6 Ways to Increase Personal Training Revenue
Competition in the fitness industry is growing. The market is becoming saturated according to the Bureau of Labor Statistics, with only 23,400 new jobs to be created by 2024. If you want to make an impact, it’s obvious you need to separate yourself from the competition. There are plenty of ways to diversify your business model in this industry, which is vital if you want to increase revenue. Read on to discover how to increase personal training revenue in your business.
1. Increase Your Productivity
If you think your client base is full, you are mistaken. The obvious way to boost your cash flow is to increase your client base. So how do you do that?
If you’re working for a gym, consider going solo. Freeing yourself from pre-established working hours and rules will help you work in the most convenient way for you. This will allow you to offer more training slots assuming that you are efficient with your time, while increasing your own quality of life.
Of course, being independent has its downsides:
You pay your own taxes, you’re liable for your own insurance, and you are fully responsible for your own success. If you think you’re up for this challenge, it is always smart to make a (financial) overview to see if this option is viable for your current situation.
Having the right tools can also work wonders for your productivity. Client management software can vastly reduce your admin work. Scheduling, billing, and coaching tasks can all be partly or fully automated. This leaves more time to train clients, market your business, or develop other revenue streams.
2. Adapt to Client Demand and Offer Alternatives
Not every client has the time or willpower to endure one or one-and-a-half hour sessions – especially at the start of their fitness career.
Discuss this with your clients, after which you can recommend a timeframe that suits their fitness goals and lifestyle.
Also, keep their budget in mind. Some clients may only be able to afford a 30-minute session. It’s wise to accommodate for budgets of all shapes and sizes. This will not only widen your target audience but can increase your personal training revenue as well.
For example, clients can attend 30-minute sessions more frequently than 60-minute sessions as they can easily get in a session during their lunch break.
You can also offer small group training as a cheaper alternative for your clients. This is very easy to provide when you have a scheduling software tool, as clients can select the desired workout length and group classes by looking at your availability on your calendar.
3. Diversify Your Revenue Streams
Diet and lifestyle are two challenges that clients encounter outside of the gym. We already know the benefits of combining fitness and nutrition coaching. Offering nutrition coaching as an additional service can be an easy upsell. Who better to provide this service than you? You know exactly what nutrition they require to match their exercise regime.
I strongly advise investing in a nutrition qualification if you haven’t already. Professional certification not only marks you as an expert, it reassures potential clients. Further, it can justify a small increase in price. And finally, it’s a legal requirement in some countries to be certified before you can dish out nutritional advice!
Why stop diversification at nutrition? Venture online.
Training plan software can add a new dynamic to your service offering. This type of fitness software can provide a complete client experience. Clients can visualize their progress and get detailed exercise and nutrition instructions, while you will be able to adjust their plans quickly and easily.
Online coaching in general allows personal trainers to have the best of everything: the one-on-one time with your client, the ability to monitor and control other aspects of their fitness journey, and the added flexibility of being able to provide services anywhere, anytime.
Related: The Future of Client Coaching
4. Upselling to Existing Clients
People work out with you because they see you as a credible source of information. There are always add-on products or services you can provide to your clients. You need to find the products or services that speak to your audience to offer as cross-sells or upsells.
Wearables and body composition monitors are a great option, since they’re becoming increasingly popular and actually provide many benefits for both trainer and clients. Fitness trackers, for example, helps remind your client to keep constant and motivates them to reach their goal via for example steps, distance walked or calories burned. Body composition monitors can help the personal trainer monitor the changes in their client’s body and adjust their nutrition or workout plan based on the client’s goals.
Another option is to create your own merchandise and market your business as a team. Workout shirts, water bottles, and accessories are some examples of merchandise that you can offer. People enjoy being part of a team so provide them with something that makes them identify themselves with the team. This will not only give you an extra source of revenue but it will also increase client retention and acquisition if you market yourself correctly.
Marketing is the key. Before pushing your products you should educate yourself about how you want to market your business. If the only thing you focus on is pushing products to your clients to increase your personal training revenue, this might end up backfiring and you might lose your credibility.
Educating yourself about different marketing techniques will help you in many aspects of your business.
5. Incentive Deals
Pushing a complete package with a suitable discount can be a very attractive offer. Regardless of ability, we all love saving money.
Training, nutrition advice, accessories, and supplements can create a tasty “all-in-one” package. It’s an affordable introduction for those who may not usually take an interest in any of these products separately.
You can offer these packages on your own personal training webshop as this will make it easier for you and the clients. At the same time, you can give your clients the option to create their own package to include what they want and can afford at the time.
Offering a variety of deals and packages can widen your appeal. This is a great strategy to entice clients looking to get the most value for their money, and to increase personal training revenue in your business.
6. Give Flexibility with Payment Plans
Offering different payment methods can help increase personal training revenue. If clients can break up their payments in more manageable sums, they’re more likely purchase. With this approach, you open your services up to new, less affluent markets.
Even if this client segment has less to spend, they may be more willing to invest in training if they can pay gradually.
It does make sense to combine this with long-term buy-in. For example, offer 6 or 12-month packages payable in multiple installments, but limit shorter periods to lump sum payments.
Key Takeaways to Increase Personal Training Revenue
To increase personal training revenue, explore options you may not have considered before.
Technology is your best friend when it comes to making more time for clients. It can manage bookings, deal with admin and free up more time for training with clients. And the more time with clients, the bigger your pay packet.
Become the master of your craft by becoming as efficient as possible. Then, take on board the points we’ve looked at here to explore which avenues you can use to maximize your cash flow.