Before I begin, I want to acknowledge that leading retreats is about so much more than making money, but the truth is also that retreats require a lot of physical and mental output and most teachers want to be paid for their time. Plus when you know you’re being paid well, you’ll deliver a better product (or whatever word you want to use).
Now that that’s out of the way, let’s talk about pricing your retreat✨
I’ve talked to many teachers who’ve said that they broke even on their retreat, lost money, or just didn’t make as much as they wanted. I get it! I’ve been there and dealt with that struggle myself and it’s taken a lot of experience and training to figure out how to price my retreats.
☝🏼 Knowing who you’re selling to is key- as is taking into account all of the “base prices”.
Your base prices are things like food, lodging and shuttle service. You also want to consider extra expenses like included excursions, tips, gift bags, early bird specials, your travel. Then there’s always unexpected costs that pop up- taxes, transportation to excursions, price increases of services, off-campus meals, more tips and the list goes on.
THEN, once you’ve nailed down those numbers you want to consider what YOU want to make off the trip (my minimum is $10k). I like look at what I’d like to make if I only have the minimum amount of people needed, I look at the numbers for what I realistically think will come, I look at numbers for what I WANT to come. Then consider your clients- are they affluent? Are they a younger crowd? Middle class?
Then you can start to play around with numbers.
🙌🏼There’s actually a lot of marketing research done on what numbers are psychologically pleasing to the eye and in peoples’ minds. Are you more willing to buy something that’s $2.10 or $1.97? They’re essentially the same amount but one is more appealing to buyers.
Sound like a lot? It IS and that’s why I like to help take this whole process off people’s plate. When you work with a retreat planner, you get to work in YOUR zone of genius and I get to work in mine to help you create a retreat that is carefully planned so you can show up and simply be present with your group.
Fall 2024 dates are filling at international venues, let’s hop on a call and start planning your next retreat💫