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What is a Personal Training Business?
With more people than ever being conscious of living a healthier lifestyle and improving their fitness, now could be a great time to set up a personal training business.
A personal trainer works with individuals and groups of people and helps them to achieve their fitness and health goals.
This could include:
- Facilitating a healthier diet.
- Guiding them with weight loss.
- Assisting with strength training and the strengthening of their cardiovascular capability.
- Improving a client’s muscular endurance or speed.
- Assisting with toning and increasing a client’s flexibility.
- Assisting with health management.
Personal trainers offer each client a personalised experience with custom workouts and diet tips depending on their current health and their health and fitness goals. Every client could have a different level of fitness and different health concerns and difficulties. This means that the type of personal training offered will vary from client to client.
A personal trainer will have different responsibilities, including:
- Evaluating clients’ fitness levels, health conditions and goals.
- Creating tailored workout routines and exercise programmes for each client.
- Creating nutrition plans (if necessary).
- Teaching clients the correct (and safe) way to use the workout equipment.
- Teaching clients the correct way to perform specific exercises, including correct form and posture.
- Providing clients with feedback.
- Giving motivation during sessions and at other times.
- Monitoring clients’ progress.
- Educating clients on health and fitness.
- Provide assistance with health and nutrition plans.
You can work with your clients one-to-one or in a group setting. You will also have the option of running exercise classes, attended by larger groups of people.
As a personal trainer, you will be expected to have expert knowledge of nutrition and exercise and the use of exercise equipment, such as weights, cardiovascular machines and muscle-strengthening machines. You may also require knowledge of floor exercises, including stretching, toning, yoga and Pilates.
If you are considering starting up a personal training business, you will have several options available to you. You could focus on a specific type of business or offer diversity.
Some of your options include:
- Working in one specific gym or fitness centre.
- Offering at-home personal training in your clients’ homes.
- Travelling with clients so they always have access to personal training.
- Working as an online personal trainer.
- Working for a business, company, educational establishment or another establishment.
If you are considering starting up a personal training business, you will need to ensure you have a good understanding of health, fitness and nutrition. Maintaining a good level of fitness yourself is also recommended, as not only does this set a good example to your clients, but you may also be required to work out with your clients or demonstrate exercises to them.
Personal trainers also require good communication skills, patience, empathy and the ability to inspire, encourage and motivate their clients. Good timekeeping and organisational skills are also recommended. If you think you have the necessary skills and knowledge to become a personal trainer, read our full guide below, to help you achieve your dream.
Types of Clients
Personal training clients usually fall into a specific category:
Performance clients are usually athletes or aspiring athletes. They often participate in sports or running and want to improve their performance or compete at a higher level. Performance clients are usually very dedicated and may already have a good understanding of exercise and nutrition.
These clients are aiming to improve their physical look. They may want to appear slimmer or more toned and are mainly focused on their physical form. Physique training could also include training bodybuilders who need to look more muscular. Physique training will include assisting with both diet and exercise. Physique training could also include Body Recomposition, which is a weight loss approach that focuses on losing fat and gaining muscle.
Fitness clients are extremely diverse. They want to improve their physical fitness but may focus on their overall fitness or a specific type, such as their cardiovascular fitness or muscular fitness. Fitness clients may want to lose weight, improve their health, or improve or maintain their fitness. Many fitness clients enjoy exercising but don’t want to push themselves to the next level by performing in races, competitions or sports.
4. Mental wellbeing:
Some clients start in this category before moving into another category. They may begin working with you to help with stress relief or to improve their mental health or wellbeing. They then often find that the endorphins released during exercise and the changes they feel and see in their body and fitness inspire their fitness journey to continue or intensify, or change the type of training they do.
5.Weight loss or fat loss:
In many cases, this type of client is either new to exercising or hasn’t exercised for some time. They may want to lose weight or fat for health reasons or aesthetic reasons. You will need to help them establish exercise routines and improve their diet.
