As a martial arts business consultant, we’ve seen many gym owners struggle with the decision of whether or not to raise their prices.

In this article, I’ll go over the reasons why you should consider raising your prices, and how it can benefit you and your business in the long run.

Why Raise Your Prices?

First and foremost, why raise your prices? The main reason is to always have room for new clients.

If your gym is consistently booked with regular clients, there won't be any room for new students, which can leave you feeling creatively stale.

New clients are what keep us motivated, and by continuously having new students coming through the door, it will keep your business thriving.

When Should You Raise Prices?

So when is the right time to raise your prices? The answer is simple, when you’re turning away new clients.

While it might seem daunting to raise your prices, it’s easier to ask someone who has never come to your gym before to pay your new prices, rather than asking your current students to pay more than they’re used to.

As you raise your prices, you’ll start to see a shift in your clientele.

The higher your prices go, the more respect you’ll receive from your clients, and you’ll attract new students from a different income level.

For example, if you used to attract a lot of college students or stay-at-home parents, after a few price increases, you may find that you’re now attracting more business owners or corporate level clients.

Let's do some math. If you raise your prices by 20%, and you lose 10% of your clients, what just happened?

 You’ve increased your available time by 10% and you’re still making 10% more money! This is a trade-off that’s well worth your time and effort.

Fear of Scaring Away Students

As a martial arts business consultant, I understand that losing clients can be intimidating, but it’s important to keep in mind that by raising your prices, you’ll attract better clients and make more money in the long run.

Don’t be afraid to lose a few clients, and focus on gaining better clients who will appreciate the value that you bring to the table.

So, if you’re feeling stuck and need to shake things up, consider raising your prices.

It may seem like a daunting task, but trust me, the benefits are worth it. And if you’re new to the martial arts industry and don’t know how to start, don’t worry. I’m here to help you every step of the way.