What We Cover In This Episode:

• News with Nick and a snack movement that is on the rise [0:57]

• Whether your price point should be earned or be determined by other factors [4:02]

• If the cost of instructor education will impact the cost per class [5:44]

• Why you need to consider your competition when crafting your pricing models [13:03]

• The reasons that premium pricing is very specific to who you are and what you do [15:53]

• What to always do when implementing price increases [16:46]

• A quick win strategy you can use to see how you stack up to other studios while gathering valuable intel [19:32]

• Our weekly challenge to help you determine the perfect price for your studio to offer [21:27]

Quotes:

"The intimate setting, small group instruction and the real connection between that highly-specialized instructor and their students, that justifies the pricing." [Megan, 5:30]

"Premium pricing is really just a top tier of what you're worth. It's not exceeding what you are worth." [Megan, 14:00]

"You are first and foremost a business. You might build a community, you might be a safe haven, you might be a great place for many of your members, but first and foremost you have bills and people to pay." [Megan, 18:34]

LINKS:

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