectively.
Check out the Discover Your Spiritual Network group that meets at Discover Your Spiritual Gifts on the 2nd, 3rd & 4th Thursday of each month. These groups are a great opportunity to learn more as a spiritual business owner, become empowered and network with others in the spriitual community here in Denver. Find out more at our Meetup page for this group.
Vialet Rayne of Discover Your Spiritual Gifts created an inclusive and welcoming spiritual center and metaphysical store in historical downtown Littleton, Colorado. Discover Your Spiritual Gifts is a haven for those seeking and teaching spirituality. This sacred sanctuary and loving community exist to heighten our individual and collective consciousness while unearthing and sharing each individual's inner gifts.
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