Tips to make money— even during hard times
In this post, I’ll cover the following:
How to get clients to book appointments with greater frequency
How to make passive income in the wellness industry
Tips for spending less and saving more
Times are hard for a lot of folks right now. Between increased grocery prices and supply chain issues, running a business– or just getting by– can be tough. And no matter where you are on the political spectrum, this is not about politics.
This is about how challenging it can be to get clients to book a session with you (be it a massage, mental health, acupuncture or other wellness appointment), when your services can be categorized as a “luxury item” or non-essential spending.
I’m definitely one of those people that is feeling the pinch right now.
I’ve cut back on a lot of superfluous spending. I’m dining out a lot less than I used to and cook from home almost every day. I often bring leftovers to work instead of buying an expensive sandwich. I don’t take myself out for coffee nearly as much as I used to. I haven’t bought myself any new clothes in at least half a year. I bargain shop for groceries.
I cut out “special” spending on things like voice lessons (I’m a singer) and try my best not to splurge on any one grocery item, though I am fairly committed to eating organic fruits, vegetables and dairy products as much as possible.
I’ve even significantly cut back on the glass of wine I used to enjoy most nights, not only for health reasons but also because, all things considered, alcohol really is a waste of money!
Sadly, I’ve even cancelled some of the charitable giving I was committed to, but have kept giving to a few of the important organizations that matter most to me.
And, as crazy as this might sound for a massage therapist to say, I no longer pay for massages, but only do trades. Even though I do my best to prioritize self-care, I just don’t want to pay for bodywork right now, when I need my money to go as far as it can.
All that said, the single most significant thing I’ve done this year to cut back on spending and increase savings though, was to read the book, “You Need a Budget” and create a money plan using their innovative (and life-changing!) system.
I use both their app and web-based platform daily to track all my spending and savings. It has truly made all the difference, and if you’re interested in really getting a hold of your spending, I highly recommend checking it out.
Even with all that, things still seem tight. Cost of living is high. Grocery bills sort of blow my mind. Rent is just insane.
Surely, I’m not alone in feeling this way, and it seems a lot of my regular massage clients are tightening their spending as well, because I don’t’ see them as much as I used to. Even after ten years in the business, I’ve had to find ways to get creative about how my practice is running.
During these times, wellness practitioners frequently ask themselves:
“What can I do to get clients to book with me again?”
“How can I make passive income, or supplemental income, when times are slow?”
I feel you! Let’s dive in and start with the first question! :)
Here are five main things you can do to increase the likelihood of clients booking a session with you.
1- Create a membership program.
By allowing clients to sign up for a membership with your practice, you can receive steady income, knowing the exact amount you’ll bring in each month, and allow your clients the feeling that they’re special and getting a discount all at the same time. (Memberships obviously don't work well for mental health practices, but do for a lot of other industries, like massage, acupuncture, spas, etc).
There are a lot of options for how to make memberships work and feel attractive to your clientele. You may offer a slightly discounted rate, offer priority booking, a discount on certain products or specials, or all of the above. For more details on creating a membership, check out this article.
2- Offer discounted rates for packages.
The other thing you may want to consider is offering discounts for packages. These are quite popular at my studio. I offer $10 off per session if someone buys a four-pack of massages up front.
The client is happy to have a small discount (it could be a bigger discount, if you wanted it to be a really attractive, affordable option!) and I like having a small chunk of funds up front if need be. The client is encouraged to use the four-pack within one year of purchase.
3- Simply ask, “would you like to book another session?” at the end of their appointment.
This might sound too simple to be true, but it really works! Sometimes clients just need a soft nudge. Let them know that booking a session now ensures they have a spot on your calendar saved instead of waiting until it’s too late and your schedule is full.
You can gently encourage them to prioritize self-care and not let things wait until they’re at a critical level of pain or discomfort. Don’t worry about making a sales pitch or being pushy. Just offer it in a kind, compassionate way and if they don’t want to schedule again at that time, no worries.
