I own a small personal training studio and I’m the only trainer. I’ve only been offering 1-on-1 training of 30 minutes sessions. I currently offer 1-on-1 packages of 5 sessions @ $150, 10 sessions @ $270, and 20 sessions @ $500. I live in a small town in a rural area with a median income of about $42,500. I want to make the training affordable for those who can’t afford 1-on-1 but I also have to cover my rent, utilities, supplies, etc. as well as the increased challenge of working with multiple people at once. Any suggestion of what I should charge for the small group based on what I charge for 1-on-1?
The answers to your questions are completely depend on you. You need to figure out which of the two options (monthly vs. # of sessions) works best with your lifestyle, monthly living costs, business expenses, etc. If you want to have some type of income every month then charging a monthly fee is the way to go. If not, then charging depending on the number of sessions a client buys would be the best option (I prefer this one vs. the monthly).
As for the amount to charge it all depends on how much you really want/need to make. This revenue will dictate your lifestyle, business expansion, etc. Giving you a number here will not be fair to you or your clients since I have no idea about the setup you have in place, the market rate in your area and your recurring business expenses. If people like you and your program, you will be amazed how far they are willing to go to pay what you are asking (without offering any discounts). Once you have a number in mind that will be fair to you, then it’s easy to go from there. This number will also help you decide how many participants you’ll need to have in each class and how much to charge them.