Choosing the right name is very important. We recommend checking if the business name you choose is available as a web domain and securing it early so no one else can take it. Establishing a legal business entity such as an LLC prevents you from being personally liable if your security guard company is sued.
Consider using a registered agent service to help protect your privacy and stay compliant. You will need to register for a variety of state and federal taxes before you can open for business. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
Insurance is highly recommended for all business owners. If you hire employees, workers compensation insurance may be a legal requirement in your state. Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
A business website allows customers to learn more about your company and the products or services you offer. You can also use social media to attract new clients or customers. Select your state below for an in-depth guide on completing each of these steps in your home state. One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need. Having a support network in place to turn to during tough times is a major factor of success for new business owners.
One way to stand out from the competition is to specialize in one or more areas. Finally, use the success stories of your previous clients to help sell yourself to new clients—being able to see the results you have gotten is much more valuable as a recruitment tool than anything else. As mentioned before, don't neglect traditional advertisements such as business cards, fliers, newspapers, and radio. However, social media and your own simple website are great ways to increase visibility and provide necessary info about your business.
Additionally, considering offering free workshops in places such as local gyms and community centers. This increases your visibility while highlighting your skills, which is a great recruitment tool. Finally, consider putting advertisement for your business directly on your own vehicle As mentioned earlier, consider offering promotional specials where clients can effectively save money by buying several sessions at a time.
Also, consider offering a free session or some other bonus to a client who successfully refers another client to you. In terms of retention, the absolute best thing you can do is conduct honest and open communication with clients. Listen to their specific needs and create a plan to help them realistically achieve their goals. So long as you are doing this, your work will speak for itself and they will keep coming back. The nature of a personal trainer is that they typically work solo—in fact, the notion that you are providing your specialized expertise in a one-on-one setting is a large part of your perceived value among clients.
For this reason, most trainers do not make an effort to expand their team. However, if you choose to do so, you should wait until you have more sessions than you can reasonably fit into your schedule, and start by taking on a partner.
Proven Business Models for Personal Trainers
This way, you can reasonably split duties without taking on the prohibitive cost of trying to buy or lease an office for a large group of trainers to work out of. Certain state permits and licenses may be needed to operate a personal trainer business. Most businesses are required to collect sales tax on the goods or services they provide.
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To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses. When your personal and business accounts are mixed, your personal assets your home, car, and other valuables are at risk in the event your LLC is sued. In business law, this is referred to as piercing your corporate veil. Recommended: Learn about the best small business credit cards here. To learn more about maintaining your LLC's corporate veil, read our guide and protect your personal assets.
To avoid liability and potential lawsuits, personal trainer businesses should have their clients sign a release of liability. Here is an example of one such form. Recommended: Rocket Lawyer makes it easy to create a professional release of liability form for your training business when you sign up for their premium membership. This is critical for any personal trainer. AFPA has examined many insurance organizations and has compiled a listing of those organizations that offer the reasonable rates with excellent coverage. Professional Liability Insurance organizations are listed here.
A personal training business can be run out of a gym or any large space typically indoors. Businesses operating out of a physical location typically require a Certificate of Occupancy CO. A CO confirms that all building codes, zoning laws and government regulations have been met. Also be sure to include a services contract for each client.
This contract should specify how you will help clients reach their health and fitness goals and the price of training. 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. Perhaps the greatest thing about a personal trainer business is your minimal ongoing expenses.
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. 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.
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. As your business picks up steam, don't hesitate to raise prices.
Even a modest increase in your hourly charge can contribute greatly to your bottom line. Finally, consider creating an automated payment system, as it helps establish your desire to work with regular clients and makes payment more convenient for those who are suitably committed. Will you train clients one-on-one, and also lead a group class a couple times a week? Or will you do small-group training at your gym, and supplement your income with online training? Some of the most successful businesses in the world offer only one or two products. A sharp focus lets you excel at one thing. Jot down all the expenses you need to run your business: rent, equipment, insurance, software, business license, and any administrative fees.
Add it all up, and you get your operating costs, the minimum income you need to exist. Keep in mind that some percentage of that income will go to taxes. Now tackle revenue projections.
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Make a high-low chart, with one column for worst-case scenario, and another for best-case. Your best-case scenario is what would happen if you absolutely crushed it, and kept a full book of paying clients all year.
How to Start a Personal Training Business
But this is a good start. Too many personal trainers are overly optimistic, and write up business plans that assume things will always be awesome. What would you say to that friend? Even better: Seek feedback from a fitness industry mentor or someone whose business advice you value. A neutral expert can give you much-needed perspective on the realities of running a business in an often-unpredictable world.
But as your business grows, and you have more people who depend on you, the decisions will be harder, and your appetite for risk will probably drop. Ready to get started?
How to Start a Personal Training Business | Bizfluent
Click here to download our free Personal Trainer Business Plan worksheet. A business plan is never complete. Even a successful plan will eventually run its course, and need to be updated. Since , Jonathan Goodman has been helping hundreds of thousands of trainers do better jobs, run better businesses, and have better lives. David Crump is a personal trainer, industry-recognized speaker, and fitness business consultant who helps other fitness professionals grow their business. He is the training and content manager for Fitness Revolution, where he oversees continuing education and all things start-up related.
He has helped open at least seven independent fitness facilities in addition to his own, which he ran for six years. You can keep up with him at his website , on Facebook , or on Instagram. If you want to make more money then you need this. A clear road map to building your career from the bottom up so you can find more clients, boost your reputation and make more money.
Learn how to make more, work smarter and do better. Your email will never be shared and you can unsubscribe anytime. Privacy and terms at the bottom of this page. Share this article :. Share on Pinterest. Avoid mistakes that could kill your personal trainer business with a step-by-step guide for winning new clients, earning more money, and growing your career. Know some folks who would like this article?
Or someone who needs to take a hint?! Master Your Taxes in 10 Easy Steps. Buy Now. David Crump. Share this article : Share on Pinterest. The Author David Crump is a personal trainer, industry-recognized speaker, and fitness business consultant who helps other fitness professionals grow their business.