The additional cost pricing strategy includes the cost of setting up and running a workshop and the profit margin, or the percentage of profits you want to make. For example, if you want to make a 30% profit, you add 30% to the cost of a workshop to get the final price. This strategy is best suited for one-time workshops. It allows you to cover all costs and safely make a profit.
The main question here is what percentage would be fair to both you and your attendees. A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to maximize profits and shareholder value, taking into account consumer and market demand. Your time and experience are more important than fixed costs when determining the price of your online course.
How long did it take to develop the course? How many hours did you spend recording the lessons, creating worksheets, and creating resources for the course? Now ask yourself two questions. Free courses are a great tool to help boost business and get people interested in the content you offer. A free course or sample lesson can also serve as a testing strategy for something you plan to develop or further develop as a paid course later on. If you're just starting to cultivate your audience, a free course can be a good starting point for building a customer base.
