Trip Bacon — The secret ingredient to the perfect getaway logo
Trip Bacon

MasterAdvisor 33: How I Overcame My Fear of Fees

Travel Market Report
Travel Market Report
✨Casual
👁️ 1K views📅 4 years ago⏱️ 52:39
What This Creator Said
Creator RecommendsTips & Advice✨Casual Creator

Source: Our analysis of the creator's lived experience, based on what they said in this video.

Creator's Key Takeaways

i'm going to lose clients i'm going to lose my business um you know from past clients or i'm not going to have new clients

we have brought in 56 335 dollars in fees

it gets easier to have the conversation the more often you do it

i do regret not starting it earlier

Creator's Tips & Advice

✓Set a specific date to start charging fees and work towards that goal
✓Practice having the fee conversation with another advisor to build confidence
✓Start with a lower fee amount if you're not confident, then increase as you gain experience
✓Use the term 'research and design fee' to frame the value of your services

🆕New to Cruising? This Creator Addresses:

Fear of losing clients and business — Recognize that not everyone is your customer, and it's okay to lose some clients; focus on those who value your expertise
Nervousness about having the fee conversation — Practice the conversation, use confident language, and remember that it gets easier with time

Questions This Creator Answers

QHow to overcome the fear of losing clients when implementing service fees
QWhat fee structure to use for different types of vacations
QHow to have the conversation about fees with existing clients
QWhat is the financial impact of implementing service fees
QHow to handle pushback or questions about why fees are necessary
YouTube Video Description↓

TMR's MasterAdvisor series returned live on Thursday, with another session on service fees.  Christen Perry of Alabama's Classic Travel Connection joined Dan McCarthy to talk about her experience over the last 18 months deciding to charge, research, and then implementing, service fees. The discussion includes how Perry researched the fees, what amount she charges for each different kind of vacation, how she approaches the conversation with her clients, and more.  For more info on service fees, advisors can watch the two previous fees MasterAdvisor episodes, MasterAdvisor 15 and MasterAdvisor 9.  For more MasterAdvisor content, subscribe to the channel.