You could choose to specialise in one type of client or offer personal training to a variety of types. Determining which category each client falls into is essential for ensuring you offer a tailored programme that is customised to their health and fitness goals.
Equipment You Will Need
The type of equipment you will require depends on where you run your business from. For example, if you operate from a gym or fitness centre, you may be able to utilise their equipment and may not need to purchase some of the equipment yourself.
Below is a complete list of equipment typically required by personal trainers. Consider how your business will operate when determining what equipment you require.
Personal trainer software
This can be used to schedule training sessions, track your clients’ progress and manage your business. You will also have the option to live stream personal training sessions so your clients can access your sessions from home. Some types of software also have marketing features to help you grow your business. Prices start at £15 per month.
A client logbook allows you to keep physical, written records about your clients’ sessions and progress. This can include the number of sets or reps they achieved and any weight loss or muscle gain. A physical logbook not only looks more professional compared to using your phone during sessions, but it can also be motivating to your clients when they can see a physical record of their progress. Logbooks can be purchased for as little as £5.
These forms should be completed by new clients during your client consultation. It should include their personal details, emergency contact information, known health conditions and injuries and their personal training goals. You can create client forms yourself and print them out at minimal cost.
This allows you to track your clients’ progress. Choose scales that also measure body fat, lean mass, muscle gain and BMI to allow you to more accurately track progress. This type of weight scale typically retails for between £50 and £150.
Callipers measure the thickness of the fat underneath your skin (the subcutaneous fat). It helps you to measure the total amount of body fat. Skinfold callipers allow you to measure your clients’ fat loss progress over time. They typically retail for between £100 and £200.
A measuring tape
You will need to take your clients’ measurements when they first begin working with you and periodically after this. Measuring tapes are a low-cost piece of equipment, with prices starting at £2.
A blood pressure monitor
This helps to ensure your clients are safe when exercising and don’t have any underlying health conditions that they are unaware of. Digital blood pressure monitors can be purchased for between £20 and £200.
A first aid kit
In case of an accident or injury, a first aid kit is an essential piece of equipment. You may have to treat cuts, grazes, sprains or swelling, or even treat a more severe injury before professional medical treatment is sought. A fully stocked first aid kit can be purchased for approximately £15.
A website is useful for advertising your business. It should contain your contact information, your experience and areas of expertise, your training and qualifications, where you operate, the typical services offered and your client reviews. Design your website to include your business logo and to reflect your branding.
Business cards are an important marketing tool and can be given to new or existing clients. They should include your business name, contact information and the types of services you offer.
A stopwatch allows you to time your clients’ exercises and activities. A stopwatch looks more professional than using a phone. Stopwatches can be purchased for £5.
These are vital for any floor work such as Pilates, yoga, planking and crunches. They help to prevent slips and falls and can prevent injuries. A strong reliable exercise mat typically starts at £20.
These can be used to build muscle, strength and power. They can be thrown around without causing any damage to property. Medicine balls are available in different weights, typically from 3kg to 12kg. The cost of one medicine ball ranges from £10 to £40.
These are often used to strengthen and stretch the body, improve core stability and improve balance. You may use them as part of your warm-up and cool-down routines. Prices range from £5 to £40.
Kettlebells are one of the must-have items for personal trainers. They can be used to improve arm, shoulder and core strength, balance and coordination. They are great for fat loss and building muscles. You will need a set of kettlebells ranging in weight, with weights usually ranging from 4kg to 24kg. A set of kettlebells can cost between £50 and £450.
Dumbbells are similar to kettlebells, except they have a thicker handle for better grip and different weight distribution. Dumbbells are typically used for creating more muscle mass. A set of dumbbells can typically be purchased for between £50 and £150.
A suspension kit
A suspension kit can be used for bodyweight workouts. They comprise anchored straps, handles and foot stirrups and allow your clients to build their strength and core stability and improve their balance and mobility. Prices typically start at £25.
Boxing pads and boxing gloves
Boxing is a popular form of exercise and is a great way to directly engage with your clients’ workouts. A complete set of boxing equipment typically starts at £25.
