More money in less time? Yes please.
Let’s not beat around the bush, the state of the economy isn’t great and we are all feeling the pinch in one way or another.
As fitness professionals we know how important our services are for the health and wellbeing of our clients. However, at an average of £30-£50 per hour, our services are seen as ‘luxury’ items and are in danger of being dropped by money-conscious clients.
I am going to use some basic figures to show you how and why Small Group Training (SGT) could make you a very successful Personal Trainer.
If I charge £40 per hour, and train my clients three times per week – I need 5 clients to earn £600 per week (5 people x 3 sessions x £40 = £600). This will take up 15 hours of actual training time, plus around the same amount of time for planning, preparation and setting up time. Not to mention, there will be long gaps in between these sessions which will mean you would be doing roughly 40 hours per week in total. This is a nice modest income for doing something that you love, but what happens if you can’t find 5 clients who can now afford to pay £120 a week???
You could lower your prices? But nobody wants to be seen as a ‘cheap’ trainer – you have a reputation to uphold and you don’t ever want to lower your hourly rate.
Instead you just need to think smarter. I bet you could find a lot of people willing to take advantage of your expertise for £15 per session. How about if you trained them in a small group? Small Group Training is becoming really popular and you can take advantage if you act quickly before everyone starts doing it. Not only is it cheaper for the client, but it’s more fun for them to have some competition during sessions. If you have 5 people training together, three times per week at £15 per session, you make £225…in three hours of training time!!
Now, imagine if you had 5 of those groups running at full capacity…£1125 per week for the same amount of work you were doing for £600. The only catch is you would need to find 25 people willing to pay £45 a week for your services.
The reality is you only need to find 14 people to make more money this way than you were making with the 1:2:1 system. But think about how many more referrals you will get working with small groups rather than individuals? Having 5 clients paying full price at the beginning was good, but you only have 5 ‘salesmen’ selling you to their friends/colleagues – with a hefty price tag too. Imagine how easy it would be for 10 ‘salesmen’ to sell you to their friends/colleagues with a much lower price tag?
If you are as good as you say you are, and people enjoy your sessions as much as you think they do, you can easily change your business model from 1:2:1 to SGT and almost double your income in the mean time.
No need to thank me, you haven’t got time – you have a new business model to implement!!
Written by @marklaws2011