As an outcome of their work with individuals, personal trainers assist people to achieve their fitness and diet goals. Personal trainers work with an expansive range of people to help them accomplish several health-related goals.
Clients who are uncertain of what they should do next may benefit from developing personalized exercises and food plans and guiding how to reach their goals.
Towards the end of this article, you’ll find answers to some of the most frequently asked questions on how to start a personal training business…
The Ten Steps To Starting A Personal Training Business:
The following steps will assist you in making sure your business is prepared correctly, registered, and in full compliance with all applicable laws.
It’s the definitive manual on starting a personal training business and making it a success.
Step 1: Plan Your Business.
You’ll need a well-thought-out company strategy if you want to succeed as a personal trainer entrepreneur.
Map out your goals and look out for any issues with this tool. The following is a step-by-step guide to starting a personal training business:
How Much Money Do You Need To Start A Successful Personal Training Business?
The Fitness business has very minimal startup costs. For a personal training certification, the fee should not exceed $2,000.
Even $500 is not out of the question. There should be no more than $200-$300 per year in liability insurance premiums.
Because your potential clients will pick the location where they meet with you, you won’t have to stress the cost of construction or utility bills. Expenses for clients’ equipment are the only thing you’ll have to worry about.
However, this leans on the distinct requirements of each and every one of our clients. Hourly rates should reflect the personal training services cost of the equipment you use—more on that in a moment.
Finally, you may wish to consider increasing your hourly charge to cover the cost of first advertising.
In addition to newspaper and radio commercials, this could include professional flyers or business cards.
Consider the advantages of having a website or social media presence. Using either of them is completely free, and they both have the potential to boost your online presence.
What Are The Ongoing Costs Of Running A Personal Training Business?
The best part of operating a personal training business model is how inexpensive it is to run. All you will have to spend is a monthly liability insurance payment (between $200 and $300 per year), client travel charges, and equipment purchase costs.
These costs can be absorbed through various pricing schemes, lowering your monthly insurance expenses.
Who Is The Target Market?
The fitness industry has a larger clientele than most others. Younger clients, on the other hand, tend to be the best. They are more inclined to plan additional sessions, resulting in increased revenue for both you and them.
Furthermore, if they like you and live in the same area, this might be a consistent source of revenue for years to come. This loyalty can help you attract additional clients by recommending their relatives and friends to contact you.
How Does A Personal Training Business Make Money?
Most personal trainers make money by charging clients for training sessions. These can last up to an hour and are billed hourly.
It is feasible to charge an additional fee for travel or provide offers that allow clients to pay a predetermined sum upfront for several sessions.
How Much Profit Can A Personal Training Business Make?
Depending on where you operate and the services you provide, the price you charge your clients will vary. Some trainers advocate charging $85 an hour. This will be determined by your level of experience and your desire to purchase the appropriate equipment (which can be pretty expensive depending on the client). It depends on the personal training business plan.
Different types of training are more expensive and more complicated. Hence other trainers propose charging different amounts for each service. They also recommend negotiating a charge by using an open pricing model. The client’s travel time, both to and from the location, can be accounted for this way. The time you’d have spent teaching another individual is now yours to keep.
How Can You Make Your Fitness Business More Profitable?
As your company expands, you may want to raise your prices. Even a slight increase in your hourly rate can make a significant difference in the long run.
The sale of essential supplements or special equipment may be an option for you to consider for your clientele. This will help you become the “one-stop-shop” for exercise.
Create an automated payment mechanism. It will encourage you to deal with clients regularly and make it easy for those who are committed to making payments.
What Will You Name Your Business?
The name of a company is critical and challenging to choose.
Creating a business under a different name is feasible if you have a sole proprietorship.
These resources can help you pick the correct business name when you register a business identity:
- Business records for your state
- Social media platforms
- Federal and state trademark records
- Web domain availability
It is critical to safeguard your domain name before others do.
Step 2: Form A Legal Entity.
These include sole proprietorships, partnerships, limited liability corporations (LLCs), and corporations.
It’s possible to shield yourself from personal liability if your personal training firm is sued by creating a business organization like a limited liability company or a corporation.
Alternatively, you can employ a service provider to incorporate an LLC for you and only pay state filing fees. They may incur additional charges.
Step 3: Register For Taxes.
You must register with several federal and state tax authorities with a new business. An EIN is a requirement for tax registration.
Small Business Taxes
Depending on the kind of business you establish, there is a wide range of taxing alternatives accessible. An LLC taxed as an S Corp is a good illustration of this.
Taxes can be confusing for small business owners, so here are a few resources to help:
- LLC Taxes
- LLC vs. Corporation
- Sole Proprietorship vs. LLC
- S Corp vs. LLC
- How to Start an S Corp
Step 4: Open Your Own Business Bank Account & Credit Cards.
To safeguard your personal assets, you should set up business-specific credit and bank accounts as soon as possible.
If you combine your personal and corporate finances, your house, car, and other possessions are at risk. Piercing your corporate veil is a term used in business law.
You can obtain credit cards by studying how to get a good credit rating for your business. You can use your company’s name instead of your own to get better interest rates, bigger credit lines, and more to finance your business…
Step 5: Set Up Business Accounting.
