How much to charge for your kids arts and crafts classes is probably one of the most common questions we get from our community.
In this video we talk about 4 tips to price your arts & crafts classes with confidence.
You can also grab our Free Pricing Calculator below this video which will make things super simple for you!
The aim of the tips is to help you get over that guilt and gain confidence so that you never struggle, feel awkward, or feel the necessity to provide constant discounts when pricing your classes again!
Over the years we’ve helped dozens of women start and grow their kids crafting clubs and a theme that I’ve noticed is that many of these business owners feel guilty to charge for their classes and then they charge too little or feel the need to provide constant discounts, and it's mainly because of three reasons:
Just because you are having fun it doesn’t mean you should be undercharging for your service!
You never go to the hairdresser or gym or to a yoga class or to the movie theatre and not pay. No one will come to your arts and crafts classes and expect NOT to pay.
Running a kids crafting club is a business and for your business to be profitable you need to price your classes for profit.
You put a lot of prep and effort and love into your business and are delivering a fantastic service - and it's more than that really, it's a whole experience for your students!
You are teaching skills that help kids with developing a whole host of processing skills and problem solving skills that are getting them ready to be able to solve real world problems one day.
Share feedback on what skills the kids are learning and on the progress they make. By sharing feedback you involve them. Parents are willing to spend money on the development of their kids.
So it’s really important to be confident about what you charge and to not feel guilty about it.
Understanding what others in the market charge will give you a better idea of what you can charge and what customers are willing to pay. It will also boost your confidence to know that your pricing is in line with the market.
After doing research, make sure that your pricing is market related.
If you underprice your classes you won’t make a profit and you may end up feeling unmotivated or even worse: resentful.
To ensure you make a profit you need to account for all your costs and watch those hidden costs.
Think of everything included that makes your class possible:
Total Cost = Time + Supplies + Overheads
The FREE Pricing Calculator will make it easy to calculate your pricing and account for all the costs.
What I mean here is to rather than price per class reframe it a bit and price your classes per month, per term or even better, have a monthly subscription.
There are two benefits to not pricing your classes individually:
At our studio, parents pay per school term and we do it online which is very convenient, so they only need to do 4 payments per year. This is way better than worrying about making a payment every single week!
I hope this video was useful and that it has finally cleared up any doubts or guilt feelings you've had around pricing your classes so that you can price your classes with confidence going forward.
Now, I’d love to hear from you.
What is your biggest stumbling block around pricing your classes?
Tell me in the comments below.
Until next time,