- ACE CPT Chapter 1
- ACE CPT Chapter 2
- ACE CPT Chapter 3
- ACE CPT Chapter 4
- ACE CPT Chapter 5
- ACE CPT Chapter 6
- ACE CPT Chapter 7
- ACE CPT Chapter 8
- ACE CPT Chapter 9
- ACE CPT Chapter 10
- ACE CPT Chapter 11
- ACE CPT Chapter 12
- ACE CPT Chapter 13
- ACE CPT Chapter 14
- ACE CPT Chapter 15
- ACE CPT Chapter 16
- ACE CPT Chapter 17
- ACE CPT Chapter 18
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Post 18 of 18 in the ACE 5th Study Guide
Post Content
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
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- 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
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Graphic designer/web developer
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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