In a personal fitness business, make yourself indispensable
Even in lean times, people will pay to stay lean themselves. A personal fitness training business depends on the demand for your own personal brand of fitness. Training businesses typically get paid per session on a weekly basis. So keeping a fully booked schedule from a large number of clients is vital to the financial health of your business. You will need to keep competitive rates, develop innovative training routines and generate a steady stream of referrals.
Instructions
1. Create a new operating plan. Go back to your operating plan in your original business plan. Incorporate your own early business experiences as a personal trainer to fine tune this plan. Make a list of what works and what doesn't work. Create new income projections that take into account the realities of the business and the swings of the economy. In The Wall Street Journal's report on "Survival Strategies During a Recession," successful actions taken by small businesses included using aggressive marketing, broadening appeal to new markets and cutting prices intelligently.
2. Strengthen your niche. Most people work out for very specific reasons and want to do it in a very specific way. Don't try to be a general trainer for everyone. Become a specialist. Include specific workout activities in your business such as yoga, boxing or water routines. Become an expert in a specific area so other trainers look to you for that expertise. Consider writing fitness articles or a blog to develop your name and knowledge. Stay on top of new trends such as fitness programs for older adults and core training. The American College of Sports Medicine (ACSM) conducts an annual survey of the top fitness trends in its Health & Fitness Journal.
3. Go extreme. The fitness industry attracts many people who want to be pushed to their physical limits to get in shape. Insanity workouts, extreme weight-losing contests and boot camp workouts are just a few of the recent trends. Attract this demographic by offering your own version of an extreme workout. Give it a catchy name and back it up with real promises.
4. Focus on your rates. The personal training business can be tough in difficult economic times. It's easy for someone looking to save money to cut out their personal trainer. Make your rates competitive and keep them flexible. A constant cash flow is important, so try to get your clients to commit to the long term. Offer deals for a 6-month commitment or a year of training. If you have a client who you know is leaving you due to finances, cut him a temporary private discount. He will appreciate the special concern and be more likely to be a loyal client.
5. Develop a referral business. Creative business cards and a professional website are good business basics. But you want to truly motivate current clients to send business your way. Offer a cash incentive or a free training session for anyone who brings you new business. Utilize social media sites such as Facebook to augment your network. Add your clients as friends and post messages on their profile for their friends to see as well.
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