I have been approached by a company to teach a bootcamp style class one day per week to compliment the yoga classes they already offer. They estimate 2-8 people each class and want to pay, 1099, a flat fee per week. It will be an hour long class and I am not sure how I structure the flat fee. Any suggestions will be very much appreciated.
Here are the things that I consider in my pricing.
As an independent contractor, I bill myself out at 20% more than I get paid as an employee at places where I teach the same thing.
I add in an up-charge for gas and transportation time. The gyms where I work are all less than one mile and less than 10 minutes from my house, so if I teach anywhere outside of that radius, in order for it to be “worth it” for me, I need to be compensated for my gas and time. Not everybody feels this way or does this, but I have a very full schedule already so I place a monetary value on my time.
Corporate sites tend to pay a little better than gyms. So, after consider the above, maybe add a couple of dollars.
Be prepared to back your fees with a resume and client reviews and you should do fine. Since they came to you, that’s a good fact.
Williston has tremendous opportunities for growth, especially in the fitness area because of the rapid growth that is going on. I was actually looking into moving there in 2011 as well, but I decided to move to Madison WI instead because I couldn’t find a place to live. I’m sure things now have improved and you are in excellent position to make it big up there :-)!
As for your question, can you negotiate to pay you monthly? It would be easier and better for you to do it that way because your time and revenue would be guaranteed for a month instead of weekly. Since they are a corporation, coming up with a fee it’s not that difficult. You can either charge per hour no matter how many people show up to your classes or charge per person (not the best choice). You could charge 50% more from what you charge for singles because of the extra work you will be doing. That is what I charge my corporate clients with the exception I do it on a monthly basis (not weekly).
I’m sure others will give you their input which you might find more suitable to your situation, but this is how I base my corporate rates. Keep in mind that you are in market where you can pretty much ask what ever you think you worth and you will most likely get it. The supply of trainers in Williston I’m sure it’s not as big as in other parts of the country (demand for trainers there is larger than the supply). And this gives you a great advantage when negotiating your rates. Good luck!
Hi Amelia. Here’s my single piece of advice. Give a single price for your time/class and then let the occupancy of the class determine how much each person pays. This helps eliminate issues such as making less from class-to-class as the participation fluctuates. Here’s what I mean: Let’s say I charge them $100 per class, minimum class participation 4 people, maximum 10. That way, so long as at least 4 people register for a given class, the ‘class will go on!’ Each person in that instance pays $25. If more people register for the class, the per person charge goes down, but either way, you KNOW you will be making the $100 each time you teach the class.
I hope this helps.