Why Hypnotherapists Should Raise Their Rates
Posted on September 8, 2008
There is no reason any competent hypnotist shouldn\'t be making a six figure income. There are only 2 reasons I see that keep Hypnotherapists from making $100,000 a year and both are easily solved:
- \r
- Lack of good marketing\r
- Not charging enough\r
The second reason is extremely important, because even with the best marketing systems in place, if you are only charging $35 or $45 a session, you\'ll have to kill yourself to make $100k/year.
And honestly, $100,000 is not much money these days. Subtract your business expenses and what you owe in taxes, and there isn\'t much left over, especially if you have a family to feed. A recent survey in the San Francisco area showed a family of four needed over $87,000 just to get by. $100k isn\'t much money any more.
Do The Math:
Even if you work 6 days a week, you couldn\'t see clients constantly during the day. You need administrative time, accounting time, etc.
So let\'s assume 6 hours a day you can see clients and a 5 day work week. And allow 2 weeks for time off, conventions etc.
50 weeks x 5 days/week x 6 hours/day = 1500 hours you can see clients.
$100,000 / 1500 = $66.67 per hour
So to make 100k/year you would need to charge $67/hour. This assumes you actually get all 1500 hours booked.
Now for a reality check... unless you have a staff to handle phones, email, paperwork, paying bills, dealing with vendors, etc. etc. you\'ll be luck to get 6 hours a day of client work in. AND it assumes you have a constant stream of new clients too.
And there are sick days to be factored in, plus family emergencies, continuing education, and... you get the idea.
So let\'s assume 75% of hours booked
1500 hours x .75 = 1125
now to make 100k/year it\'s
$100,000 / 1125 = $88.89 per hour
Now let\'s take out 2 weeks extra time for sick days and continuing education.
$100,000 / 1045 = $95.69 per hour
The point... if you aren\'t charging at least $100/hour for your time, you will struggle to survive in this business. And with all the good you do in this world, don\'t you deserve to live well?
I think you do.
Life is short. Dream big. Start now!
Craig Eubanks is a Direct Marketing Strategist, Copywriter, and publisher of over 80 articles, podcasts and videos at HypnosisMarketingTips.com
He provides more advertising tips, marketing tips, and information on how to get more clients for your Hypnotherapy practice that you can research in your pajamas on his website.
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