Posted by When you consider the cost to the client of an hour of personal training, it must make personal training look like a very lucrative career. While there are top-flight celebrity fitness coaches and trainers bringing in the big money, most trainers are self-employed individuals who need to budget and manage their finances well. It is important to decide what sort of trainer you want to be, whether this is an overall fitness trainer or perhaps one that focuses on specific sports such as football. You will often find these coaches dressed in items from kitking such as Nike Football Kits.
Working Out The Basics
The first step is to make sure you’re making enough to cover the bills. Work out how much you need per year to live and this becomes the basis of your calculations. Now add the expenses of your career, such as studio space and gym memberships, equipment and clothing.
Then there’s transportation, insurance and professional training and affiliations. You’ll also need to know how much tax you’ll be paying in a year. Once you have this figure, you can being to work out how many hours you need to book and at what price.
Staying Competitive
Naturally, very few of us are in a position where we can name our price. However, by knowing what is essential, you can decide if you need to supplement your income when times are slow, or if you need to diversify your services.
The Hidden Cost of Being Your Own Boss
But don’t forget, there will always be the little extras. Regular clients will expect little extras such as birthday gifts, but these add up. Try baking healthy muffins instead. It’s the personal touch which is important here. And if you’re invite to the party, you should go. Your client’s friends can easily become your clients on the back of a good recommendation!
Last But Not Least
Unfortunately, sometimes clients do cancel. Make sure you have a friendly chat about this beforehand, but think twice about setting a cancellation charge. Studies show that customers are more likely to cancel if there is a fee to pay as it eliminates the feelings of obligation. But for the sake of their fitness and your bank balance, you want them to train.
No one ever said it was going to be easy, but if you love your job, it’s worth doing the financial management side of the workout too. As you know, the more often you practise, the easier it gets.