Sleep Consultant Expenses: 6 Reasons Why Your Rates Matter
It’s inevitable that as a sleep consultant, you will be faced with the question, “Why is sleep consulting so expensive?” This could be from prospective parents or people in your life who want to understand your business more. As a new sleep consultant, it can be intimidating to answer this question with confidence. Therefore, it’s important to understand sleep consultant expenses so that you understand why the rates you are charging matter.
Sleep consultants work very hard to establish and grow their businesses. Whether you are new or seasoned in this role, understanding exactly why you are charging the rates you are charging your clients will help you feel more comfortable with them. It’s easy to want to charge less because you want to help families. However, you have sleep consultant expenses that you need to consider in order for your business to stay open.
Don’t let the opinions of others dictate what you charge for your services. Charge what you are worth in addition to covering the costs that are associated with running your sleep consulting business. Learn more about what it takes to maintain a sleep consulting business below.
6 Sleep Consultant Expenses
Discover the top six sleep consultant expenses below. You may be surprised to learn exactly where your income is going, which can help you understand if you need to increase your rates.
Startup Costs
Right off the bat, there will be startup costs for your sleep consulting business. In order to make money in this industry, you will need to spend some money upfront to set up your business on a foundation of success. Before you embark on a sleep consulting journey, it’s important to establish a business plan first to help you pay for the startup costs.
Startup costs include becoming certified through Center for Pediatric Sleep Management (CPSM). Due to the comprehensive curriculum offered by CPSM, there will be a cost associated with enrolling in the course. However, there are several payment plan options available to help you start your business in a financially secure way.
In addition to paying for certification, you will also need to pay for startup expenses like investing in the internet, a good web camera, an audio headset or speaker, and a possible cell phone if you want to keep your personal number separate from your business calls. These are just some examples of sleep consultant expenses at the beginning of your business journey.
Your Time
Time is something you cannot get back. Taking time out of your day to coach and help families establish healthy sleep habits for their families is something you deserve to be compensated for, which is reflected in your rates.
The time you spend with each of the families you serve is time away from your own family and friends. It is only fair that you are compensated a reasonable rate for having to be away from them to serve someone else. Your time is valuable and, therefore, should be treated as such.
Your time is also associated with your expertise. You have taken the time to become certified, knowledgeable, and experienced as a sleep consultant. This is invaluable and priceless.
Marketing Materials
Marketing materials can become one of the sleep consultant expenses in your business. You may choose to invest in marketing materials, whether that be at the beginning of your career or on a continual basis. Marketing materials include business cards and brochures that you can hand out to members of your community to get your business more exposure. You can also display your marketing materials inside other establishments, with their permission.
Consider making a bulk order of your marketing materials to help save on shipping costs and having to pay inflated costs later on. It is also wise to keep your materials up to date with your current contact information.
Ongoing Fees
There are ongoing fees associated with a sleep consultant business. Those fees can include business insurance, a website hosting monthly subscription, a Zoom subscription, internet fees, and more.
In addition, if you choose to become a regular vendor for local events in order to promote your business, you will need to pay vendor fees each time you sign up for an event. These ongoing fees can quickly eat at your revenue if you aren’t charging enough for your services.
Employees (Optional)
Some sleep consultants choose to employ others in their business. This is not a mandatory expense. However, you may want someone who maintains your website and social media pages. In addition, you may want to invest in a bookkeeper or a virtual assistant. These types of employees, whether temporary or not, can become high sleep consultant expenses you will need to cover.
Ongoing Education
As with any other type of profession, it is important to stay current with new and relevant research. This same principle applies to becoming a sleep consultant. You will need to take continuing courses throughout your career so that you can effectively assist your families.
One of the best parts about enrolling in CPSM is that you get lifetime access to our course. This means you also get access to any new or updated lessons that get added in the future at no additional cost. Center for Pediatric Sleep Management can save you money for your ongoing education as a sleep consultant.
Other Questions About Sleep Consultant Expenses
It’s important to understand how your sleep consultant expenses directly impact other areas of your life. Take a look at some questions other sleep consultants are asking.
How much does a sleep consultant make?
There is a wide salary range for sleep consultants based on how many hours you choose to work each week. However, some sleep consultants who have graduated from CPSM are making $1,500 to $5,000 per month working part-time, or $5,000 to $10,000+ working full-time. You are in control of your earning potential.
Is it worth it to become a sleep consultant?
It is 100% worth it to become a sleep consultant, despite the sleep consultant expenses that come with the business. To know you are making a difference in so many families who are struggling with sleep deprivation is worth it.
In addition, you are helping those families become happier and healthier with established sleep plans and a foundation of knowledge about sleep challenges they are facing now and could potentially face in the future.
How many hours do sleep consultants work?
Sleep consultants have the freedom to work a schedule that works best for their lifestyle. There are no set hours that you have to work each week. If you want to start a side hustle as a sleep consultant first and then gradually work your way up to full-time, you can absolutely do that. It all depends on your goals and your schedule.
What qualifications do I need to become a sleep consultant?
As mentioned above in the sleep consultant expenses, there will be some startup costs that are associated with becoming a sleep consultant. In addition, you will need to be someone who is willing to learn, be patient with families, and have good communication skills.
Center for Pediatric Sleep Management can help you prepare for a sleep consulting career. You don’t have to have prior knowledge or experience to become a successful sleep consultant. Invest in yourself and your business through CPSM.
Sleep Consultant Expenses Directly Impact Your Rates
Sleep consultant expenses can be intimidating to review. However, this is exactly why you are encouraged to charge a rate that respects your expertise, talent, and time. It takes dedication to be successful in this business. This includes a dedication to your finances by paying for your sleep consultant expenses regularly.
If you are interested in exploring more sleep consultant expenses, then it’s time to dig into the life of a sleep consultant with CPSM. Come join our free Facebook group to learn more. Inside the group, you will get access to a community and training opportunities showing you exactly how Center for Pediatric Sleep Management can help you reach your financial and personal goals.
In addition, you will gain access to a library of guest experts who join live on our podcast and share how they have created a successful business through sleep consulting, including the expenses they choose to pay for consistently. Some experts share how sleep consulting has helped them grow their income tremendously despite having to pay for their expenses.
Want to take action now to inquire about CPSM? Click here to book a call with owner Jayne Havens to get answers to your questions about the course.