Create packages of products and services

For most new small business owners, such as coaches, it can be complex to create their own products or services. It's clear that as a coach, you don't stand much chance of creating industry innovations, unless you invent a completely new diet or strategy that didn't previously exist.

This is where product and service packages come in, an aspect that individualizes us as coaches and attracts clients. Usually coaches tend to offer only services, as very few have any published books or other types of products to offer. And even if they do offer such products, they always try to accompany them with a package of services.

That is why in this topic we will try to focus more on the creation of service packages, because if you already market some kind of product you should know how to conduct a market study and calculate the manufacturing costs.

How to create service packages?

The most important thing to be able to create these packages is to keep up to date with the demands and take pertinent actions in the face of new trends. To create your coaching packages in a simple and uncomplicated way I advise you to do it by answering these questions:

• What should I include in my coaching packages?

• What should I price them?

What should I include in my coaching packages?

Let's start by answering the first question to narrow down what we should put in our packages. Before you can answer the question, you must know your target client. You must know what are the specific needs and issues that you can help solve.

Of course, before putting together your packages, it is also essential to research the competition to see what they offer, especially their service packages. You should also do an analysis of the coaching industry in general, and look at the status of other coaching companies.

You should review all the services, products and packages they offer, as well as their designated pricing. It is much more didactic to learn through examples, so I have included one for you.

Examples

Alex has a health coaching company and his niche market is the ketogenic diet and intermittent fasting. He determined that his target audience would be both men and women with an interest in decreasing their body inflammation and losing weight for good. In addition to these clients being relatively knowledgeable about various types of diets, as they have tried to implement some of them, without reaching their goals.

Alex's target clients also exercise regularly, using different ways and methods of exercising. In addition, they have a fondness for cooking, so they will be more likely to learn. Their age range falls between 40 and 65, they keep working and have an active family life. Alex then created some packages focused on these customers.

The packages he created he made for people who require some guidance and someone to hold them accountable for their progress. But who prefer to do most of the work themselves. They don't have much interest in the trainer being with them all the time guiding them through every part of the process. What they want is a type of diet that works and to try it on their own.

Package A: The package then includes a preliminary consultation of up to 2 hours in which they will focus mainly on health aspects, medical problems and the main motivations and goals to be achieved.

Subsequently, the first nutritional assessments will be carried out at the client's home or at the company's offices and subsequent meetings will be scheduled to review them.

In addition to this, Alex included in the package a basic kit to start with the ketogenic diet. This details a group of foods to stay away from and a list of healthy foods to start with. It also helps them set up an app on their phone to optimize their eating and exercise schedules.

It also gives them a list of supplements and tools to achieve their goals. Also included in the package are small sessions of up to 30 minutes, by phone or online, to adjust as needed. In these sessions the coach will answer any questions the client may have and try to get them to where they should be according to their training.

To complete the package, each client who purchases it will have access to the business's private Facebook group. The program has a minimum duration of 3 months, as Alex considers that this is the minimum time necessary to obtain concrete results. After these 3 months are over, a re-evaluation consultation will take place, so that the client and the trainer can decide if they should continue with the same package for another 3 months. Or the client considers that he/she already has all the necessary knowledge to continue on his/her own.

The package comes with a cost of $200 per month and we will see how to price your packages when we answer the second question.

Package B: The second package that Alex creates also includes the first preliminary consultation with the nutritional evaluation. The difference with the previous one is that in this one, a first physical evaluation will also be included. This physical assessment will not take place in the first consultation, so in this one we will discuss other issues and schedule the assessment for a week from now.

A demonstration of a fitness class has also been included, so this package focuses a little more on training. In this one there are classes on toning, stretching and mobility exercises that can be done at home. The demonstration would be planned after the preliminary fitness assessment, and customized specifically to meet each client's particular needs.

Alex also adds the same from the previous package including the list of foods to avoid and to use. Also the recipes for the ketogenic diet that are simple. And the intermittent fasting method with a detailed guide.

Unlike package A, this package offers private consultations twice a week by phone or online, and if the client lives nearby, in person. And it ends with including in the package, as in the previous one, the access to the private group to the Facebook group.

This package has a duration of 3 months and comes with a cost of $500 per month.

Package C: The last package offered by Alex contains, just like package B, the preliminary consultation, the nutritional assessment and the first fitness assessment. But he adds to all this up to 3 hours of fitness lessons per week. During the 3 months of the program, the trainer will work privately with the client, starting with mobility exercises, stretching, to which core strengthening exercises will be added later, taking into account the client's progress.

These sessions will be in person with the trainer for better attention and personalization, and to be able to make corrections more adequately depending on the client's needs. It is also included in this package, the advice to customers in the process of purchasing the products and during the preparation of the recipes provided during the program, as long as it is planned in advance.

Alex adds to this package the ketogenic diet, in a way that new recipes will be added gradually to get more value for each recipe. Follow-up sessions will be held at least once a week or depending on the client's needs. Not only will the recipes be taught in a didactic way, but they will also be demonstrated in a practical way once a week.

The C package also includes a step-by-step guide on how to perform intermittent fasting, and the coach will be available when needed. You also have unlimited access to all fitness courses and the private Facebook group. Just like the previous packages, this one will have a minimum duration of 3 months for a cost of $1000 per month.

What price should I put on them?

The above are 3 examples of basic packages that you can use as a model to create your own. Now we must answer the second question and decide what prices to put on our packages.

To answer this question we need to have a general idea of how much other coaches charge for their packages. To find this out you can do a Google search using keywords like coaching, prices, coaches, coach salaries, coaching package prices.

Through your search on many websites you will notice a large group of coaches online, who all charge different prices for their services. In this way you will be able to average the cost of all services offered by professional coaches. Here are some examples that you can find during your search.

Coach charging $99 upfront for a session, followed by $199 per month for month-to-month engagements.

A coach who charges between $50 and $120 per week depending on the package, equivalent to a monthly cost of between $200 and $480 per month for month-to-month engagements.

Another coach charges $300 per month with a minimum commitment of at least 6 months. The above coaches have common characteristics among them, which include that they offer 2 sessions per month with a duration between 45 and 60 minutes each.

Here are some general facts to give you an idea. Most new coaches start out charging an average of $50 to $75 for their sessions. More experienced coaches prefer to charge between $100 and $200 per consultation. There are also coaches who charge between $1,200 and $2,000 per package.

In general, there is a great deal of variability in price adjustment by coaches. The more specific your niche market is, the more you can charge. Now that you have seen the average values that coaches charge in the marketplace, you can get a much better idea of what people are willing to pay for coaching services. The main thing to appreciate the cost of your sessions is to know your target audience and the value they bring.

Knowing the perceived value

One of the main elements I want you to take away from this topic is to have a good understanding of the perceived value of your services. If, for example, you spend $1,000 to develop a product or package that you are very proud of. But your target audience only estimates spending up to $150 on it, the perceived value of your package is well below that estimate and is not worth investing in.

This concept applies to any type of business, no exceptions. You should also keep in mind that if, for example, all coaches in your niche market charge an average of $250 for their services. And you think that charging only $75 will attract clients to your services, you are wrong. What is likely to happen is that clients will distrust your services and questio