Why you’re over worked & not making over $100,000 per year in your solo PT business & how you can change that in 2 easy steps
Times can be tough for everyone in any industry. We can have slow times and we can have fast and highly profitable times.
The question here is simple: How luxurious or how minimal do you want your life to be and what dollar value do you give “luxurious” and “minimal”?
My question to you is: Are you consistently earning a minimum of $100,000 a year within your PT business? If not, WHY?!
Firstly, ask yourself this: Am I charging my clients money for my TIME as their PT, or am I charging them for a coaching EXPERIENCE? If you’re charging clients for your time, then your income is limited to the time you can put in with clients
BUT, if you’re charging for a coaching experience, then your income can amplified!
Here’s how it works:
Money for TIME: If you can do 30 hours a week of 1:1 PT, which excludes time spent on the back end and improvement of your business, that’s 30 hours x an average of $60/hour. That comes to a total of $1,800.
Not bad for 40 – 45 hours of work, but remember, how long can you sustain 40 – 45 hours a week of intense work for medium rate pay until you throw in the towel? It’s easy to burn yourself out by just servicing a large volume of clients!
Money for a coaching EXPERIENCE: Once you’ve done a complimentary session with a lead, instead of trading your time for their money, you offer them your coaching experience! What is a coaching experience? Well firstly, it’s something which I can charge a minimum of $1,680 per client for a 12 week experience. On top of that, because my coaching experience has such a high retention and result rate, very few clients ever drop off! So, let’s just say I have 15 clients, each doing 1 hour a week with me plus all the other exclusives I give them from the coaching experience (which isn’t costing me time) and I am charging them all $1,680. That’s $1,680 x 15 clients = $25,200 / 12 weeks = $2,100 per week for 15 hours a week of 1:1 PT plus 10 – 15 hours of back end work, so still under 30 hours a week of total work.
$2,100 x 52 weeks a year = $109,200
Now, that’s the breakdown of the two, so how can you put this into action for yourself?
Here are two easy steps to take:
Step 1. Look at everything you can offer your client and start bundling it together as a package, instead of just your time for money. If you own a massage gun, then include that as part of your package. If you have a relationship with a supplement shop or the coffee shop next door, look at how you can get discounts or exclusive offers for your clients and include that as bonuses ( I get “free” coffees for my clients at the coffee shop next door, then pay the owner cost price for the coffees, so it’s a win-win for everyone).
All you’re trying to do here is stack the number of services you can offer your clients instead of just offering your time for money, it’s that simple!
Step 2. Implement an actual coaching program where the duration is a minimum of 12 weeks long – nothing less than that!
Why? Well, do results come after 1 week, 2 weeks or even 4 weeks?
NO! Serious results come over a minimum of 12 weeks, so start getting people to commit to that and explain why it’s important to start with a 12 week block instead of week to week.
You also want to then offer a slight discount if people pay in full.
For example, your clients week to week PT payments may end up being $180, but if they PIF it ends up being $40 less per week and $480 less overall ( $180 x 12 weeks = $2,160 OR PIF of $1,680 / 12 = $140 per week).
People LOVE a great deal and great value, so give it to them! Remember, personal training IS PERSONAL, so make your coaching programs, offers and sessions ALL PERSONAL to your individual client!
Keep believing in yourself and your end goal!
To Your Success
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Blog Distributed by: Matt Papallo
PT Startup To Success Founder & Mentor
About Matt Papallo:
Matt is a rent based PT living in Sydney and is one of the few (possibly the only one) to rent out an office within an Anytime Fitness to operate a dual business – PT & Remedial Massage Therapy – all whilst having other PT’s operate within his brand, MP Living. The founder of The PT Startup To Success System, which is designed to help fellow rent based PT’s to become booked out with 1:1 clients, earning over $2,000 + per week, only working 4 ½ days a week – all whilst saving PT’s over $100,000 & 5 years of “trial and error” in mistakes.
Matt still operates his PT business and PT Mentoring business – both full time – and still manages to train himself as a competitive Boxer 5 days per week and still has time to relax and recharge with his fiancé and two Toy Poodles (Groot & Rocket)
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