Personal Trainers: 7 Ways To Make More Money
7 Top Tips To Help You Boost Your Business As A Coach Or Personal Trainer
So, you’ve been doing this for a while and you feel like you’re working all the time and still barely covering the bills. And your much-loved work outs, once healthy diet and 8 hour-a-night sleeps are a thing of the past. Yikes, I get it! This problem is common with almost all successful trainers, so kudos to you. YOU MADE IT! But seriously let’s address some ideas that will help you achieve better balance and more cash. Here are some ideas to help:
Better Time Management
Some of us just aren’t that great at it. We say “yes” too much, we run late, we start late. We allow others to do that to us. We don’t think about commute time and traffic. If you say ‘that’s not me’, then keep a diary for at least a week or two, and see if any of the above is happening. Once you are aware, then maybe you can improve.
Financially Dense Schedules
Meaning, find a way to max out the income at your peak times. Also, think about training in one place and have the clients come to you. Even if you charge more, traveling to a client at peak time usually won’t add up, to banging out a session on the hour. Investigate renting space, converting a room in your home, or contacting a complimenting business about partnering up in a rental. If you need help with a business plan, many commercial fitness brands like GRAVITY and other organizations can help you. Check out ideafit.com Even better join them, support your industry.
Consider moving towards semi privates, which bring in more money per hour for you and prevent you from turning clients away, especially for prime time spots.
If your prime time spots are now sold out, never turn away business. Find a like-minded trainer that you can shift a few clients to. See how you work together and get feedback from your clients. Try subbing some clients out with the new person and see how it goes. Maybe, when you’re taking a much needed vacation, set up the new trainer to succeed. Newer trainers are very happy to get a good client. Fill in the time with group training or a specialty class that commands more money, like Pilates or GRAVITY. Your old clients can join in.
Think about the big picture for your clients. I’m liking the idea of doing 1-6 month programs with my clients. They get a lot more bang for their buck, and I get a lot more bucks for my time. It can be working with a group to prepare for an event: first time or athletes’ or a general health and fitness. Most of the research shows that people get better results as a group, and when they make a measurable commitment. This also allows you to combine online sessions with live sessions and create a community within your business … which is highly valuable … with bigger brand building.
Specialty training, as previously mentioned, is a great way to increase income and add uniqueness to your brand. Companies like Total Gym design the program for you and promote YOU with their brand. Once again, this requires an initial business plan and financial investment but it will pay off pretty quickly.
Get An Accountant
Get an accountant that understands your business. They are extremely unique, they understand the tax codes and think about what you can and can’t write off for both major expenditures and the small stuff. Don’t just wing it, I have friends who got audited and it was a horrible mess, not ending in their favor.
We are so lucky to be able to do what we love, preparation and good fiscal habits are a part of any business, including ours. It’s the good nutrition component to a training plan. I’ve only touched on a few points that for me have been key. Please feel free to add your own personal experiences, what works and doesn’t work and lessons you’ve learned for both good and not so much …
About The Author
Deborah Beck is a six time Ironman athlete, coach and personal trainer. For over 25 years she has combined her love of sports and fitness with her passion for travel and adventure. Her early work as a Fitness Director moved her throughout Asia, the Middle East and the UK. She holds multiple certifications and is currently working towards her 500 hour Yoga Medicine. Her training philosophy incorporates Pilates, yoga, Gyrotonic and strength to produce a balanced, unique approach to high endurance training. This fall she is launching a global training and lifestyle company and online community. When not traveling, she splits her time between Quogue NY and Telluride Colorado.