How you view your services has a tremendous impact on how you build a customer relationship. If you think you are quoting a fee when talking about your training you may feel awkward quoting your prices. When you aren’t confident in your approach to sales you make it difficult for the prospect to have confidence in you. Most likely they will “have to think about it” and you’ve just lost the sale.

When you refer to your personal training services using the word “fee” it sounds to buyers as if they are incurring an expense. Subconsciously you may feel you have to validate why you charge a certain rate. To my ears, “fee” is synonymous with the word “tax.” I know I have to pay taxes but I don’t particularly like it.

When you refer to your personal training rates as an investment it takes on a whole different meaning. Think about it. What does an investment mean to you? Typically when you invest in something you receive a return. You expect to receive a benefit- like investing in your education, or building a retirement savings plan. You add to your wealth or your personal growth with an investment. That’s exactly what your clients or prospects need to think  when they choose to train with you. It’s an investment in their health and wellbeing.

I no longer refer to any of my services as fees. When you book a business coaching session with me you have made an investment in the growth of your business. I work with you to help you build your business, and together we ensure your success. Every dollar you invest in business coaching to grow your business is valuable. As your business coach I work to earn that value during every session so you feel you have invested wisely in your decision to do business with me. I strive to bring value to every coaching call. I’m so passionate about this that if your business doesn’t grow I will refund you 100% of your investment.

Did you sense my passion and commitment in the paragraph above? This is exactly what I communicate to my prospects. I firmly believe that they are investing wisely in themselves and their businesses.

As a personal trainer you can do the same thing. When clients invest in you as their trainer they trust you to help them achieve their goals and help them get results. You invest your time and energy to make that happen and they invest their money in you. Your clients aren’t spending money but investing in themselves and achieving a specific goal.

So it’s not just about whether to use the word fee or investment. It’s about what those words say to you and to a prospect.

1. Be reasonable about how much you intend to increase your fees. Raising your fees by $5 or $10 all at once will be too much of a jump for most people. If you need to raise your fees by that much then you probably set them too low to begin with. Instead start with a $1 to $2 increase. Overall it won’t seem that much for the client to bear and you will have fewer objections to your fee increase.

2. Explain the increase. While some clients will not care about the reason you are increasing your fees, others may want to know why. There could be any number of reasons why you need to raise your fees. Rising costs to your business, setting your fees too low or you haven’t raised your fees in a number of years. The best policy is to be honest with your client when they ask why. State your reasons confidently and make no apologies. Every business has to increase fees at some time or another. It’s a good idea to include the phrase, “prices subject to change” on your fee schedule. Point this out when signing a new client and let them know the last time you raised your fees. As a customer I would want to know if I was going to get a surprise in a month regarding increased fees.

3. Inform your clients ahead of time. Give your clients plenty of notice when you intend to raise your fees. Provide one to two months advance warning so clients have time to make any necessary adjustments to their budget. Talk to your client in-person or on the phone, not by e-mail or letter. This is more personal and allows your client an opportunity to communicate any issues right away. It also demonstrates your commitment to listening to their concerns and working them out. Follow-up your conversation with a reminder letter or e-mail.

4. Offer additional value. If possible, offer additional value when you consider raising your fees. For example you may decide that after ten sessions your client will receive a complimentary fifteen minute stretch or a travel program. You don’t have to offer additional value simply because you raise your fees but it can be a nice touch.

5. Create a red carpet club. Create a VIP program for your loyal clients and don’t increase their fees. By not raising their fees you reward their loyalty and continue to build good will with your client. Instead increase your fees for new clients only.

It’s possible that you may lose a client or two when you raise your fees. Obviously, that’s not advantageous but it can happen. Money is increasingly tight for people and every dollar counts. However, it’s been my experience that for every client you lose another one will take their place.

If you are really concerned that you may lose too many clients by increasing your fees, then consider cutting your expenses or looking at other ways to generate revenue. Talk to your clients and feel them out. Let them know your situation. If you have taken the time to develop a trusting relationship with your clients they will understand your situation and be more willing to help.