HOW TO START A PERSONAL TRAINING BUSINESS.
Personal trainers work with individuals to help facilitate diet and fitness goals. Personal trainers help a variety of individuals to achieve diverse goals regarding their health. This may involve creating custom workouts and diets as well as helping to establish specific goals for clients who aren’t sure what they need to do next.
What are the costs involved in opening a personal training business?
The costs involved with opening such a business are minimal. The certification you may require should cost no more than $2000, with some programs being as low as $500. You will need to purchase liability insurance, and this should cost no more than $200-$300 a year. Because you will be meeting with clients at areas that they choose, you don’t have to worry about the pricey overhead of a separate building or its various utilities.
In fact, your only other real cost will be any equipment that you purchase for your clients, and this will change based on specific clients and their specific needs. Plus, you should be building in equipment costs into your hourly rate (more on that later). Finally, factor in about $1000 for some initial advertising—this will be in the form of professional fliers, business cards, and possibly newspaper and radio spots. Never neglect the potential of running a website and having a social media presence,as both of which can be done with little to no cost and help increase your visibility.
What are the ongoing expenses for a personal training business?
Perhaps the greatest thing about a personal trainer business is your minimal ongoing expenses. Pretty much all you will regularly pay is the monthly contribution towards liability insurance (between $200-$300 a year), any fuel costs for traveling to clients, and the cost of the equipment that you buy. And, as mentioned above, there are different pricing structures that allow you to absorb these costs, effectively reducing your ongoing expenses to nothing more than the insurance.
Who is the target market?
This job involves a more diverse clientele than almost any other job out there. Generally, though, the best clients are younger clients. The main reason for this is that they are likely to schedule more sessions (leading to more money for you) and, if they like you and stay in the area, may be a regular source of income for you and your business for years to come. Such loyal clients can also help recruit more clients for you in the form of inviting their family and friends to contact you.
How does a personal training business make money?
Personal trainers make money by charging their clients for sessions. This is typically an hourly charge and the sessions are usually an hour. You may consider charging extra for travel to the client or offering specials where a client can pay a certain amount up front for a number of sessions.
How much can you charge customers?
As with many jobs, the exact amount you can charge your clients will vary based on the area that you are in and the full breadth of services that you offer. For instance, some trainers suggest charging a fixed $85 an hour, and they believe this cost is justified based on both your experience as well as your willingness to buy the clients whatever equipment they require (which can become an expensive proposition based on the client and the equipment).
Others recommend either charging different amounts for different services (with the knowledge that some forms of training is more expensive and/or complex than others) or to negotiate a price via an open pricing model (which may let you factor in things like whether it will take 30 minutes to travel to a client and then 30 minutes to travel back, which eats up an hour you could spend training someone else).
How much profit can a personal training business make?
Obviously, the exact amount of profit that you can make comes from the intersection of your average hourly charge and the amount of customers that you have. The average amount that a personal trainer makes is about $50,000 a year, and a steady array of clients means that you could potentially double that amount and then some. Keep in mind that the previously-mentioned low overhead and low cost to start this business are also major factors in how much of this money goes directly to you rather than to the costs of your business.