All In One Marketing Platform For Personal Trainers
In 2020, the US personal training market was valued at almost $13 billion, and the UK fitness training industry at just under £700 million. The events of 2020 - including the Covid-19 pandemic and lockdown measures - have significantly impacted the industry and the over 340,000 PTs working in the US and internationally. Nonetheless, the global fitness and global market continue to change and expand - reaching a record-breaking valuation of $1.5 trillion in 2021. Starting a business in this industry today could grant you unparalleled benefits and opportunities - if you do it in the right way! Here’s all you need to know about starting a Personal Training business in 2021. How To Start a Personal Training Business: The Juice
Starting a personal training business is much more than launching a personal training website and picking a name. As we have seen, the industry is constantly changing and evolving, and it is essential that your brand, offer, mission, and values are appealing to your specific target market.
In the sections below, we’ll look at the phases you will need to go through to launch your personal training industry and review the guidelines of the Institute or Personal Trainers. In the meanwhile, here’s an overview:
In the PT industry, there are opportunities for all qualified personal trainers and fitness professionals. However, becoming a self-employed personal trainer is not the ideal choice for everyone. Learn what’s ahead of you to make an informed decision. Let’s get started! 1. You Will Need To Solve a Problem
If you wish to start your own business, it is probably because you have a business idea. Of course, you will want to work in the personal training industry, but this task is more complex than that.
Today, only around 30% of small businesses survive their 10-year anniversary - and the causes for these failures are many, including failing to meet the customers’ demand. Here are some must-haves of a new business idea:
2. Understand Your Niche
Once you have your idea, you can understand more of the market around you. This will allow you to understand what your closest competitors are and identify your unique target market. After all, there are endless niches within the personal training sector! From fitness or bodybuilding to cardio, mindful practices, or competition training, there are many areas of work you could consider specializing in.
Once you have these pieces of the puzzle in your hand, you can begin to explore your customer persona, its needs, wants, preferences, and dislikes. Once this analysis is complete, you can refine your PT business idea to make it more competitive and appealing for your audience. 3. Don’t Overlook The Legal Aspects
Okay, now you have an idea, you are aware of your audience’s nuances, and you know how competitive the market is. If you are still sure that your idea is viable and potentially successful, you will need to get started with the legalities of registering a business.
If you have never done so before, finding legal and accountancy help should be something to consider. In the meanwhile, here’s is a checklist of the basic compliance you’ll need to meet:
4. Craft You Personal Training Business Plan
Once your PT business idea is set in stone and you have completed all the legal steps needed for your company to be compliant with your government’s requirements, you will need to write a business plan.
In the video below, you can learn the basics of business plan writing for PTs. Make sure you don’t overlook this step! A business plan is essential to secure funding and investments. And, of course, for you to have a business strategy! 5. Secure The Funds You Need
Depending on the type of business you are running, you might need more or less capital to finance your operations. For example, if you operate virtually or use the equipment and customer base of a gym, you might get started with limited capital.
However, if you are looking to open your own studio or launch a revolutionary PT company, you are likely to need more money. Here are a few ways to raise the capital you need.
6. Handpick The Right Team
Whether you like to work alone or in a team, a personal training business is not a one-man show. The right team can help you expand your business and achieve your goals faster. Of course, since you will be investing in other personal trainers and fitness professionals, you will need to review their skills and commitment.
Here are a few tips to secure the right team:
Whether you are working from a certain location or you have an online personal training business, decide on what talents are essential for your in-house team and what core functions to outsource. 7. Leverage Digital Marketing To Scale Up Your Fitness Business
A digital marketing campaign is essential to scale up your personal training business. Once you are clear on your brand values, mission, vision, and tone, you can collaborate with a digital marketing agency that can help you craft your message to your audience.
Keep an eye out for feedback and reviews! Marketing mishaps are one of the main reasons behind business failures - but since you own an agile personal training startup, you can change direction in a wisp and at the requests of your audience! 8. Keep An Eye on Your Long-Term Strategy
Once your fitness business is standing on its feet, it is time to review your long-term strategy. As a business owner, it is easy for you to become lost in everyday tasks. A long-term strategy is what ensures that you keep your business moving forward, current, and competitive.
And, if you feel at a loss, reach out to one of the mentors at the Institute of Personal Trainers. Here you will find all the experience and industry knowledge you need to succeed. |
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