Margins, Services, Products and Pricing
To really maximise profit and reduce the likelihood of physical burn-out as a Barre Professional, often we need to look to the less obvious ways of generating revenue. Learn how to make dynamic income (not just payment for an hour of your time) with the below article.
Margins, Services, Products and Pricing
As a Barre Instructor, your main ‘asset’ is of course your ability to devise, teach and charge for workouts. You might offer these online, in person, as a group or on a private basis. Of course, you will need a pricing strategy that takes into account target market, competitive landscape, overheads and desired margin for each option.
But are you missing opportunities to charge for other services you didn’t even know you could offer?
You might add workshops into your offering, whether with a theoretical or practical focus, you might offer ‘Barre Surgery’ check-ins with clients - online or in-person to address specific issues in a short timeframe (15/20 minutes). You might collaborate with someone else - a pre/post-natal expert, NCT groups, a rehab professional or running coach to apply use of barre safely and specifically to a new audience.
In time, you may branch out into retreats or mini/day-breaks to immerse your clients in your coaching, or dip your toe in the water initially by inviting yourself to collaborate on an existing retreat at no charge to the co-ordinator. This in itself it a great way to reach out to new audiences and if you have online content available, there’s no reason they won’t continue to train with you after the retreat has ended.
Adding a regular Instagram live into your schedule might seem nerve-wracking at first, but it’s a great way to offer added value and to showcase your talents. Don’t let yourself focus on the number of viewers until you are well-established, then start to use those statistics to drive the content you are delivering - learn what does and doesn’t generate deeper engagement. Notice any changes to your social media following as a consequence of trying new things.
Get creative with your existing content - how could you re-purpose it? Finding multiple uses for content will enable you to not just generate income once, but many times and over time. If you run Zoom workouts, consider live streaming too. Not everyone wants to be seen on screen. And record the class while you are delivering it, then you can ‘sell’ the product time and time again ‘on demand’.
If you have any corporate contacts, offer to develop wellness content for their employees. With more and more people working from home, many businesses are actively investing in employee welfare and are acutely aware the impact of poor posture and hours spent behind screens or at desks. Use your knowledge of posture, movement symmetry and optimal muscular function to keep back/neck/shoulder pain at bay.
Offer to contribute written content. This may begin as non-paid work, but you never know where collaborations may lead. Collaborate with local GP surgeries who may have newsletters, write for wellness blogs, offer expert comment for established nutritionists, physiotherapists, professional sports coaches or athleisure brands. New, insightful and creative content holds significant value.
Run events - whether online or in person (when the world allows). Invite local businesses, therapists, healthcare professionals or beauty and skin experts to co-host a day of half-day event where you can draw together your databases to mutual benefit.
The more people and businesses you can collaborate with, the more you will advance your learning as well as your earning potential.