To get a clear image of your company’s financial health, you must keep track of all of your expenses and income streams. If you keep accurate and detailed records, your annual tax filings will be a lot easier.
Step 6: Obtain Necessary Permits And Licenses.
You might be fined or even have your business shut down if you don’t have the proper permits and licenses in place.
State & Local Business Licensing Requirements
Particular states may need personal trainers to obtain certain licenses and permits before legally conducting business. Find out more about state licensing and permissions by visiting the SBA website.
In addition, there may be further local licensing or regulatory requirements. Get information about permits and licenses issued in your area:
- Consult the office of the city or county clerk if you have any questions.
- The US Small Business Association’s catalog of resources for small businesses will help you locate nearby support.
Most personal trainer certification programs need CPR certification. You may only obtain CPR certification from a reputable Fitness Certification Company. You can get first aid training and how to use an automated external defibrillator (AED) from a company that provides fitness certification (AED).
Release Of Liability
Personal trainers should have their clients sign a release of liability form to protect themselves from legal action.
Professional Liability Insurance
For personal trainers, this is essential information. Consider checking out AFPA, which has researched numerous insurance firms and developed an excellent list of affordable policies.
You can use a gym or other big indoor area to operate a personal training business.
Certificate Of Occupancy
You might use a gym or other large location to start your own personal training business (typically indoors). A Certificate of Occupancy is frequently required for enterprises operating out of a physical site (CO). A CO checks compliance with zoning regulations and building codes.
if you’d like to rent a place:
- The owner is typically responsible for obtaining a Certificate of Occupancy (CO).
- Before signing a lease, be sure you have or can get a valid CO from your landlord.
- Major upgrades need the hiring of a new chief operating officer. According to your lease agreement, you must obtain a valid CO before making lease payments.
If you want to remodel or buy a place:
- You’ll need a legal certificate of occupancy from a local government.
- Personal training businesses must comply with all local building standards and regulations.
Step 7: Get Business Insurance.
A personal trainer business must have insurance to operate legally and safely. Financial safety for your business is ensured if a covered event occurs.
A wide range of insurance policies can cover many enterprises and dangers. General liability insurance can assist you in assessing the risks your company faces. Small firms are most likely to require this level of protection. It’s a great spot to begin your research.
Workers’ Compensation Insurance is another essential business insurance product. Workers’ compensation insurance is directed in most states.
Step 8: Define Your Brand.
Your brand embodies your company’s identity. The public’s perception of your company significantly impacts your brand image. You may differentiate yourself from your competitors by building a powerful brand.
How To Promote & Market A Personal Training Business
You can’t ignore your business cards, newspaper ads, and radio and flier campaigns. These platforms are excellent for promoting your business and distributing information about what you offer in your online personal training business.
As a bonus, you may conduct free workshops at community centers and gyms, which is a terrific way to gain exposure and demonstrate your expertise.
To further promote your business, you can put it on your vehicle. There is a lot more travel involved in your profession than you realize.
How To Keep Customers Coming Back
Promo deals, such as buying several sessions at once, can be a terrific way for clients to save money. Consider offering a free session or a bonus session to clients who recommend you to others.
The easiest way to keep customers is to interact with them freely. Create an action plan to help them achieve their objectives. As long as you continue to do quality work, your customers will be loyal.
Step 9: Create Your Personal Training Business Website.
As soon as you’ve established your brand and produced your logo, you’ll need to create at least a basic website for your company.
Even though having a website is vital, some people may be apprehensive about it. In 2015, this was a legitimate concern, but it’s gotten much less so in the years after that.
You should develop your website now for the following reasons:
- All genuine firms must have their website. Online, it doesn’t matter what type of business you’re in or what industry you work in.
- Not all social media accounts are meant to replace your company’s official website.
- Website builders like GoDaddy’s Website Builder allow you to create a website in a matter of minutes.
Step 10: Set Up Your Fitness Business Phone System.
To keep your personal and professional lives separate, you should use a different phone number for your business.
In addition to making your business more efficient, it also increases its credibility and makes it simpler to discover and connect new consumers.
A virtual call center, for example, can be set up by entrepreneurs using a variety of services.
Is This Business Right For You?
Those who already follow a regular workout regimen and are willing to impart their knowledge to others can consider going into this line of work. It’s possible to begin your own personal training business if you’re like this individual.
It’s a fantastic fit for a “people-oriented” person because the job needs constant contact with clients.
People who thrive in leadership positions can also benefit from this option. It’s like a good coach or manager helping individuals perceive and then realize success; a strong personal training program helps clients learn a healthier version of themselves.
What Is My Top Recommendation For Making Money Online In 2022?
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
With this digital real estate program, you can have the ability to completely walk away from manual labor!
Sound too good to be true?
Of course it does!
But it isn’t…in fact, business owners wish they had this skill!
All you have to do is build and rank a website and forward the jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business, tree service, plumbing, towing, etc.
How Do You Get Paid And How Much?
Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.
A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $1000 a month!
See why they call it digital real estate now?
That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.
Unlike the passive income ideas I mentioned earlier…
This one actually allows you to collect that without working in a brick and mortar business all day.
Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.
Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.
Now, I know you probably have tons of questions… So, check this out to learn more.