Before I begin, IÂ 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 youâre being paid well, youâll deliver a better product (or whatever word you want to use).
Now that thatâs out of the way, letâs talk about pricing your retreatâš
Iâve talked to many teachers whoâve said that they broke even on their retreat, lost money, or just didnât make as much as they wanted. IÂ get it! Iâve been there and dealt with that struggle myself and itâs taken a lot of experience and training to figure out how to price my retreats.
âđŒ Knowing who youâre selling to is key- as is taking into account all of the âbase pricesâ.
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 thereâs 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 youâve 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 Iâd 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.
đđŒThereâs actually a lot of marketing research done on what numbers are psychologically pleasing to the eye and in peoplesâ minds. Are you more willing to buy something thatâs $2.10 or $1.97? Theyâre essentially the same amount but one is more appealing to buyers.
Sound like a lot? It IS and thatâs why IÂ like to help take this whole process off peopleâs 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, letâs hop on a call and start planning your next retreatđ«