Personal Trainer Business Tips
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The job market for personal fitness instructors is expected to grow faster than the average for all other occupations between now and 2026.
Are you new to becoming a personal trainer? Are you figuring out your pricing structure to maximize business and your personal trainer salary?
Do you want your name to come up when someone asks:
Setting the right personal training rates is essential, and it can be tricky. Read on to learn how to set your personal training rates.
Setting Your Personal Training Rates
Whether you are setting up your own business or freelancing at a gym, you need to consider the following factors.
1. Know Your Worth
One of the first steps to fix your rates is realizing your worth. You have to believe in yourself and have the confidence to charge what your services warrant.
Multiple factors that will decide how much you can and should charge for your personal training services include:
These are just a few questions you should ask from yourself to identify where you sit on the market.
2. What are Your Personal Costs?
Another critical element of setting your fitness package prices is to make sure you can cover your personal essentials, your business costs and make some profit that you can invest back into your business for growth.
Understanding your numbers is vital, so you know the minimum you need to earn to stay passionate about the profession.
Recommended Course: Money and Finance
3. Investigate What Others in Your Area Charge
Your competition doesn't have to be your enemy. Other local fitness businesses can teach you how affluent the local market is if you do some research.
Visit other gyms and studios. Look at websites of personal trainers in the area. Shop around to see what others are charging.
If you aim to conquer the online space, find out who else is out there offering the same or similar services in your niche. It will help you understand how hard you need to work on your marketing strategy to get your name out there, but you will also learn how much you can charge for your skills and expertise.
Recommended Resource: Online PT Price Calculator (accessible with a free iPT Membership)
4. Consider the Demographics
Are you in a large, metropolitan area, a suburb, rural area or small town? This makes a difference.
Factor in the cost of living. In areas where the cost of living is pretty high, trainers can charge $100 to $200 per hour. When the average cost of living is lower, you can expect to charge between $40 and $60 per hour.
Another important aspect is the age of the population you are targeting. 20 years old youngsters will be in a completely different financial situation than established high performing professionals 35+. Assess your business plan so you know what you can expect.
Different Approaches to Pricing
Setting up your pricing structure with different options takes away the awkwardness of answering the question of how much do you charge.
1. One Price Model
This type of pricing is recommended for those with a proven track record and established clients. You set one price, usually per hour, and it does not change for any reason such as location or equipment used.
2. Flexible Pricing
This type of pricing allows you to charge different amounts based on certain factors. These factors include the client's goals and timeline.
Other factors such as gym fees, travel time and expenses, and equipment costs come into play.
An example would be if a client wants you to travel to their home if you are an in-home trainer. Besides your usual hourly rate, you will incur costs in travel and in time that takes you to get there and back. You would work those costs into what you would charge.
3. Package Renewals
You can bundle your services into packages or charge a certain amount for a certain number of sessions. When they run out, your clients can renew.
You can also create a monthly rolling service, which means they pay the same amount every month and what's included will depend on your agreement with the client. Online trainers tend to choose this route because online fitness coaching is continuous and can't be priced by sessions.
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