Your Fitness Business Breakthrough- PT is not the sole solution
Guest post by Rana Saini – Fitness Mentor at PT Mastery
So you’re in the fitness industry? Yeah?
Ok then – Stop right there and take 5 to digest this idea… your time and money depend on it.
If you can perfect your business model you can perfect your lifestyle; as a PT you have probably spent a HUGE amount of time working “in” your business.
Now, as you have created your frameworks and structured your business more it’s time to perfect your model so that you can start to work less but generate more in terms of revenue and profit.
Believe it or not, that is possible – in fact, it is what we should all be aiming for; what good is a thriving business if you don’t get to enjoy it?
That involves creating the time, space and revenue you need to make it happen.
A Typical PT Example
For argument’s sake let’s say you have 10 clients a week for your one-on-one PT sessions at $65 per hour. So you receive $650 for 10 hours’ gym time per week (Then take out tax + expenses + time for programing and marketing etc)
Many personal trainers are happy with this and can keep doing it for years, making ‘some’ money and not considering how they could be expanding their business, until those clients drift away and they realise that revenue has gradually been dropping and so the cycle of getting new clients begins again…
The time to think about working smarter is precisely when you are stretched for time and are busy with clients.
How about adding another course or program that adds value to the clients and generates more revenue for you at the same time? Lets talk EDUCATION – And you’re the EXPERT!
Exercise Is Not THE Solution – It’s PART of the Solution
There are many facets you can add to your fitness business model because exercise should not be treated in isolation as the solution in itself; it is part of the solution of health, fitness and wellness.
Emotions, stress-levels, nutrition, diet and lifestyle all play an important role and can be incorporated into any weigh-loss or fitness plan.
How about adding a focus group “product” to your business model?
Provide engaging content for the attendees to discuss and encourage bonding between them, invite industry speakers in, pass on training material and tips, share exercise programming, invite nutritionists in to talk, do some group work with them and so on.
Perhaps you create a focus group for women’s fitness that you facilitate. You charge $700 per person for a 7 week program that includes a 2 hour session each week (+ sponsorship deals and other value added benefits such as plans, guides etc); if 10 women attend then that’s $7000 for 7 weeks.
Your one-on-one PT provides only $4550 over 7 weeks, but it is taking up 70 hours of time, while the focus group is taking just 14 hours (or 21 max!) of your time!
Perfecting the Model
Using the above example, perfecting your fitness business model may involve adding more of the focus groups and doing less PT one-on-one; you can still treat the PT as your “bread and butter” or “safety blanket” but slowly migrate your business to the more profitable and less time-intensive focus groups.
Once you have your ‘Focus Group’ Systemized you could conceivably run 5 focus groups a week if you have enough clients and create enough engaging topics. Get creative with marketing and maybe use social media and word of mouth to get the message out.
As demand grows you can train someone else up to run the focus groups so your capacity again increases – to maybe 10 a week. You don’t need me to do the math on that and work out the increased profit you make!
This is just one example of how to tweak your business; you know what you’re best at and what needs to be at the heart of your business right now, but always consider what you can add to increase your revenue and use your time more effectively. Only that way will you create the lifestyle you deserve.
Check out more Fitness Profit strategy’s at www.ptmastery.com and subscribe to our fitness channel at www.youtube.com/ptmastery if you’re keen to keep ahead of the fitness business crowd. I look forward to seeing you out there!
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