Episode 208: Is Boutique Pricing Justified?

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:   Visit the fitDEGREE Knowledge Base Send Megan Your Playlist or Discuss the Podcast Here! fitDEGREE's Business Portal https://calendly.com/fitdegree/support  [email protected] https://www.instagram.com/fitdegree/ ​​https://www.instagram.com/fitspot_guru/  https://www.fitdegree.com/blog