Own a Personal Training Studio
Opening up a personal training studio will help you bring your 1 on 1 personal training business to that next level. Imagine being able to offer your clients the perfect environment for achieving all their fitness-related goals. In this article, I'll offer some ideas on how to save time, enjoy more peace of mind, and generate more income through your personal training studio.
Passive Income:
Delegating can potentially save you time and bring in passive income to your business. Most experienced fitness trainers have in mind to train all of their clients themselves even after opening up their own private studio. In my opinion, running a business and doing all of the work is a recipe for failure. You may make money... but you definitely won't have harmony between all areas of your life.
Instead of performing every single task yourself, use your experience and passion for fitness to simply run the personal training studio. I believe that to be successful in life, you have to work hard but it's also crucial to work smart. It's important to learn to delegate. Delegating is basically assigning other people tasks to perform vital to your business.
This may sound like a lazy way of making money, but it's not. Laziness is making other people do things for you and not giving them anything in return. You can be doing important stuff like marketing your business while delegating the actual personal training to other trainers, for example.
Managing employees could be a draining process. An alternative to hiring workers is getting some independent trainers (hopefully, some you've already worked with and approve of) to do all of the personal training. You'll pay them a large percentage of what the client pays for completed sessions. Many trainers don't mind being paid on commission only. You can even give them their own key to the studio for training clients during off hours when you're not there.
To simplify things even further, you can charge independent trainers a monthly rent. You can refer new clients to one of the trainers, and the trainer will then discuss his/her price-plan with the client. Regardless of the amount the trainer charges, s/he will pay a fixed fee (rent) to you for using your personal training studio (facility and equipment) and keep the rest as profit.
If your studio has an extra office, or an office that you will not be using, convert it/them into a massage therapist's, holistic practitioner's, or aesthetician's office. Charge any of these professionals a fair rent and they won't mind bringing in their own supplies/equipment.
More Clients & More Paid Sessions:
Most experienced independent trainers have a whole list of loyal clientele willing to follow them wherever they go. Often, these are at-home trainers that are looking for a single place to train all of their clients and don't mind taking a pay cut because of it (due to the percentage they now have to give you). They'll no longer have to travel from home to home and will save on related costs (car maintenance, car fuel, etc). Also, with the added time to their work schedule, the trainer will be able to complete more sessions per day... ultimately making themselves more money.
Another way of getting more clients into your studio and having more paid sessions is by not charging clients a studio membership fee. Promote your personal training studio to everyone you come into contact with and mention that there is no inscription fee. If you're worried about losing money... don't. Most of the money comes from the sessions, so focus on getting more customers in the studio and over-delivering on their expectations. You could charge the same price for personal training as large gyms that also charge a membership fee, and still have a profitable business.
If your personal training studio is at least 800 square feet then there shouldn't be a problem fitting 4 to 6 people on the training area at the same time. That means 2 or 3 trainers with their respective client. It's important to consider this because it may take 40 or 50 sessions per week for you just to break even. Have a studio schedule filled in by the trainers every week that allows for no more than 3 trainers on the floor at the same time (given that they're with no more than 1 client).
Alternative ways of personal training might boost income in your business. For example, the studio's machines could be set up in a way that allows for a type of circuit training. This will facilitate things if you are planning to let a trainer train more than 1 person at a time... Or if you eventually decide to change the philosophy of your studio to a woman's 30-minute circuit, an increasingly popular and profitable trend.
Residual Income:
Something that practically nobody considers when opening a business like a personal training studio is a means of getting residual income. Residual income is a little like passive income, except not only do you not have to actually be doing the work yourself to make money, but the sales you make today could bring you income for years to come even if you eventually close your studio.
I could suggest an excellent brand of products that you could sell from your studio. If you become an independent associate, you can enjoy wholesale prices on the products... as well as allow your customers to purchase directly from your unique distributor website (which is included with membership). To top it all off, your customers can optionally become associates themselves (while continually experiencing the benefits of a preferred client [namely receiving wholesale pricing on products), and eventually make sales through their personal distributor site... you profit from that as well.
This process of generating residual income continues down multiple levels. Many people get incredible results with these products which makes them want to sell them later. Jack Canfield, world-famous author and personal development guru, not only openly endorses these products but has actually dedicated a book entitled "Chicken Soup for the Healthy Soul" on the subject of how these products have changed people's lives for the better. Another self improvement author who endorses the products, and who happens to be one of the company's top associates/earners is Dr. John Gray (from the "Men are from Mars; Women are from Venus" series of books). It should be noted that Dr. Gray has a strong reputation as a nutrition expert. Lastly, countless professional and amateur athletes are turning to this particular brand, for improved health, lean muscle mass, level of fitness, and performance.
Click here for more information on the products as well as how you can easily become an independent associate with minimal start-up costs.
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