ACE CPT Chapter 18 – Personal-training Business Fundamentals

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The direct employee model

This is working under an employer such as in a corporate gym, commercial setting or private gym

Advantages

• No overhead costs for the facility, equipment etc.
• Benefits such as healthcare
• Opportunities to move up (promotions)

Disadvantages

Often times it can be high-pressure sales environment

Independent contractor

Advantages

• You typically have the freedom to choose your pay scale based on what type of market you are

Disadvantages

• Marketing costs are typically your responsibility
• Traveling to the home of your client
• Possibly have to rent out space to train
• Taxes

Business planning

Executive summary

The concept of the business

• The description of the business

Financial information

• First-year startup costs
• The sources of capital
• The potential for profits and sales revenue
• ROI (return on investment)

Current business position

• Information about the owners of the business

Major achievements

Business description

Competitors

Operating model

Management team

The fitness market locally

Marketing plan

Find your target audience

Learning to communicate why your services are valuable to your clients

Operational plan

Organizational chart

Risk analysis

Barriers to starting – Employees, marketing costs, equipment cost, renting space

Financial risks – The capital needed in order to begin and expand

Competition

Employees – Staffing and payroll

The SWOT analysis – strengths, weaknesses, opportunities, and threats

The criteria for decision-making

Necessary services for beginning a business

An attorney

An accountant

Graphic designer/web developer

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Insurance broker

Real estate broker

Contractors

Financial plan

Goal setting with SMART

Closing ratio – If you get one paying client for every 10 you talk to, you have a 10% closing ratio

• Use this to find new goals of how many prospective clients you need to talk to weekly

Managing time

Client management

Working with clients

Prospecting potential clients

Building advertising and marketing materials

Additional job duties

Exercise

Homelife/personal life

How to sell training

How to market to potential clients

How to ask for the sale

• Identifying the emotional needs of the client
• Address those needs effectively with potential client
• You need to be genuinely interested

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