How often has this happened to you: you publish your online class schedule for the week (it's packed full of extraordinary sessions and motivating moves, of course), and then sit back, cross your fingers, and hope that enough people sign up to make it worth your while.
Online fitness instructors have gotten used to living in a universe of uncertainty. Seasons, holidays, and hectic lives can get in the way of students establishing and maintaining a fitness routine. That affects your monthly bottom line. So, how can you create a more predictable income while helping your students keep their fitness level? Recurring revenue streams are the answer. Let's take a look at a few ways you can create recurring revenue as an online fitness instructor.
Let Them Subscribe!
Relying solely on a drop-in or pay-by-the-class strategy is usually the wrong approach to grow your business. Students aren't committing themselves financially or emotionally to your offerings. However, subscriptions are a great way to create predictable revenue and encourage students to commit to their health.
Setting it up:
First, decide how many classes you'll be teaching each week. Make sure you can commit to this cadence so your students can count on it. If they see that you offer four classes one week and two the next, they might not think a subscription is worth it.
Then, set the price. There's no magic formula on how to decide the price for your subscription, but you want to make it enticing for the student to purchase the subscription rather than drop-in classes.
One pricing strategy is to offer a discount on the per-class rate. For example, if you teach three classes per week at $10 each, give a 20% discount for a weekly subscription and 30% for a monthly subscription. So, your student would pay $24 per week or $84 per month for unlimited access to your classes and VOD library.
(Best of all, you don't need to worry about reminding your students at the end of each subscription period; Moxie takes care of charging them automatically.)
Finally, set a sales target. Think about how many subscriptions you need to sell to feel comfortable with your monthly income. Aim for that—this gives you a metric to track and keep you motivated.
Become a Video Star
Who doesn't want to make money while they're sleeping? In the fitness world, that translates to building a robust video-on-demand library and charging for access. Many students prefer video on demand due to life's unpredictability (think: new moms, working parents, or students outside of your time zone.) You can also use a video-on-demand subscription as an alternative to your live classes if you're on vacation or need a break.
Setting it up:
On Moxie, all of your live classes get automatically added to your video library. There's no need to download, upload, and worry about hosting.
To start charging for access to your fitness videos, you need to enable the Video on Demand feature on your Moxie profile. Get step-by-step instructions here.
Then, you'll need to create a VOD-only subscription. With VOD-only subscriptions, students aren't getting the one-on-one feedback that comes with live classes. So, offering a discount is a good idea. Consider how many new classes you'll be adding to your library every month, calculate the price they'd pay for each, and factor in a discount of 35% or so.
Promotions and Subscription Deals
Sometimes you want to create a secret deal or discounted package and control who can purchase it. Moxie gives you the ability to do that with hidden subscriptions.
Let's look at some scenarios where you could use hidden subscriptions.
You want to grandfather in existing clients at a lower subscription price. Use hidden subscriptions to lock one set of clients at a lower rate while showing a different price on your public profile. Simply hide the subscription you want to make available exclusively to a particular set of clients. Only people with the private link to a hidden subscription can see and purchase that plan.
- Set your monthly subscription to $100.
- When you are ready, hide this subscription and share the private link with existing clients.
- Then, create a new monthly subscription for $125. This one will be visible on your profile.
- Your existing clients will continue paying $100, while new subscribers will pay $125.
You want to create a special promotion for the New Year. January is known as the Super Bowl of the fitness industry. People are making resolutions left and right, and that usually includes a renewed commitment to being healthy. Help them by creating a special New Year's membership.
- Create a hidden subscription and share the link on social media, through email, or even with your WhatsApp group!
- At the end of the month (before it renews), delete the subscription and encourage those subscribers to sign up for your regularly-priced membership. You may also change the subscription price, but we recommend that you notify your subscribers before doing that.
Get Them to Commit
You've set up your subscriptions; now you need to promote them! If you notice that you have repeat students, encourage them to sign up. An easy way is to mention it in the cool-down room, "Don't forget to sign up for Yoga Flow on Wednesday—and check out my subscription options! They will save you a few bucks each month."
Broadcast it on social media. It's helpful to publish your weekly schedule each week. Don't feel bad breaking down the math. For example, "Commit to your health this month. If you do two fitness classes per week, you'll save $50 a month by signing up for my monthly subscription plan." See some of our favorite examples of social media posts here.
Need more help setting up subscriptions? Read all about subscription types and tiers.