What up and namaste to my Yogi's, my sisters, my brothers, and all my conscious entrepreneurs out there working to make their passion their paycheck. I'm Adi Shakti, the six figure yogi, and I have been sent to elevate and empower you. I bridge the gap between old school big business secrets, and your new paradigm creation. Consider me your hippie business strategist and your new best friend. Be sure to head over to SixFigureYogi.com, that's S-I-X FigureYogi.com, for your free online marketing and conscious business growth E-Course with yours truly. Grab your Kombucha, turn down your grateful dead, and get ready to take notes.
Namaste and welcome, this is Adi Shakti the six figure yogi, I hope you all are having a beautiful day. I am here in Costa Rica, we just finished with one of our 200 Hour yoga teacher training empowerment courses and I'm on a brief break here before we head to Chicago for a baby shower, and then off to Nairobi. My husband and I are doing a safari, a photo safari of course and so I have a few days of stillness here so it's been really nice to enjoy. Today I want to talk to you a little bit about retreats. I've been getting a lot of questions from many of you about retreats, and just how to go about beginning to organize them, how to price them, and things of that nature. I'd just like to move into some of that with you now.
The most important thing that I think is important to mention is that you need to make sure that whatever retreat concept you're putting together is actually desired by your community. It's important to test the idea before you move forward in launching something that might not be of service to the people that you're meant to serve. A great way to do that is by blasting out a email to your list, or making a post on social media, or doing something just to make sure that what it is you're putting out there is even a good idea. Maybe you're issuing a survey to see where exactly people are interested in doing the retreat, so you want to ask your community. That's an important first step.
Then once you have an idea of what it is that you're going to offer, there are steps that you need to take of course to start to move forward in that direction. You want to think about the location of the retreat, you want to think about timeline, and price point. All of these are going to have to do with your target demographic. If you're targeting college students for example, you're going to need to make sure that the retreat falls on either a major spring break timeline, or in the summer. If you're targeting moms you know the summers probably not best because they're going to be busy with their kids, and it's going to be more difficult for them to secure child care. You just want to kind of think about and know your target demographic, speak with your target demographic and that be the first step before you move forward in launching the retreat.
Once you have an idea of when and where you want to do the retreat you of course want to do the background research on climate, and all of those things just to make sure it's even a good time to be visiting the place that you're going. Of course in low season, or, "Green season," we call it here in Costa Rica, things are going to be cheaper. Depending on your demographic, airfare, lodging, everything's going to be a little bit cheaper during those off season time frames. I always enjoy leading programs during what we call, "Shoulder season," which is kind of the month before or after high season because the weather is still great, but I am getting a break on negotiations, and I have a little bit more buying power in that time slot. That's something to think about as well.
Once you have the location, you have the dates, you're sure that works for your community, you also have your topic that is super niche and specific, nobody wants to go ...everybody wants to go on a yoga retreat in Costa Rica, right? There are so many of them, so really getting really specific about what it is that you are offering, and speaking very loudly to your target demographic, and choosing the topic of your retreat or what exactly it is that you'll be doing throughout the context of the program to really set yourself apart from the rest of the competition, those people leading programs in a similar area, timeline, price point, all of that.
You have, you know the generals, you know what it is that you want to offer, and then you are reaching out to lodges, most specifically is the next step for people that are interested in leading a program like this. It can be a good idea, and I personally don't like leading programs if I haven't actually seen the center. That's something beautiful about being a freedom lifestyle yoga entrepreneur is I can actually business expense these trips to do these, "Sight inspections," we call them in the industry. You're going and you're doing your sight inspection, you're checking it out, you are making sure that it matches your needs, you're making sure that you like it, that you want to spend time there, that you think that your clients would be happy there, or you're just reaching out online. That's another possibility, just having communication with the management, making sure that your vision is in line, that communication is easy, all of these things are going to be indicative of how the rest of the program is going to go.
What you do is you layout the expectations. Are you including meals, are you including transport to the beach, are you including airport pickup, are you including a surf lesson, are you including a massage? What exactly is it that you're including, and what is it that you're expecting the lodge specifically to provide? You're making a very specific list out, and then you're giving that to the lodge and they're able to prepare pricing for you at that point. The pricing on their end very often times is going to be a tier pricing, which means that if you have zero to six people this is the price per person, if you have seven to such and such then this is the price per person.
You want to take a look at that tier pricing, and make sure that it works for you, and that it's actually a price point that you are confident that you can pad with the other expenses that we'll talk about here shortly, to actually make this viable for your target market. Kind of depending on the income bracket, or who exactly your specific demographic is, that's important. You'll have that number from the lodge, and then there are other pieces of course in the pricing puzzle that we will talk about after the break.
Namaste, this is Adi Shakti the six figure yogi, and I am so excited to announce today that the empowered goddess, a modern business seminar for the awakened woman is now open. We will be covering how to make more money and amplify your spiritual impact. This program is for you if your wild soul burns to serve, you are ready to increase your impact and expand your reach, you are fiercely committed to fine tuning your business, you want a proven professional framework design to attract more of your ideal clients, or you offer a service out in the world and are ready to cut through the mysteries of online marketing, branding, the art of paid advertising, and traffic generation. We are going to have a phenomenal group of women here in Costa Rica in March of 2017. If you'd like more details on that, go ahead and visit the website at SixFigureYogi.com and click on the empowered goddess seminar. Thank you so very much and I look forward to seeing you down in sunny Costa Rica.
