Unfortunately no, I haven’t invented a time bending, physics breaking, super-human clone. I’m talking about passive income.
The art of making money while you sleep, or making money from multiple places at the same time
The art of making money while you sleep, or making money from multiple places at the same time
You see, you probably know that Personal Training can be a tough gig to make a lot of money. There’s only so many hours in a day that you can sell, and that is what you sell – your time.
Of course, you can charge more per hour, or just work more, but that still has its ceiling. The secret of a successful business is that it generates income of its own accord, without your direct man hours.
The inspiration for this post came from our recent deal with Gymbag offering members of iPT a whopping 30% off white label supplements. I’ll explain more about that and why it is a great passive income stream a little later. First I want to talk about passive income in general.
Of course, you can charge more per hour, or just work more, but that still has its ceiling. The secret of a successful business is that it generates income of its own accord, without your direct man hours.
The inspiration for this post came from our recent deal with Gymbag offering members of iPT a whopping 30% off white label supplements. I’ll explain more about that and why it is a great passive income stream a little later. First I want to talk about passive income in general.
Passive Income 101
Passive income is a source of revenue that doesn’t require direct involvement from yourself. Some examples include:
Passive income is great because it makes us money without costing us time. Leaving us the time and energy to put in to other activities. Plus, you can take time off, travel, etc. and still be making money.
So how does a Personal Trainer make passive income?
- Dividends from a business your own shares in
- Rent from a 2nd home
- Royalties from books, music, art, etc.
- A systemised business that makes money itself, such as niche website
Passive income is great because it makes us money without costing us time. Leaving us the time and energy to put in to other activities. Plus, you can take time off, travel, etc. and still be making money.
So how does a Personal Trainer make passive income?
Passive Income For Personal Trainers
There are many options for us as Personal Trainers to make passive income. Some are easier to get set up than others, and they all have their good and bad points. Let’s take a look at a few.
The biggest downside of all online based income streams is the need to generate traffic. If the online venture is a stand-alone site it likely will not be passive, you will have to work to generate traffic. Whether through adverts, SEO, blogging or social media; someone has to do the work of driving traffic to your site.
The real benefit is when you have a site anyway. You are already driving traffic to it and can easily add on some additional revenue generating products that don’t add to the ongoing workload.
If you have a Personal Training website, active social media profiles or blog that you work on, you can add some passive income sources there and benefit straight away.
- Selling programs, e-books, etc. through your website: This is a good way to make passive income as the digital delivery can be totally automated and requires no work once it is set up.
- Online store: Selling equipment, clothing, branded gear, supplements. People are coming to your site anyway and might buy some additional stuff that they need to complement their training.
- Sub-letting your studio: Likely a high paying form of income, may require some management but charging other trainers a rental fee to use your premises is a good idea. The downside is the high set up costs and risk. If this fits in your studio’s business model it is probably integral to it rather than an optional bonus.
- Membership site: A fitness membership site that goes on for ever will need new content for ever, so is not passive, but certainly could be if membership lasts a defined length. Still a good business option as it offers leverage to have many clients for the same amount of work.
The biggest downside of all online based income streams is the need to generate traffic. If the online venture is a stand-alone site it likely will not be passive, you will have to work to generate traffic. Whether through adverts, SEO, blogging or social media; someone has to do the work of driving traffic to your site.
The real benefit is when you have a site anyway. You are already driving traffic to it and can easily add on some additional revenue generating products that don’t add to the ongoing workload.
If you have a Personal Training website, active social media profiles or blog that you work on, you can add some passive income sources there and benefit straight away.
White Label Supplements
What does white label mean?
A white label product is a product that has been created and proven to work, which is available for you to brand and sell as your own.
In this case, we are talking about your own branded online supplement store. It slots right in to your website and is presented to the customer in your branding.
All processing and fulfillment is done for you, meaning:
This really is passive income.
You set the store up on your site and it is ready to go, all it needs it traffic – which you’re hopefully generating anyway.
What’s the deal with Gymbag?
Gymbag normally costs £30 per month to use. Already a small investment that should bring a tidy return.
With your Institute of Personal Trainers membership, your Gymbag membership will cost just £21 per month!
That means your iPT member AND Gymbag membership will cost less than the Gymbag membership alone when you go through us.
Find out more here.
A white label product is a product that has been created and proven to work, which is available for you to brand and sell as your own.
In this case, we are talking about your own branded online supplement store. It slots right in to your website and is presented to the customer in your branding.
All processing and fulfillment is done for you, meaning:
- No buying stock
- No inventory to store
- No hassle with shipping
- No dealing with suppliers
- Done for you customer service
This really is passive income.
You set the store up on your site and it is ready to go, all it needs it traffic – which you’re hopefully generating anyway.
What’s the deal with Gymbag?
Gymbag normally costs £30 per month to use. Already a small investment that should bring a tidy return.
With your Institute of Personal Trainers membership, your Gymbag membership will cost just £21 per month!
That means your iPT member AND Gymbag membership will cost less than the Gymbag membership alone when you go through us.
Find out more here.
Putting This To Work For Your Personal Training Business
Here’s how it works for you, if you were to go ahead and join Gymbag through us.
There’s many ways to make additional income from your Personal Training business and just requires a little thinking outside of the box of traditional time for money Personal Training. You will probably find that as you start to expand your business, new opportunities will present themselves to you and both your income and business freedom will rise.
If you want to make passive income in your business it will require some work and probably a small investment up front that is more than worth it when you are getting paid in your sleep, indefinitely.
- You set up your store, choose what you want to offer and attach it to your website.
- Recommend the supplements you think your clients need and point them to the store to purchase.
- Drive additional traffic to the store through blogs, social media, email list. You can make recommendations, for example; of the best protein powder and send out to your followers. This opens out the potential buyers far beyond just your Personal Training clients.
- Having a functioning supplement store on your website looks very professional and will impress potential clients.
- When non-clients buy supplements through your store they have become a buyer and are statistically more likely to buy something else from you. Be that Personal Training or other passive products such as e-books and programs.
- You are now operating on a much larger scale, people do not need to be in your area to do business with you. I bet you have social media followers from all over the country, right?
There’s many ways to make additional income from your Personal Training business and just requires a little thinking outside of the box of traditional time for money Personal Training. You will probably find that as you start to expand your business, new opportunities will present themselves to you and both your income and business freedom will rise.
If you want to make passive income in your business it will require some work and probably a small investment up front that is more than worth it when you are getting paid in your sleep, indefinitely.
Passive Income Starts Here
If you're not already signed up to Gymbag you're in luck! If you sign up as an Institute of Personal Trainers (iPT) member for only £4.99 per month you can get your own white label supplement store for £21 per month. Gymbag is usually £30 so your iPT membership and Gymbag membership will cost you less than Gymbag alone. When you sign up you'll also get a listing in our fitness directory, to drive more traffic to your website.
Get on it alike a passive income ninja!
Get on it alike a passive income ninja!
