Upping my Fees (Joanna, Reflexologist)

Mike's Reply:
by: Mike

I think that there are 2 things to consider here:

You seem to have concluded that 45 euro for a session IS too little (versus other therapists etc.) - so now the real challenge is to break the "bad news" to your existing clients, while keeping your relationship and business going. So, it's not a question of "if", but a question of "how"?

You got yourself into a position where you slipped behind what other therapists were charging in your location. Why was this? Was it because you felt less qualified? Less able to get results? Just didn't get around to it? OR back to the first point, just didn't know how to announce higher fees even when you felt your services were worth more.

I like to work with therapists by advising them to CONTINUALLY increase the VALUE of what they offer the client. Make it so you are ahead of the "competition" in all areas: private feeding area for mums with babies, great parking, wonderful ambience in your place, choice of price plans etc.

This is usually the first step in FEELING better about increasing your prices - continually increasing the value of what you offer throughout the year so when it comes to that (usually) once a year time when you examine your prices: Ask yourself: "What is a really good reason why I SHOULD NOT increase my price this year?" In other words, make a yearly price increase the default that needs to be argued against.

But - always against a backdrop of increasing the VALUE of your service to your clients.

Now, onto the first point. You have a problem - you didn't do the above (tut! tut!) and now you need to break the "bad news" of a price increase to your clients.

So, here's how to do it.

Figure out your new price - say 55 euro for a standard session - and then:

Put up a poster in your clinic that states "As of x date (say about 2 weeks from now) - our fees will rise to 55 euro per therapy session." You can include whatever reason you want on the poster if you wish to.

When you take booking from new clients - state the new amount to them straight away. Notice how most of them will be ok with it!

For each of your current clients - give the reminder "just a reminder, when we meet again, the new fee will be 55 euro. Is that ok with you?" If the answer is no - then it is no. You may need to negotiate that they come less often. Do not negotiate the price.

What I have found is that when a therapist does the above - factually and fairly - they will often "lose" a couple of clients. And often those clients were looking for an excuse to take a break from treatments anyway.

And that is more than made up for by the new number of higher fee-paying clients that will come your way.

Just remember - focus on offering more and more value through the year, and it will become a lot easier to maintain a healthy fee structure.
Good Luck, Mike.

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Submitted by: Mike

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I think that there are 2 things to consider here: <ul><li>You seem to have concluded that 45 euro for a session IS too little (versus other therapists etc.) - so now the real challenge is to break the "bad news" to your existing clients, while keeping your relationship and business going. So, it's not a question of "if", but a question of "how"?</li> <li>You got yourself into a position where you slipped behind what other therapists were charging in your location. Why was this? Was it because you felt less qualified? Less able to get results? Just didn't get around to it? OR back to the first point, just didn't know how to announce higher fees even when you felt your services were worth more.</li></ul> I like to work with therapists by advising them to CONTINUALLY increase the VALUE of what they offer the client. Make it so you are ahead of the "competition" in all areas: private feeding area for mums with babies, great parking, wonderful ambience in your place, choice of price plans etc. This is usually the first step in FEELING better about increasing your prices - continually increasing the value of what you offer throughout the year so when it comes to that (usually) once a year time when you examine your prices: Ask yourself: "What is a really good reason why I SHOULD NOT increase my price this year?" In other words, make a yearly price increase the default that needs to be argued against. But - always against a backdrop of increasing the VALUE of your service to your clients. Now, onto the first point. You have a problem - you didn't do the above (tut! tut!) and now you need to break the "bad news" of a price increase to your clients. So, here's how to do it. Figure out your new price - say 55 euro for a standard session - and then: <ol><li>Put up a poster in your clinic that states "As of x date (say about 2 weeks from now) - our fees will rise to 55 euro per therapy session." You can include whatever reason you want on the poster if you wish to.</li> <li>When you take booking from new clients - state the new amount to them straight away. Notice how most of them will be ok with it!</li> <li>For each of your current clients - give the reminder "just a reminder, when we meet again, the new fee will be 55 euro. Is that ok with you?" If the answer is no - then it is no. You may need to negotiate that they come less often. Do not negotiate the price.</li></ol> What I have found is that when a therapist does the above - factually and fairly - they will often "lose" a couple of clients. And often those clients were looking for an excuse to take a break from treatments anyway. And that is more than made up for by the new number of higher fee-paying clients that will come your way. Just remember - focus on offering more and more value through the year, and it will become a lot easier to maintain a healthy fee structure. Good Luck, Mike.

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Upping my Fees (Joanna, Reflexologist)

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