Why I Have a Problem With Black Friday Sales (or Any Sale on Your Services)
As we approach the holiday shopping season, I know that there is a lot of noise out there for business owners.
“You need to make a Black Friday sale!”
“A big sale is a great way to flood your business with cash before end-of-year!”
“Your customers expect a Black Friday sale!”
While some businesses may benefit from a Black Friday sale, I’m going to disagree with these sentiments for service-based movement, fitness, and wellness businesses. Here’s why…
Reason #1: You’ll eat into your profit
Let’s start this with an example:
Let’s say a yoga instructor offered 10 yoga classes (usually $500) for the price of 7 classes ($350). Sure, they might get more people in the door with that deal, but what’s happening to their bottom line?
That’s $150 less per person to pay studio fees, pay instructors if there are any, pay taxes, etc....