4- Consider offering “sliding scale” rates for those that might be experiencing financial hardship.
Decide what rates feel comfortable to you and how many of the reduced-rate sessions you want to offer per week or month. You don’t have to collect any personal financial information from your clients, you can just use the honor system.
One thing that has worked really well for me in the past few years is offering a sliding scale rate to my clients, while simultaneously increasing my regular rates. It seems to balance each other out, since far fewer discounted sessions are booked than regular sessions. I set a range that I’m comfortable with offering, and list the rates in my service description.
I also let people know in the service description that I only offer a limited number of sliding scale sessions per month, so if I’ve already reached my quota, we’ll have to reschedule them for the following month. The system has worked quite well, and allows people who really need bodywork to come in, while most folks book my regular-priced sessions. I have never experienced someone abusing the rates and everyone expresses deep gratitude for the offer.
5- Become an approved provider under insurance.
This can be a lengthy process, starting with getting an NPI (National Provider Identifier), registering your business, being fully licensed and insured in the state you live in, and obtaining a federal tax ID. From there, you need to determine which insurance company or companies you want to participate with.
If you’re interested in being reimbursed through insurance, you may want to start with this checklist. Many mental health therapists are covered by insurance and it’s an excellent way to get and retain clients.
Now, moving along to a hot topic these days: passive income and supplemental income streams.
These can be used during acute moments of financial strain, or just bring in some extra cash for your margarita fund over the long term.
1- Sell products online and/or at your office
This could be lotions you love using, products you recommend to your clients, self-care implements related to your practice, or just things you really like! If you have a waiting room or even just space enough for a table or shelf at your practice, you should definitely consider utilizing that area with items that would benefit your clientele and your wallet!
Similarly, your website can be a place to sell a few relevant items, such as lotions, pain relief salves, essential oils, nutritional supplements, etc.
You can buy the items in bulk or at wholesale price, then offer them to your clients at a higher price, which they’ll pay since it’s being offered from a trusted source and at a convenient time (they’re already at your practice and/or on your website).
2- Sell courses or classes online
While this type of offering does take quite a bit of time to set up initially, once you’ve done the heavy lifting of creating the course, you can have it collect income for you spanning decades! You’ll need a good videographer, organized and clear content, and of course, a platform to post it on. A lot of folks use YouTube these days, which is free, but you can gather viewers and subscribers there and funnel them to your website, where you can sell exclusive offers such as in-depth coverage of certain topics they might be most interested in.
Another idea is to sell video courses for clients who may want to learn something you’re skilled at from the comfort of their own home. Let’s say you’re a massage therapist. You could make video content with five simple head and neck massage techniques regular people can do at home.
Sell the video to all your massage clients for $25 (what a bargain!) and let that slowly bring in money over time!
3- Consider working a part-time job that you love.
Think dog walking services, house sitting, or whatever brings you joy but also brings in some extra cash (can you make salves, lotions or decorative crochet wall hangings?). Maybe you can even sell these products at your studio or online!
Alternatively, do you have some amazing random skill that you can monetize (play in a band, organize people’s closets or clean houses)? If you can’t think of anything like that, you could always try your hand at Uber, Lyft or DoorDash. You’ll make a little extra money while taking a break from your practice.
4- Write a blog and/or newsletter for your website, and create affiliate links that pay a little money to you to refer their business to others.
A lot of companies will pay a little bit of money each time you funnel someone to their website and encourage someone to purchase their product. You get a small percentage of that sale just by referring out to them! This is can be a real money-maker for some, or just bring in a few extra bucks every month.
Experiment with businesses in your sphere and see who wants to work with you as an affiliate!
What’s the common thread with all the above income streams? Most of them require an strong online presence (aka an excellent website).
If you love these ideas (and love the thought of making money without lifting a finger!), consider working with a web designer who can build you a powerful website.
I may just know someone (ahem).
To learn more about the web design services we offer, take a peek here.