Skipping ropes are a great cardiovascular exercise and can improve your clients’ stamina, strength, stability, balance and coordination. They can also be used as part of your warm-up routine. Skipping ropes can be purchased for £10.
Foam rollers are great for cooldowns as they can help to relieve muscle tightness and soreness and reduce inflammation. Foam rollers typically start at £10.
Lifting straps are great for your clients who are trying to build muscle and increase their strength. Lifting straps act as a support when lifting heavier weights and help to protect your clients’ hands. Prices start at £5.
Step-up boxes help to work out muscles such as the quadriceps, hamstrings, glutes and calves. They typically retail for between £15 and £30.
Resistance bands are available in an assortment of different strengths. They can be used to strengthen muscles and tone the body. Prices start at £10.
When planning your personal training business, is it essential that you calculate the estimated costs of setting up and running your business.
Calculating your expected costs can help you to better plan your business’s finances, estimate your monthly and annual costs and determine how much initial investment your business requires.
Some typical costs you can expect when setting up and running a personal training business are:
Your equipment will likely be your biggest expenditure. The type of equipment you require and the associated costs will vary depending on the type of personal training business you set up. To reduce your start-up costs, you could buy only essential equipment initially and then purchase more equipment as your business grows. You can expect to spend between £200 and £2,000 on equipment.
If you need to transport your equipment between clients or venues or need to take your equipment home at the end of each working day, you will need a vehicle. Depending on how much equipment you require and the size of the equipment, you may be able to use your current vehicle. If not, you may have to invest in a larger business vehicle. The cost of a vehicle can vary depending on the make and model, and whether it is new or used.
Maintaining, repairing and replacing equipment
Repairs, maintenance and replacements are ongoing costs you will need to factor into your budget. Correctly cleaning and maintaining equipment and ensuring it is used correctly can extend its life, but repairs and replacements are still inevitable, as using unsafe equipment could be dangerous.
Branding can help you to establish your personal training business’s identity and help your business to stand out from any local competition. Branding could include creating your business’s visual identity, a logo, your business name and your business website. You can hire a professional to help you with branding or do some of the work yourself. Branding can cost between £500 and £5,000, depending on the amount of branding you require.
Marketing and advertising
This can help you to attract clients and grow your business. You may require more advertising and marketing when your business first launches. It is recommended that you spend no more than 1%-3% of your annual revenue on advertising costs, for example, if you make £40,000 per year, you should spend between £400 and £1,200 on advertising. Some of the ways you can advertise are via your website, in local gyms and fitness centres, through leaflets, posters and business cards and via social media. As your business grows and you build your client base, you may be able to reduce your advertising costs.
You will need to enrol on several training courses in order to operate safely as a personal trainer. The costs of training courses can vary but prices typically start at £20 per person per course.
You may initially operate your business independently and then hire staff as your business grows. You could hire staff as permanent employees or as independent personal trainer freelancers. If you hire staff permanently, you will need to pay them at least the national minimum wage of £9.50 per hour and account for other expenses such as holiday pay, sick pay and maternity/paternity pay.
There are several types of coverage you could choose for your personal training business. Prices can vary depending on your insurance provider and the level of coverage you choose.
Business insurance typically chosen by personal trainers includes:
- Public Liability Insurance.
- Employers’ Liability Insurance.
- Business Vehicle Insurance.
- Personal Accident Insurance.
- Equipment and Stock Insurance.
- Professional Indemnity Insurance.
Once you have calculated the typical costs associated with setting up and running your personal training business, you can then determine your pricing.
The majority of personal trainers charge per hour, although you may choose to charge per course. In order to attract new clients, you could offer discounts for booking a block of sessions. Your prices can also vary depending on whether you offer 1:1 or group sessions.
On average, personal trainers charge between £20 and £60 an hour.
However, your pricing can be affected by factors such as:
- Your location – prices are usually higher in city-centre locations.
- Your qualifications and training.
- Your experience.
- Your reputation.
