If you regularly teach yoga in a studio, you might still consider making a living in line with your practice that doesn’t take up all of your free time. Offering online classes is a good choice. Sounds like a plan, right? Then you would have to explore ways how to charge for your virtual yoga sessions.
Five ways to charge for your online yoga classes include knowing the value of your service, creating a variety of pricing options, using an online payment system, offering more than one payment method, and extending discounts.
Continue reading as we look at the different ways you can charge for your online yoga classes and discuss which one might be the most suitable for you and your students.
Know the value of your service
When it comes to charging for your virtual yoga classes, it’s essential to first know the worth of your service. Remember that you are offering your students your valuable time, skills, and effort and providing the facility, accessories, and props that can help them achieve their desired mind and body balance. For all these, you should be compensated accordingly.
Consider the amount of work you put into your classes and the amount of time you spend preparing for them. Count in the level of expertise you bring to your classes and the benefits your students will gain. Once you have evaluated all these, you can move forward to setting a fair price for your online yoga classes.
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Create a variety of pricing options
When setting up a pricing structure for your online yoga classes, you should design and offer a variety of options to make sure that you are providing something for everyone. For example, you could offer a single class rate, a package of classes at a discounted rate, or even a monthly subscription option that allows customers to purchase multiple classes at once.
Additionally, you could make available classes at different levels such as beginner, intermediate, and advanced with different rates for each. This will allow students to choose the type and level of practice that best suit their needs and budget.
You could also have special offers for first-time customers or those who sign up for multiple classes at once. Providing these options can encourage yoga enthusiasts to sign up for your classes and will help to keep them coming back.
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Set up an online payment system
When you are offering online yoga classes, one of the most important things to consider is the convenience of how you will accept payments. Fortunately, there are several online payment solutions available for this particular concern.
One option is to use a platform like PayPal or Stripe, which allow you to easily set up a payment page where clients can pay for your services using their debit or credit cards. Another is to set up a virtual terminal that allows clients to pay using their bank accounts.
When setting up your online payment system, make sure to consider the fees associated with each option. Depending on your chosen service, you may be charged a flat fee for each transaction or a percentage of each payment. Additionally, check the security measures that each service provides to keep user data and payment safe.
Once your payment system is in place, make sure that you clearly explain to your clients how they should go about paying for their classes to make it easier on them and ensure a smooth transaction. Also, communicate any policies you have in place regarding late payments or missed classes. Outlining these ahead of time will ensure that your business runs without a hitch and that your clients know what to expect when paying you.
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Offer a variety of payment methods
When it comes to charging for your online yoga classes, offer a variety of payment methods to make it as convenient as possible for everybody. One of the best ways to do this is to provide an online payment platform like PayPal or Venmo that is secure and simple to use. This will allow your students to pay quickly and securely without having to enter any credit card information.
You can also offer payment methods such as cash, check, or money order. This allows people who may not have access to credit cards or online payment options to still participate in your classes.
Another alternative is to allow your students to pay through a monthly subscription. This type of payment allows you to charge a set amount each month and will help keep your students coming back for more. You can also offer discounts or incentives for settling multiple-month fees in advance.
A quick tip: include all payment options on your website or registration page so that people know what is available and can choose the option that works best for them.
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Extend discounts
Discounts can be an indirect method to charge for an online yoga class. Setting your prices with an attached price slash can attract students and make an impression that your virtual yoga classes are affordable. Consider offering markdowns on your fee for students with special needs, seniors, veterans, or those with financial hardship. You could also offer them to students who sign up for multiple classes or avail of a membership package.
Discounts are also great for special occasions such as holidays or birthdays. You can charge your online students the usual rate but with a special price cut to celebrate their natal day or during special yoga holidays. Be sure to clearly communicate all discounts that you offer on your website and marketing materials so that your clients know what to expect when being charged for your services.
Conclusion
Five ways to charge for your online yoga classes include 1) knowing the value of the service you are providing, 2) creating a variety of pricing options, 3) using an online payment system, 4) offering different payment methods, and 5) extending discounts. Your level of comfort with your chosen price point is absolutely necessary. Regardless of the type of yoga that you are teaching online, you must ensure that you have certainty in your mind and heart that you are being compensated appropriately for the value contained within the virtual class that you have developed.
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Frequently Asked Questions
Pilates is a good option to consider if you want to improve both your strength and your flexibility at the same time. Yoga is a great practice to take up if you want to see an overall improvement in your health.
Online yoga classes are often cheaper than in-person sessions and have different styles and level options. You can take these without having to worry about what to wear or how you look. It’s also easier to schedule a session with your instructor.
To learn more about starting your own Yoga Business check out my startup documents here.
Please note: This blog post is for educational purposes only and does not constitute legal advice. Please consult a legal expert to address your specific needs.
Meet Shawn Chun: Entrepreneur and Yoga Fan
I’m a happy individual who happens to be an entrepreneur. I have owned several types of businesses in my life from a coffee shop to an import and export business to an online review business plus a few more and now I create online yoga business resources for those interested in starting new ventures. It’s demanding work but I love it. I do it for those passionate about their business and their goals. That’s why when I meet a yoga business owner in public at a studio or anywhere else I see myself. I know how hard the struggle is to retain clients, find good employees and keep the business growing all while trying to stay competitive.
That’s why I created Yoga Business Boss: I want to help future yoga business owners like you build a thriving business that brings you endless joy and supports your ideal lifestyle.