Yes, your existing clients can continue paying your old rate after you raise your prices, depending on how you choose to handle it. Here’s how you can approach the situation:

Communicate Clearly with Your Clients

The first step in navigating a rate increase is to communicate the change clearly to your existing clients. Let them know when the new rates will take effect and how it will impact their payments moving forward. Clear communication helps maintain trust and ensures your clients feel valued during the transition.

Honor the Old Rate for Existing Clients (Optional)

One option is to allow your existing clients to continue paying the old rate for a set period, such as until their current package or agreement expires. This can be a gesture of goodwill that acknowledges their loyalty. By providing this option, you give your clients time to adjust to the new rate while continuing to enjoy the same value they’ve been receiving. Make sure to communicate any deadlines or terms for when the old rate will no longer be available, so there are no misunderstandings.

Offer a Transition Period

If you’d prefer not to lock in the old rate for an extended period, you can offer a transition period where existing clients can pay the previous rate for a limited time before the new rate kicks in. This gives them some breathing room while still respecting your need to increase your fees. A reasonable transition period can help keep clients happy and prevent them from feeling caught off guard by the change.

Ensure Transparency in Payment Terms

Regardless of how you choose to handle the rate change, make sure to outline any new payment terms clearly to your client. Whether you’re honoring the old rate for a time or applying the new rate immediately, providing an agreement via our messaging system will ensure that both you and your clients are on the same page. This step helps to avoid any confusion and ensures a smooth transition for everyone involved.

Build Long-Term Client Relationships

While raising your rates is a natural part of growing your coaching business, it’s important to maintain strong relationships with your clients. Be empathetic and understanding about their concerns, and be open to discussions if they have any questions regarding the rate increase. Providing excellent service and demonstrating your value will help clients feel confident in their decision to continue working with you, even at a higher price point.

In the end, how you handle a rate increase with existing clients is a personal decision, but clear communication and respect for their loyalty will go a long way in maintaining a positive coaching relationship.

To ensure you have proper communication with your client regarding package deals, utilize this article: How do I contact a client?

To understand the platform’s terms of service, which would include any guidelines on package deals, review this article: Where can I find the Athletes Untapped Terms of Service