How to Price as a Corporate Training Provider
- Course development costs
- Travel expenses
- Instructional time
- Materials printed
As a corporate training provider, pricing your training classes can be a challenge. You want to ensure that your prices are competitive and accurately reflect the time and effort spent developing and delivering quality training.
Here are some factors to consider when pricing your corporate training classes:
Time spent on course development
The first factor to consider is the time spent on course development. This includes researching the topic, creating the course outline, and developing the training materials. Course development is an essential part of the training process, and it’s important to consider the time spent on this when determining your pricing.
Time spent traveling
If you are providing training in person, you will also need to factor in the time spent traveling to and from the training location. Include the cost of gas, tolls, parking fees, and other travel expenses.
You will also need to factor in the cost of any materials printed for the training, such as handouts, workbooks, and other training materials. This can include the cost of printing, paper, ink, and any other expenses related to producing and distributing the materials.
Finally, you will need to consider the time spent delivering the training. This includes the time spent teaching the course, answering questions, and providing feedback to participants. It’s important to consider the amount of time that you spend on each training session, as well as the number of participants in the class.
Once you have a good understanding of the costs associated with developing and delivering your corporate training classes, you can begin to determine your pricing. Here are some pricing strategies that you may want to consider:
One common pricing strategy is cost-plus pricing. This involves adding a markup to the total cost of delivering the training to arrive at the final price. For example, if your total costs are $1,000 and you want to add a 20% markup, the final price would be $1,200.
Another pricing strategy is value-based pricing. This involves pricing your training based on the value that it provides to your clients. For example, if your training helps to increase productivity or reduce turnover, you may be able to charge a higher price than if your training is simply informative.
You may also want to consider a tiered pricing strategy. This involves offering different levels of training at different price points. For example, you may offer a basic training package at a lower price point, and a premium training package with additional features and benefits at a higher price point.
In conclusion, pricing your corporate training classes requires careful consideration of the costs associated with developing and delivering quality training. By understanding these costs and adopting a pricing strategy that is fair and competitive, you can ensure that your training is accessible to your clients while also ensuring that your business is profitable.