- The type of training you offer.
- The venue you operate from.
Safely Running a Personal Training Business
Personal training, exercise and fitness can be a high-risk business. Accidents and injuries are common, whether from unsafe equipment, improper techniques, carelessness or unsafe practices.
Implementing safety procedures can help protect you, your business and your clients.
Some ways you can safely operate your personal training business include:
Properly maintain and set up equipment
Ensuring equipment is properly maintained, correctly set up and stable and safe to use can help to protect your clients from accidents or injuries. This is particularly important when using heavy equipment or moving equipment, such as exercise machines and weights. You should also perform regular equipment inspections to ensure your equipment’s safety and help to extend the lifespan of your equipment.
Register with a relevant body
Joining a professional register not only displays your professionalism but will also provide you with professional recognition, offer you continued professional development (CPD) and ensure your business and the industry is regulated.
There are several registers you can choose from, including:
- The Chartered Institute for the Management of Sport and Physical Activity (CIMSPA).
- The Register of Exercise Professionals (REPs).
Ensure all clients complete disclaimer forms
Any individual who engages in activities with an element of risk should complete a disclaimer form. If your client becomes injured during a session, a disclaimer form is a legal statement that limits your liability. Ensure you go through the disclaimer form carefully with every client and that they sign and date the form.
Complete a fitness assessment form and a Physical Activity Readiness Questionnaire (PAR-Q)
These forms allow you to establish your clients’ general health, including any health conditions, injuries and illnesses. They also allow you to record their health and fitness levels and exercise capabilities. Not only can these forms protect your clients, but they can also protect you and your business in the event of an injury.
Obtain emergency contact information and medical information
In the event of a serious injury, this will allow you to contact your client’s next of kin or inform medical professionals about any known allergies or health conditions.
Carry out risk assessments
Although risk assessments are only a legal requirement for businesses with more than five employees, they can help to ensure the safety of you and your clients. Risk assessments can help you to identify any potential hazards and risks in your business and how these can be reduced or eliminated.
As part of your risk assessment, you should:
- Identify hazards.
- Determine who could be at risk.
- Evaluate any potential risks.
- Implement relevant safety measures.
- Record the results of the risk assessment.
- Review the risk assessment regularly.
You may need to update your risk assessments if you get new equipment or if an accident or injury occurs.
Obtain health and safety training
Health and safety training can help to ensure safe practices at all times. As well as basic health and safety training, you could also obtain training on Fire Safety, Manual Handling, Assessing Risk, and PUWER Awareness. Consult our website for a complete list of health and safety training.
Implement cleaning policies and procedures
Strict cleaning procedures must be in place at all times, especially as many of your clients will use the same equipment. You should clean, disinfect and sanitise all equipment and surfaces between every client and then perform an intensive clean at regular intervals, such as every day.
Complying with legal requirements is essential for all businesses in the UK.
When operating your personal training business, some of the legal requirements you will need to adhere to are:
Obtain a personal trainer qualification
Most gyms, fitness centres and other establishments will require you to have a qualification in order to practise as a personal trainer. In fact, in many venues, you will not be legally allowed to work as a personal trainer without these qualifications.
Suitable qualifications include:
- Level 2 Fitness Instructor Certificate.
- Level 3 Personal Training Certificate.
Obtain a first aid certificate
You will need a valid first aid certificate in order to work as a personal trainer. Most first aid certificates are valid for three years, after which you will need to attend a refresher course and be awarded a new certificate.
Comply with the Provision and Use of Work Equipment Regulations (PUWER) 1998
These regulations apply to you and any other personal trainer you work with. You must ensure that any exercise equipment is fit for purpose, is maintained and inspected regularly, that health and safety risks are minimised to an acceptable level, that you have the correct knowledge and training to use the equipment, and that protective measures are put into place. You must also ensure the equipment is used under appropriate conditions.
