| Charge Premium Prices |
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| Written by Art Mason |
| Tuesday, 10 June 2008 14:55 |
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Charge your enrollments premium prices and give premium customer/student service. When I was first given this concept by Master Stephen Oliver I had some problems with it. This was back in 2003 while attending a NAPMA conference in Florida. Master Oliver questioned me as to what I was charging students, when I told him he almost fell over! "Raise your prices" was all he would say. "After you increase those prices call me and I will help you get more students" At that time I was charging $40 per month, had 300 students and was working my brains off, not making any money and going crazy with problems. Many martial arts who decide to become school owners have serious problems with the idea of charging what they are worth. We are highly trained professionals and deserve to be paid as such! I followed Master Oliver's advice and doubled my tuition rate. We weren't getting many phone calls are we did not have much of a budget for marketing, but those who did call and booked intro classes enrolled, despite the $80 price tag. I was shocked. Currently I run a 200 student operation with enrollment rates between $129-$145 per month Our student service is outstanding and our 'quit rate' is very low. Now in the building my school is located my landlord, not being too bright, thought that if one martial arts school was doing OK, then 2 would be even better! Unfortunately I neglected to get a no competition clause in my lease, so an MMA Club opened up right upstairs above me. They are paying premium rent, had no students to start, and have other full time jobs. They are also charging half what I am. I expect by Christmas 2008 they will be gone. Now these guys have been soliciting my students, they have even managed to steal a few who's agreements were finished. Some people (parents) don't care about quality teaching and only concern themselves with price. Well they are not very good fits for what we are doing here, and therefore not really a loss. One parent asked me the other day about their low price. I said, "I guess they know what they are worth". School owners charge premium prices, get your staff on board, and create the best learning enviroment possible for your students. Quality will win in the end.
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| Last Updated on Saturday, 28 June 2008 13:11 |
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