Starting a personal training business is a very exciting prospect, but one that needs to be managed with care to ensure that your business is structured correctly and becomes a success.
There are many things that need to be considered, such as:
- Business planning
- Obtaining finance
- Choosing the best business structure
- When to set up a company
- Using trusts
- Business registrations
- Taxation obligations
- Legal requirements
- How to pay yourself
- Separating personal and business expenditure
- Employing staff
- Employer obligations
As you can see, qualifying as a personal trainer does not necessarily qualify you to be a successful business owner. You need to seek advice from professionals, such as attorneys and accountants, to ensure that your business is set up correctly.
Read out next posts in this series for more tips and information on how to start your personal training business.