Even after raising prices by 1.5 times, no one quit
When I became independent as a freelance tennis coach, I set my lesson fee at 8,000 yen per hour.
I was sometimes told it was a rip-off. But I didn't lower it.
And a few years later, I raised the price to 12,000 yen
(Regular students who take multiple lessons are in a separate category)
I'll start with the result. Not a single private lesson client quit.
How I communicated the price increase
This is how I communicated the price increase.
I informed new clients of the 12,000 yen price from the start. For existing clients, I told them directly, 'Please allow me to raise the price starting next month.' I made sure to tell those who had been coming for a long time last.
I think it's mentally exhausting to raise prices for everyone at the same time. So I communicated it in stages.
What happened after the price increase
After the price increase, not a single private lesson client quit.
There were about two people whose frequency of attendance dropped slightly. But zero people quit completely. The number of new people coming also remained almost unchanged.
Honestly, I found it strange. Why didn't they quit?
I have one hypothesis. It might be that the high price itself has become a form of trust. The perception that 'an expensive coach = someone worth that much' might naturally exist among the clients.
I changed after raising prices
The impact on myself might have been greater than the impact on the clients after raising prices.
The price increase prompted me to study more.
It feels a bit strange to say this about myself, but I think I am the type of person who incorporates quite a lot of different things (maybe it's my personality?)
I have a sense that my way of staying alert has become sharper. The awareness that 'I am receiving 12,000 yen' changed how I approach my own quality.
Naturally, my annual income also increased. It increased quite a bit.
Raising prices didn't just mean an increase in income. It also led to my own level-up.
To those who cannot raise prices
To those who say, 'I want to raise prices but I can't,' I will tell you just one thing.
Do not try to raise prices for everyone all at once. It will be mentally exhausting.
First, try raising prices for newer customers who you feel you would be okay with losing if the worst happens (I don't know how else to put it, sorry if that sounds harsh). Leave the long-term customers for last. This order is the most mentally comfortable.
And once you have raised the price for one person, move on to the next. By repeating this, before you know it, everyone will be at the new price.
Lowering prices is denying your own value
Finally, just one more thing.
There are people who will tell you to lower your prices. There are people who will ask you to make it cheaper.
I have never lowered my prices even once. That is because I believe that lowering prices is denying my own value.
Believe that you can provide value worth that price. Keep brushing up your knowledge and experience to gain that confidence.
That confidence will be conveyed to your customers. The results will change too. Your price is a reflection of that confidence.
From 8,000 yen to 12,000 yen. The experience of not having a single person quit gave me this conviction.
I should be able to provide an even better time.
I will keep working hard from here on out.
Kotaro Hayashi, Representative of tennis-peak Co., Ltd.
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