Finally!! Lesley Logan is back for a second episode and I’m so excited to continue the conversation about pricing, membership, Pilates lineage, and industry predictions. Lesley was a guest on episode 49 and it’s still one of the most downloaded episodes of The Friday Society podcast! So if you haven’t listened please follow this link to check it out!
Lesley Logan’s resume has expanded since we last spoke a year ago. On top of being an expert Pilates instructor, Founder of OnlinePilatesClasses.com & PilatesAnytime; she is also a Pilates business coach, podcaster, and an all around badass.
Lesley’s abundance mindset is something I respect about her so much. Being in the fitness world, with many Pilates options, it’s easy to feel like there isn’t enough clientele to go around but Lesley completely debunks this way of thinking and leaves the scarcity mindset at the door. We chat about not having the scarcity mindset around business and making money which truly is a daily practice.
I’ve talked about burnout on my podcast quite a bit, because having no energy to run my business means there is no business. It can feel chaotic, unenjoyable, and highly stressful. As business owners, we have to protect our energy and figure out where we can leverage tools to take action items off our plate. This plays a really big role in charging for your services appropriately.
Charging your worth and standing by your policies will help clients respect you and allow you to be more confident in what you are offering. Clients often ask questions about discounts or creating personalized packages but you are allowed to say ‘no.’ This doesn’t mean you will lose a client, because most of the time they are simply just asking a question. So don’t be afraid to uphold policies and create boundaries. For example, if a client only wants to pay cash but you are a card-only business, it may not be in your best interest to change your policy for this one client. And most likely, they will find a way to pay with a card and keep coming back.
Lesley has been in the Pilates world for a long time and I was interested to get her opinion and predictions of the industry over the next few months and years. There is so much to unpack here so take a listen but one of my favorites was that you have to be clear and conscious on price packages that work for your business. You can’t mimic another person’s business and expect yours to be successful. If your business model has smaller classes with fewer instructors, your margins and cost structure are going to be very different than the studio running 15 classes a day with many instructors.
I’ve hosted webinars for my FFC monthly membership clients about understanding their margins and profitability. For obvious reasons, it’s a hot topic. Can you clearly do the math on your memberships and understand how much profit an individual client is bringing to your business? Lesley breaks down how to think about your membership options for the structure of your studio. Also, how important it is to set policies such as expiration dates. Lesley works with several clients who are making a million dollars and do not have memberships. So there are lots of way to make money depending on your business model and goals.
This podcast is a must listen because these topics are what my clients are asking about all of the time. Check it out and let me know what you think!
Learn more about Lesley here!
If you’re interested in learning more about the FFC monthly membership you can find all of the details here!