Pricing Consultation (Kids)
As a result of the pandemic - our kids class ratios have changed and our old pricing structures are no longer fit for purpose. As a result I want to chat to parents about how we expect to change our pricing structure moving forward for kids classes. Kids class pricing is difficult as we've classically run classes cheap and busy. But I don't think that's the best pricing model for the pandemic moving forward. On the other hand - I don't want to price out any parents who are often struggling and looking for a cheap way to entertain their children. Parents often ask us about cheaper ways to book classes and they often ask about getting discounts for block booking and sibling discounts. Others comment that our classes are cheap and they'd be happier to pay more. We want to create a model where we can provide cheaper classes for those who need it - no questions asked.
These changes are expected to take place in January 2021.
Base rate and Discount rate
Instead of having a single rate of £6/hour I propose we now have two rates: £8/hour and £6/hour.
£8 will be the standard cost for each class (£12 for 90 minute classes). But all customers will have the option to pay £6 (£9 for 90 minute classes).
The discount rate will be entirely voluntary and we will recommend that people use the discount rate in the following situations:
- They are looking to buy in bulk and would like cheaper classes
- They would like a sibling discount
- They are low on funds and would prefer to pay the cheaper rate.
We will therefore sell the following:
£6 single (discount)
£80 for 12
£60 for 12 (discount)
£9 single (discount)
£120 for 12
£90 for 12 (discount)
The main use of the increased income will be to boost coaches salary. We think it's important that we pay the coaches a fair wage and the price increase will allow us to improve their quality of life.
Please give me your thoughts and feedback on any of these ideas. I want to create a fair pricing structure for everyone involved and am open to changing and developing a pricing model that works for you.