Comply with the Workplace (Health, Safety and Welfare) Regulations (1992)
Under these regulations, if your business has five or more employees you must ensure you conduct appropriate risk assessments, minimise any risks and maintain all equipment. Under the regulations, you must also make sure high levels of cleanliness are maintained and you have appropriate spacing. If you operate your business out of an existing gym or another venue, you will still need to ensure you comply with these regulations.
Comply with the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations (RIDDOR) 2013
RIDDOR states that you must report all injuries, diseases and dangerous events that occur when your business is operating. Reports must be made to the Health and Safety Executive (HSE) using an appropriate recording document. This includes injuries that occur during workouts.
Comply with the Manual Handling Regulations (1992)
Manual handling is an inevitable part of personal training. You could be handling large or heavy equipment and supporting the weight or movement of your clients. Following manual handling regulations can help to protect you and your clients from sustaining an injury or illness as a result of manual handling tasks.
Comply with the General Data Protection Regulations (GDPR) and the Data Protection Act (DPA)
You must comply with both pieces of legislation when storing or sharing personal information, such as your clients’ contact details. You must also apply for a Notification to Process Personal Data Licence. If you process or store personal information such as client accounts and records, you will need to apply for a licence with the Information Commissioner’s Office and renew your registration every year.
Obtain a permit if operating outdoors
If you conduct any of your sessions in outdoor spaces, such as public parks and green spaces, your local authority may need you to obtain a permit (commonly known as a Personal Training Park Permit). The requirements can vary depending on where you live so contact your local authority for more information.
Obtain a criminal record check
If you train any children or vulnerable adults, you will need to apply for a criminal record check to prove your suitability.
The type of check you require depends on the country you live in:
- England: Disclosure and Barring Service (DBS).
- Wales: Disclosure and Barring Service (DBS).
- Scotland: Protecting Vulnerable Groups (PVG) Scheme.
- Northern Ireland: AccessNI.
Apply for a music licence
If you play music during any of your workout sessions, you will need to apply for a Licence to Play Background Music from the PPL PRS and pay an annual fee.
Implement or follow health and safety policies and fire procedures
All businesses should have health and safety policies that help to manage health and safety in your business. You are also responsible for fire safety on your premises including conducting fire risk assessments and implementing fire safety measures and emergency procedures. When operating in other locations or venues, be aware of any emergency procedures you may need to follow.
Register your business
You must register your business with HMRC before you begin operating. You can register as a sole trader or as a limited company. You will need to register your business name and any other relevant information.
Register for self-assessment tax
This allows you to calculate and pay your own taxes each year. You will need to track your finances every month and submit any expenses as part of your tax assessment.
Positives of Owning a Personal Training Business
There are some great pros to owning a personal training business, such as:
Your working hours will be completely in your control. You can choose to work weekdays or weekends, mornings or evenings, split shifts or full shifts, part-time or full-time. You could even choose to change your working hours regularly.
Make a real difference in people’s lives
Helping someone to improve their health, meet their fitness goals, improve their nutrition or succeed in a competition or race can be extremely rewarding. People with better fitness and nutrition usually have fewer health concerns and a longer life expectancy, meaning you can make a real difference in the lives of your clients.
Do what you love
Personal trainers usually love fitness and exercise and genuinely enjoy what they do. Being able to expand your education and knowledge, help people achieve their goals and exercise every day is a huge advantage to many trainers.
Stay physically fit
To succeed in your role, you will need to maintain a good level of physical fitness. You will spend a lot of your day helping your clients with exercise, demonstrating exercises, using machines and even leading exercise classes. You won’t be stuck behind a desk being sedentary for hours at a time, unlike many other professions. This can be beneficial to your own physical fitness and overall health.
It can be very rewarding
Seeing the difference you make in people’s lives can be very rewarding. You will witness the changes in people’s fitness, health and even their confidence, state of mind and wellbeing. This can be extremely rewarding.
Unlimited earning potential
You can set your own fees and take on as many clients as you choose. As your business and reputation grow, you can begin to charge higher prices. You can also expand your business by offering online sessions or hiring other staff. A personal training business can be an extremely lucrative enterprise.
