There is a wide range of prices in martial arts schools around the world. With competition being so steep, you cannot provide a service at a price higher than the value you give to your students. As facility and overhead costs also vary wildly, you’ll sometimes be forced to increased pricing. With this in mind, we want to show you how to run a school where the higher membership price is fair and justified.
Here are a couple tips to justify charging that extra dollar:
The most obvious one is to give your students a high-value experience. Make sure your instructors are all properly trained and effective, as they are the ones who your students learn from and they’re the ones students and parents will judge their decision on the most, when they think about the value of their membership. On top of this, you’ll want to make sure the facility itself it well taken care of; providing a great overall experience with students, parents and staff alike.
Confidence, Not Arrogance
Be firm when communicating your price, while avoiding arrogance. You want to communicate exactly why your school is priced the way it is but not in a way that will turn the prospective student or parent off. Working on your sales technique will be great to acquire new students but it won’t help much in the way of keeping them. Speak about your school, experience and brand with confidence. What will make them enjoy your school more than others? Whatever your answer is, work on that.
"When you're increasing your prices, it's important to justify the decision." (Image by Rocky Lubbers, used under CC)
Check out Your Competitors
We’re not talking about being underhanded or shady: we’re talking about being aware of the experience other schools give. An undercutting war isn’t in anyone’s best interest but, at the same time, you’ll want to ensure your value proposition is better than your competitors. A student who has transferred to your school from another is a great source of this information but only if the student is fully comfortable with talking about his experience. You’ll want to make sure you frame this in a positive and curious way, instead of judgmental and inquisitive. In the end, you want to build a community of support where you are constantly improving.