Namaste, welcome back. This is Adi Shakti the six figure yogi. We just talked about getting that first figure from the lodge, and then after you have that figure you want to start to figure out what exactly it is that you are wanting to make on the program. I would say the industry standard and most of the teachers that I've worked with are making anywhere between like two and five hundred dollars on a retreat per person. That really just depends on how much, how far your reach is, how expensive it is that you're able to make the retreat, and people still be interested in attending. If you have a more luxury market, then you're going to be able to make more money, you're going to be able to pad more in there. If you are doing a more off grid, targeting people that maybe have less resources, you aren't going to be able to charge as much obviously. That number is just going to come from your experience and knowledge of your target market so that you can put that together.
You have whatever it is that the lodge is offering, you have your mark up, and then you want to include some sort of per diem. Maybe for you, maybe for an assistant if there's going to be two of you, but that's a per diem throughout the duration of the retreat. Plus your airfare, plus if you're going to want to spend a couple of days there, maybe before or after just to ground, or get to know the area, whatever it is that you feel like you need to do. Let's say for the sake of example that your airfare, plus the couple of hotel nights, plus say you're planning on spending fifty dollars a day on meals for yourself throughout the program, say that comes to a total of a thousand dollars. Then you're going to want to look at how many participants it is that you're very, very confident that you can secure, and then you're dividing that by how many participants, and that's the number that you're adding on per person.
You have the number from the facility that's including all of the tours, all of the meals, everything it is that you're wanting to include, the airport pickup et cetera. You're having your mark up, and then you have your kind of per diem that you are including just to make sure that you're able to get there and really not have that come out of your mark up. From that place you want to add some sort of administrative add on. For me for example, my admin assistant makes a commission on the people that register for my program, so I have to keep that in mind as I'm creating the pricing for my programs. I usually add around a hundred dollars for that piece, and that, a significant majority of that goes to my team, and then it also covers things like printing, or whatever it is. Kind of these administrative things that come up around the program, I make sure that I'm covered in that way.
Then I have my cost of customer acquisition, and so the cost of customer acquisition, that's how much money it cost to get somebody signed up for your program. If you're doing paid ads on Google or on Facebook you want to make sure that you're understanding that those things obviously cost money, and you don't want them coming out of your per person mark up. Adding something like fifty dollars say per person, that's going to give you a budget for starting to promote your program via social media, via Google or however else it is that you're deciding to promote it, without again, that coming out of your mark up.
I find that for my programs last year it cost me right around fifty dollars per person to get somebody signed up, and so that's what it is that I include in my program pricing, kind of as an expectation. As I move along in my business, thank goodness that number actually goes down because I have word of mouth, and some other ways that because I have more momentum in my business I don't necessarily need to use paid traffic as my ... all the time for everything that I'm doing, so that's really, really wonderful. Then I have my list and of course all these things that I spent time building, so I don't have to put as much money into Facebook and Google as I did when I initially got started with my company.
You have the cost of customer acquisition, and then after that, so you take the sum total. Just to kind of review here you have whatever it is that the lodge is doing, you've added your piece, whatever it is that you want to make per person, you've added your per diem flight expense piece, you've added your cost of customer acquisition, as well as your administrative fee, and then you're getting that total. You're adding ten percent, and that's just your contingency, so as things happen, they happen, and you're prepared with that because you worked that into the price. After that you're adding a ... I personally add five percent credit card fee. My credit card provider offers me, it's a 2.9 percent rate, which is pretty standard across the industry. Then I find that I have to then wire to international banks, and all these different things that can get expensive. I just have that piece worked in there to make sure that I'm covered for my bank fees.
That's it, and that's the retreat, the pricing with the retreat. I have people that ask me about insurance, which is a very important thing. I have a special yoga insurance, I have just general liability insurance, I of course require that all of my participants purchase travel insurance, they're also signing a cancellation policy, a media release, a liability waiver, all of those sorts of things are of course worked into all of this that you can have a lawyer review. Then I also have, because this is the nature of my business, I have a policy that protects me with international group tourism insurance. That policy costs me about four thousand dollars per year, which I know is a high figure but this is my business, this is my full time bread and butter so it's important to me that I have that.
That being said, if you're a yoga teacher and you're wanting to lead a retreat or two a year, that might not be the best investment for you because you're barely going to be able to make any money in that case. There's lots of great organizations that will work with you, and kind of umbrella you under their organization. Then they're covering a lot of the things that you don't need to worry about than. They're covering, making sure people are getting picked up at the airport, they're covering questions around vaccinations, all of these different things that come up. Then they're also including you under the umbrella of their insurance.
I personally recommend that you work with Village Experience, they were my last job. I absolutely am in love with everything that they do, phenomenal team there and you can learn about them at ExperienceTheVillage.com. I know that they would be happy to support you, and coordinating something if this is what you're moving towards in your business. There's lots of other organizations out there that do similar sorts of things as well, so kind of partnering with an organization like that might be a good idea as you get started, just to make sure you have all of your bases covered, and you're kind of learning in the process and things can transform as you move along. Yeah, that I think is a solid beginning there.
If you have any other questions, I don't want to go into the details of day to day with the retreat, those sorts of things. I feel like that's a conversation for another time, if you would like me to go into that or if you have any other questions at all please feel free to email me directly at SixFigureYogi, that's S-I-X FigureYogi@Gmail.com and I will feature questions on the podcast. Thank you so much for being a part of our online community, I am here for you, I'm happy to support you and answer your questions. Please feel free to reach out if you have any ways, or ideas that I could support you via the platform. I will look forward to seeing you next time, thanks so much.
Thank you so much for empowering me to be a part of your journey to abundance. My work is to be of service fully and completely, and that would not be possible without you trusting and letting me in. Be sure to head over to SixFigureYogi.com, that's S-I-X FigureYogi.com for your free online marketing and conscious business growth E-course. You've got this, I believe in you and I'll see you next time, namaste.