Choose the type of personal trainer you want to be
There are many categories of personal trainers, and you can choose the type of business you want to run. Whether that’s a traditional personal trainer working in a gym, an at-home or online personal trainer or a trainer working in a non-traditional environment. You could also choose to specialise in a specific type of training, such as boot camp, weight management, or yoga instruction.
Constantly gaining new skills and knowledge
The personal training industry is constantly changing and improving, and you will always have the opportunity to improve your skills and knowledge. New equipment, nutrition and diet plans and types of exercise are frequently introduced, and you will have constant access to resources.
Build your network
You can connect with like-minded professionals and other individuals or businesses working in your industry. This allows you to create a network and build your business.
Low start-up costs
A personal training business is a low-cost enterprise. You will have relatively low start-up costs and running costs, allowing you to maximise your profits and increase your income.
Work within your local community
Many personal trainers operate within their local area, for convenience. Not only will this allow you to make connections within your local community but it can also benefit both your personal and professional life.
Meet interesting people
You will meet a huge variety of people, with clients from different walks of life. As you will be spending a lot of time with your clients, you will likely get to know them, creating some great professional and personal relationships and learning about people from different backgrounds to you.
Client loyalty and recommendations
As you will spend a lot of time with your clients and they will place a high level of trust in you, you will hopefully experience client loyalty. As your clients see improvements in their fitness and health, they may also recommend you to their family and friends, helping you to grow your business.
Pick and choose your clientele
You can stop working with a specific client whenever you choose or choose not to take on a particular client if you are already too busy or feel like you cannot help them.
If you enjoy being around other people and connecting with new people, running a personal training business can be extremely rewarding. Most of your day, every day, will be spent with other people and you can meet lots of people in your local community.
You are your own boss
As the business owner, you can create your dream business, choose the type of personal training you will offer, choose your venue and choose your clientele. You will also have the power to design your own schedule.
Negatives of Owning a Personal Training Business
However, there are some negative aspects to running a personal training business that you should be aware of:
You may have to work unsociable hours
Although you can design your own schedule, personal trainers are most in-demand in the early morning or the evening and at weekends, when people are not at work and are more likely to go to the gym. To make your business succeed, you may have to work odd hours that are unsociable.
Lack of job security
As you will not be in a contract with any of your clients, they can choose to stop working with you at any time. Many people hire a personal trainer with the best intentions but then give up when they don’t see fast results. This means you have no guarantees for future work and could find yourself losing clients and losing income.
Lack of benefits
Not only will you not have a guaranteed income, but you also won’t receive benefits such as holiday pay and sick pay and pension contributions. You will also be responsible for paying all of your taxes yourself.
It can take time to build your business
Many personal trainers have to start small. It often takes a while to build your reputation and increase your client base. This could mean your profits are initially low.
It can be difficult to maintain your business long term
As you get older, working as a personal trainer can become more difficult. It may be more difficult to maintain a high fitness level and you may find it more difficult to attract new clients.
Personal training can be extremely competitive, with there already being many successful personal trainers and personal training businesses. This can make it difficult to attract clients and even force you to lower your prices. Working in a competitive industry can also make it more difficult for your business to stand out.
Some of your clients may expect you to create instant results and may be disappointed when they don’t immediately see changes in their fitness and physique. They may stop working with you or leave negative reviews, which can have a detrimental effect on your reputation and income.
Work can be inconsistent
Personal trainers are usually busier at certain times of year compared to others. For example, many people join the gym in January or start exercising in the lead up to summer. This could mean there are other times of the year when you have fewer clients and your income is impacted.
A personal training business has many potential risks that could result in liability issues for you and your business. This could include accidents or injuries and the risks associated with using certain equipment. Not only can this be stressful, but it can also be detrimental to your business.
It can be stressful
As the business owner, you will have the sole responsibility of trying to make your business succeed. You will have a lot of important responsibilities, such as ensuring health and safety, advertising and marketing, creating health and fitness plans, training the clients and ensuring they are satisfied. This can be emotionally demanding, time-consuming and stressful.
