In this episode, JP Levesque discusses the critical role of pricing strategy in maintaining a sustainable business. He emphasizes the need for business owners to evaluate their pricing in relation to their operational costs and the potential impact on student retention. The discussion highlights the balance between affordability for customers and the necessity for businesses to ensure their long-term viability through appropriate pricing adjustments.

Takeaways

If your prices are too low, you're breakeven.

Raising prices can significantly increase revenue.

Consider the impact of price changes on student retention.

It's important to balance affordability with business needs.

Long-term sustainability requires regular price evaluations.

Evaluate your roster to predict who might leave after a price increase.

Shit is expensive; businesses need to adapt pricing accordingly.

Pricing strategies should reflect the realities of operational costs.

Don't price people out of your service; find a balance.

Regularly assess your pricing to ensure business longevity.

If you want to learn more about how I help academy owners grow their business without becoming Mc Dojos head on over to www.GrowJitsu.com and book a demo.

PS. There's also a free Ebook I wrote to help academy owners grow their business - https://growjitsu.com/book