The Business of personal training

[SpyWizard]

Greetings one and all..

I am going to be posting a few articles as i get time on the actual development of personal training as a business..

It will be more business and legal directed as opposed to the training of clients but I'll speak on that as well.

The purpose is to shed some light on "should and how" to create a company doing something we love. I say should because sometimes it gets to the point where we stop training because it seems like we are doing it all the time.

 

[pbhardbody]

Greetings one and all..

I am going to be posting a few articles as i get time on the actual development of personal training as a business..

It will be more business and legal directed as opposed to the training of clients but I'll speak on that as well.

The purpose is to shed some light on "should and how" to create a company doing something we love. I say should because sometimes it gets to the point where we stop training because it seems like we are doing it all the time.

Ill be interested to hear what you have to say.

 

[SpyWizard]

One option and is basically at the starting point that many people go to is a large commercial gym, example is LA Fitness...

La Fitness is a business, it's owned and run by businessmen with a minor in accounting/bean counting, you'd have to be from the east coast to get all that that means, but lets just leave it at if a process or piece of equipment was requested and does not make the company more money, then the answer is no..

LA Fitness will hire a trainer with just about any certification.. the low end training package that they offer is $25 per session (that's a 30 minute session) with recurring charges (monthly fees) so that the client can achieve their stated goals .... January is a very busy month for them.

They compensate the trainer $6 per session on a w-2 employment basis...

advantages to this is that you as a trainer show up, train and go home, you can up sell the client training and get a commission but it's nominal.. as in the client is training with you 1x per week and they want to train with you 2x week instead or an hour session... you get the idea


All other clubs will hire and split the training that is sold to the client, but often times it favors the club, and you have to bring your own clients to the club and they join the club you work at..

Some clubs will charge you a fee per client or unlimited use per month.. this can be good and bad, you still provide your own clients, however an example of this would be $13 per hour session that you charge a client goes to the gym and whatever else you charge the client is your fee... that same club could offer you $350 per month with unlimited access for you and your clients with no membership dues to the client, this is nice because if they are not with you, they don't train there..

You have to have your own liability insurance but this is normally $125-300 per year and is really nominal..

So as we can see there are many different ways to have a JOB with a club, either employer/employee, sub contractor, or contracted space (much like a hairdresser will rent a chair, or a stripper will pay to be in a strip joint, then she keeps all the $$$ she gets)..

I'll post more in a bit..

 

[SpyWizard]

Some gyms put in a compensation schedule that basically uses the training staff as their sales staff, that can be both good and bad for the trainer..

What we really need to get to is...


WHY DO YOU WANT TO TRAIN OTHER PEOPLE???


Before you can really decide what's going to be a good fit, you need to answer that question..

is it for the money?? then don't do it, you will totally whore yourself out and burn out..

is it because you are in good shape and think you can help others get just like you?? don't do it

is because you believe that you possess the ability to motivate and educate people, a good communicator, now we're getting to something..

is it so that your ego gets a boost from those that look up to you.. (what happens when you injure yourself?

If you are a sales person but hate sales people, if you are a giver, meaning at christmas time do you really get a great feeling by making people happy with the things you can share with them then you may be on the right track..

If your desire is to help and that in itself is fulfilling for you and the time you spend with clients is fun and goes by in a quick manner, if you actually care enough to listen to people and do research if they are not improving, then you may be on the right track.. If the money is secondary to your goals then you will be rewarded $$$$..

Good things do come to those that try to help others, no matter which vein of training that you end up in, personal training is one thing, team training if that's your thing is more financially rewarding, teaching others to be in the business is yet another avenue that I've found to be very fulfilling. We will discuss all of these in more detail..

 

[SpyWizard]

The federal tax ID # and business licenses..

Different states have different licensing issues when it comes to businesses, and the collecting of state taxes, find an accountant that does payroll and tax returns for small businesses.. You won't need to run a payroll at 1st so don't bother..

You do want to create a business.. you will need to create a C corporation, then after that change it to a sub s corporation that way you don't have to pay corporate taxes but you get to keep all of the benefits of owning a company..

If you talk to an attorney they will advise to create an LLC (limited liability company) the man advantage in an llc is you can screw over people more easily...

Go with the sub s... NOT AN S CORPORATION an s corp stands for sole proprietor and does not have the ability to shelter income or assets as well as a sub s does...

you can spend a lot of money and time with an attorney and with accountants to learn this simple item, but an accountant wants to protect you cash and assets.. an attorney wants to protect your company entity... from my position if you are sued they will get you either way, that's what insurance policies are for.. to protect you..

more to come

 

[pbhardbody]

Good info so far. Question - if someone is going to train individuals at their home, or in a neighborhood gym (non-commercial) do you think certification is important or even necessary? This assuming the trainer has years of experience at training? After all most certification programs dont teach you how to train people. They teach you muscles so that you can pass a test and get a certificate. Most people dont even know what each different certification stands for.

 

[SpyWizard]

^^^very true... "most people" don't have the $$$ it would take to pay for a regular training program that would last 3-6-9 months..

It goes back to what are you trying to accomplish???
are you trying to help people around you?
are you trying to create or replace an income??
are you trying to create a business??

Now remember there is a big difference in owning a job and owning a business, the difference is if you are not there, if you do not show up to work for 3 months will that business continue to make you cash?? if so, they you have a business, otherwise you have created a job for yourself..

Best advice I have ever gotten since starting to teach is this... "Just have fun with it" and that's good advice..

 

[SpyWizard]

So, lets put aside a moment the legal path to ownership, lets even put aside should you be in the business and concentrate more on how you should be in the business..

One on one training, this can be very rewarding and very frustrating at the same time, imagine not only do you need to keep yourself motivated but now you have to keep people that basically don't like the way you make them feel, but at the same time they are paying to come see you.. (or at least paying you) my advice on this is to get paid up front and for a package. Hmmm.. i should post up more on contracts and what they need to have in them to protect you and the client... (side track) so these people don't want to be there but they are so lets make the best of it..

Group training, this is duplicating your effort to the point where you are getting paid by many people for the same time.. do you want $70 hr from one person or $20 per hour from 20 people?? point being if one drops off it's not a big deal to get another to take that spot, and then it's about marketing, and those in your class, getting good results are your best advertising..

Pushing pills/water, option #1 a brick and mortar gym/lifestyle facility (fancy words mean bigger $$$) or option #2 internet consulting and selling of products... but where is the duplication of effort here?? remember we want to create a business that can either be "sold" or will create a revenue stream with or without your participation..

 

[Academy780]

Good info so far. Question - if someone is going to train individuals at their home, or in a neighborhood gym (non-commercial) do you think certification is important or even necessary? This assuming the trainer has years of experience at training? After all most certification programs dont teach you how to train people. They teach you muscles so that you can pass a test and get a certificate. Most people dont even know what each different certification stands for.

The certification is only necessary if 1) your employer requires you have one or 2) you feel you need the education.
A client may ask you if you are certified because that is what they are told to ask from the news media and other outlets. They will particularly be concerned if you do not physically represent their idea of fitness.

 

[SpyWizard]

^^^ Yea, the best resume you can have is your body, and a good personality is a big plus...

But training someone in their home is the way to go, or better you have clients that want to train in your "Style" and you have 2-3 trainers that assist you in that effort..

you get paid $100 hour, you pay the trainer $25 hour and you take the headaches..

It's more difficult and can be very time consuming to build up this type of business, but it's the only way to build a "revenue stream"