Risk of your business failing
Starting up a personal training business can be risky. Many new businesses fail which could result in you losing money or getting into debt. Your business could fail for several reasons, such as high local competition, an ineffective business plan or if the UK encounters another recession or period of financial difficulty.
Planning Your Personal Training Business
If you are considering starting up a personal training business, an effective and well-designed business plan is essential. A business plan can help you to focus on the specific steps that will help your business succeed and grow. It can also help you to plan your short-term and long-term business goals and create your financial forecasts.
When creating your business plan, ensure it contains information such as:
- Your company information.
- Your company description.
- The services you will provide.
- Your branding, marketing and advertising plan.
- The structure of your business.
- The operational plan for your business.
- The financial plan for your business.
Some of the factors you need to consider when creating your personal training business plan include:
What type of personal training business will you run?
Will you operate out of a gym or fitness centre? Will you offer at-home or online training? Will you operate independently or in conjunction with another business or establishment? Deciding the type of business you set up will help you design your business brand and determine your target audience.
What type of training will you offer?
You may choose to specialise in a specific type of training or focus on a particular type of client, for example, training bodybuilders or athletes. Alternatively, you may offer broader training options to a variety of clients. Consider your qualifications and experience and your local competition when determining the type of training you will offer.
How will you attract potential clients?
Your marketing and advertising strategies will vary depending on the type of personal training business you set up. You could receive some clients through word of mouth recommendations, but you will also need an effective advertising plan. You could promote through social media, partner with other professionals in your industry, advertise in local fitness centres and give out leaflets.
What qualifications and training courses will you choose?
You will have several options available to you. Determine which qualifications will most benefit you and your business and which will be most attractive to your clients.
What are your equipment requirements?
Consult the list above to determine your equipment requirements. The equipment you require will depend on the type of personal training you specialise in and whether any equipment is available to use at your chosen venue. Once you have determined your equipment requirements, you can then calculate the initial costs of purchasing the equipment and the costs of repairs and replacements.
What are your initial set-up costs and running costs?
You need to determine your approximate start-up costs and running costs to enable you to calculate your initial investment and what your monthly or annual running costs will be. Creating a budget is a key part of your business plan. It can also help you to determine whether you can finance the business yourself or whether you require outside investment. Consult the list above to help you calculate the approximate costs associated with setting up and running your business.
What is your pricing strategy?
Once you have calculated your approximate costs, you can then determine your pricing strategy. You will need to decide whether to charge by the hour or per course. Your pricing will depend on multiple factors, such as your location, experience and the type of training you offer. You may want to consider offering discounts to help you attract new clients.
What are your sales forecasts?
You will need to determine how many clients you can feasibly take on each month and what your weekly, monthly and annual sales forecasts will be. As your business grows, your sales forecast will change. Your sales forecast and pricing strategy can be used to calculate your profit forecast.
How will you grow your client base?
An important consideration when planning your business is your strategy for growth. It can be difficult to grow your client base, especially when your business first launches. Creating a strategy for growth can help you to plan ahead and make it more likely that your business will succeed. Your strategy for growth is a key part of your one-year, three-year and five-year business plan.
What local competition do you have?
Analyse your local competition to help you determine how to make your personal training business successful. Look at the types of training they offer, their equipment, their price points and their marketing. You can then decide how to make your business stand out and how to attract clients. Investigating your local competition can also help you to confirm there is a market for your business.
What are your business objectives?
Determining your business objectives is an essential component when creating your business plan. Your business objectives highlight the targets and goals of your personal training business and help you to create a one-year, three-year, and five-year business plan.
Your business objectives should be SMART:
- S = Specific
- M = Measurable
- A = Achievable
- R = Realistic
- T = Time-bound
Have you complied with all legal requirements?
Consult the list above and ensure you have complied with all legal requirements before opening your personal training business. Failure to comply with the legal requirements could negatively affect your business and your profits.