Pricing your fitness package in Singapore
Adopting the right pricing strategy is instrumental to the success of your fitness business. One way to ascertain the value that you are providing, is to benchmark against similar offerings by other businesses and studios, to understand how they are pricing their fitness trials classes and packages. You might be wondering, how much do other studios price their packages? In today’s blogpost we break it down for you.
To put out a disclaimer: the prices we have listed below are referenced to some of the clients on our vibefam app as well as other studios in Singapore. Ultimately, prices reflect the value that your business brings to your members, so while a benchmark may be useful for reference, it is critical to find the sweet spot that reflects the value of your service.
Trials are single classes or small package classes for first-time students of a studio/instructor where they do not have to sign up as a member. The pricing of trials is important as attracting students to trials plays a substantial role in increasing conversion rates to members if these students enjoy the classes.
On average, these are some trial class prices across different types of fitness offerings in Singapore. It is interesting to note that dance studios in Singapore do not have dance trial classes as they operate on a drop-in / open class basis.
Yoga is typically one of the more affordable types of fitness classes due to the minimal equipment and space needed. Yoga classes conducted outdoors or online could also sometimes be more affordable compared to in-person indoor Yoga classes. For the same reasons, HIIT/Bootcamp classes are also more affordable and the average for trials are around the same price points as Yoga classes. You can check out Yoga in the Park for outdoor yoga classes and The Daily Movement for outdoor bootcamp classes on the vibefam app!
On the other hand, Pilates typically have a higher price point than Yoga classes. Pilates certifications typically require more time and money to obtain, which could explain it’s higher price point in the market. For a similar reason, martial arts tend to have higher price points being a highly progressive and technical fitness type. Reformer Pilates as an offering is also definitely more expensive than normal Mat Pilates as the reformer is a very complex piece of equipment that incurs more costs.
Classes – Drop In
Drop-In classes are single classes. It differs from trials as it can be repeatedly booked even if students are not first-time visitors of the fitness studio. They are typically more expensive than Trial classes.
Dance classes are more affordable when they are regular dance classes as compared to dance classes that incorporate fitness routines like jazzercise and zumba. This is because specific certifications could be needed.
Martial arts classes pricings are quite specific based on the instructor and the different types of martial arts. Hence while the above is an estimated average price, do note that prices do differ with large margins between studios and the type of martial arts.
Packages are where students buy a bulk number of classes at a more affordable overall price per class. The price per class is usually priced substantially lower than drop-in classes to encourage customers to go for purchasing class packages instead.
The sale of class packages provides more cash inflow upfront for studios.
For Yoga/Pilates and HIIT/Spin/Bootcamp, it is popular to have 10 class, 20 class packages. Spin studio packages can even go up to 100/200/300 class packages meant for sharing. Sharing packages are used as a pull factor for customers by a lot of studios. Being an important pricing strategy, vibefam enables sharing packages to be sold on our booking platform, allowing you to further amplify your community narrative.
For Martial Arts, it is very variable and a lot of them typically offer month-based passes for unlimited classes or term training instead of packages.
It is also common for packages to have student discounts. For example, Elevate Fight Lab offers more affordable pricing on packages and passes for students and NSF, check them out on the vibefam app!
There is a wide range of prices for different fitness classes available in Singapore. When pricing your fitness studio product offerings, it is important to think about different factors that come into play. Consider the types of customers you are targeting and their purchasing power, your studio’s branding and the accessibility level that you want your classes to have. It is also important to ensure that your pricing allows you to make enough to make profits and retain customers.
At the end of the day, pricing is highly value based, so it is important to exercise your own discretion!
This article was written by Kwok Shu Ning.