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ACE CPT Chapter 18 – Personal-training Business Fundamentals

ACE Study Guide Chapter 18

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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

    Insurance broker

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    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

    If you want additional study materials, check out the team over at Trainer Academy. They have incredible study materials for ACE And I have a special limited-time discount for my readers. I also suggest you check out my review on Trainer Academy here.

    ACE CPT Chapter 18 - Personal-training Business Fundamentals 1
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