You CAN Be a Rich Personal Trainer
Do you dream of becoming a rich personal trainer? Then you need to follow these great Create PT Wealth business tips for personal trainers.
Earn More In Fewer Hours to Become a Rich Personal Trainer
This tip might seem like an obvious one, but it’s a very important one. When we teach our 2 day business building workshops it’s really about teaching trainers how to earn a 6 figure + income, while reducing their hours. There’s so much more to that, because we’re looking at actually creating the lifestyle that we want.
Avoid the Monster: Get a Personal Training Business Plan
Unfortunately, most people get into business with no real business plan, and no idea about what they’re going to do. On some level, they’re having a go, but a bigger part is that if you create this business and you’re not sure where it’s going and what the direction is, it becomes what I call a monster that needs regular feeding. And it can consume your life: working early mornings and late nights and weekends. And you feel that it’s really pushing your around, rather than you being in the driver’s seat.
So from there, what we really need is to have a clear idea about:
- What is the business model?
- What are you trying to achieve?
- What do you want to get out of your business?
- What is your income?
I’m amazed after training over 3000 trainers over the last number of years, how many people don’t actually have a clear idea about what the end goal for their business is. This could just be What’s my end objective for the next 12 months?
So what you really need to look at are basic things like:
- What do you want to earn?
- What’s your total income?
- Is the way I’m currently working my business going to get me to that goal?
I was speaking to a trainer and they wanted to earn the goal of around $100 000. They’re round about $60 000 and their idea or their approach to it was just to work more hours. So it really worked out, based on their current charging rate, to get to that they’d be doing 50 hours (or 50 sessions) a week. So we really broke that down and looked at how do you actually achieve that money by changing the model or the structure: by increasing the hourly rate that you earn so that you can work less hours. So with a bit of strategy, a bit of planning, it really does make a better game plan for your business success.
Why You Need a Personal Training Business Plan to be a Rich Personal Trainer
Now think about it from a PT perspective, a personal training perspective. If you have a client come in who wants to get ready for a triathlon event, that’s going to be totally different training and end goal to someone who just wants to lose 15 kilos in 4 months. And you’re going to weigh up and design a different program to get that end result. So what we need to do it to get that concept and idea, and focus on that in our business.
We need to have a clear program for what we want our business to give us. So what I encourage you to do right now, or as soon as you possibly can, is to sit down and map out exactly what you want moving forward in your business. Looking at the current model, ask yourself:
- Is that going to be achievable?
- Is it going to fit in with my lifestyle?
- How many hours will I work?
- What other ways could I achieve this? Let your mind go to the stage of brainstorming.
Devising an effective business plan is an essential step in becoming a rich personal trainer.