In order to boost your income to the next level and attain the lifestyle you desire, you have to be proactive when it comes to your personal training business.
There are thousands upon thousands of personal trainers out there who are all doing much the same thing. You need to differentiate yourself from them and make yourself stand out.
This ‘bathtub diagram’ represents business profits and volume. There are basically two groups of people who earn big profits: those who do a small volume of business at high prices (Model 1), and those who do a much larger volume of work at lower prices (Model 2).
So how can you apply this to personal training?
Model 1: Find a specific niche in which you can specialise.
- Target your marketing to appeal to people who fall into your niche
- Increase your rates to reflect the fact that you’re a specialist
Model 2: Do group training and/or hire trainers to work for you.
- Train more people in an hour, at reduced rates, to increase your hourly income
- Take a percentage of your trainers’ income as commission
For detailed examples on how to apply these concepts to personal training, read Brad Sheppard and Jason Urbanowicz’s book A Personal Trainer’s Guide to Wealth Creation. Click here for this invaluable read.