I was having a conversation last week with my massage therapist who was conflicted about raising her rates. I asked when the last time she increased her pricing was and it had been about five years.
She believed she was currently on the higher end of what other massage therapists charged and had fears that if she increased her rates she would price herself out of some of her clients or that she would even upset some of her clients.
I asked if she lost a single client when she raised her rates 5 years prior. The answer was no. Imagine that!
I then asked how many years of experience she had, the answer was 15.
I followed up by asking if she believed her services helped her clients. The answer was of course yes.
My response, you are not charging this new rate just for 60 or 90 minutes. The new rate is a result of the 15 years of experience you have that allows you to achieve everything you are able to achieve in those 60-to-90 minutes.
That is the key right there. Imagine you are a personal trainer with 10 years of experience. You rates are correlated to all your experience that you take into every session.
You do not just charge for the time you are with your client. You charge for the wealth of experience, knowledge and background that improves that value of the service you provide.
The massage therapist agreed to raise her rates. I know she won’t lose me as a client.