How To Recession Proof Your Personal Training Business

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How To Recession Proof Your Personal Training Business -
By: Ben Needles, Posted on: 2008-12-03

I must admit, its beginning to get on my nerves a bit.

I mean all this talk of recession.

It seems everyday Im getting emails from personal trainers whore panicking because of impending recession and worried thattheir bootcamps, their studios and their gyms are going to go underor see such a big drop in business that theyll be struggling toget by and pay their bills.

The sad thing is, most of them are right!

Not because theres not enough business to go around and not because people are spending less but because theyre choosing to accept that recession exists.

It doesnt.

Not for everyone, anyway.

Sure, its easy to think that when something like a recession comes along that we all have to tighten our belts, curb our non-essential spending and ride out the storm until the next upswing but thats because weve been trained to think that way.

And weve trained ourselves to think that way too.

But the truth is, the only reason that so many people get hit so hard during times of recession is that choose to play the recession game.

Especially personal trainers.

They see their client list get smaller and their appointments drop off and so they start to discount their prices to attract more business. But the clients still dont come so they discount them even more.

If theyre lucky they may see a little rise in business only now, because theyre charging less, theyre working longer hours, earning less money and in danger of losing even these clients as the recession kicks in.

Sad to say but this is what most personal trainers will do. In fact, from the emails Im receiving, many are already doing it!

So thats the bad news, but like I said, it doesnt have to be this way.

Theres something you can do TODAY to not only avoid the recession but thrive during it.

You can stop being a luxury item to your clients and start becoming an asset.

What do I mean?

Well, whats the first thing that goes out the window when people are struggling financially?

Luxuries, right?

Or in marketing speak non-essential spending, meaning everything thats not essential to that persons ability to get through life.

Food, mortgage, utilities etc are all essentials that people MUST have. New cars, personal training, opera tickets on the other hand are, for most people, luxurious, non-essentials that are cut as soon as the R-word begins to be taken seriously.

And heres the problem; the way most personal trainers market themselves is based upon the luxury items model.

They sell their services to people with disposable incomes that, most of the time, allow for the luxury of personal training. These people are treating themselves to PT, they enjoy it (mostly!), they want it and they may even need it but it will always be something that theyre happy to keep in their lives for as long as it doesnt interfere with their necessities.

Trouble is, for most trainers this group makes up the largest proportion (if not all) of their client base meaning that they ALL purchased their sessions with you based on price and will all quit when the price seems too high.

Yet consider this; there are groups of people out there who dont consider ANY price (or at least, any price that a personal trainer could ask) as expensive or luxurious. They simply decide what they want and are determined to get it because they see it as an asset or investment that will benefit them.

For example, my clients pay me Â£130 and hour (thats around $250). The kind of people that can pay that kind of money arent worried about inflation, depression or recession. They simply know what they want and are willing to pay the price to get it.

Ive routinely been paid Ã‚Â£2500 ($5000) plus for a days work.

Ive been paid Â£30,000 ($60,000) for a single months PT plus $1000 a day expenses whilst travelling.

Right now Im putting together a PT program that will cost Â£10-12,000 a week. Yes, you read that right, per person per week.

And all of this (and more) is going on during a so-called downturn.

How?

By removing myself from the luxury market of people who have to scrimp and scrape to work with me and instead focusing my efforts on those with greater affluence. Those who know what they want and are happy to pay for it regardless of the percentage rate the banks are charging.

To them, it simply doesnt matter. Not one little bit.

If youre thinking Thats all great for you Dax, but how does this benefit me? then heres your answer.

Put your prices... UP!

Seriously, put your prices up. Move away from those who consider your services to be a luxury and instead start marketing to the affluent, the wealthy and the downright rich.

Sound too mercenary?

Its not.

Working with the affluent is no easy ride Youll earn every single penny you earn from them.

They expect better service, better results and, well, better everything. And theyre right, after all, theyre paying for it arent they? Theyre paying for exclusivity, for that little bit more, that something extra that isnt delivered by the $40 and $50 an hour PTs.

So youve got to be better and, more importantly, youve got to be seen to be better.

And better is more expensive, no ifs, no buts.

Look, I know this runs contra to everything youve ever been told about recession but nevertheless its true. Putting your prices up, taking your business upmarket and deliberately attracting the affluent is the best way to recession-proof your business.

Still not sure?

Try this; add a high end service to your current marketing materials. Call it platinum coaching, call it what you want but make it clear that this is for those looking for that something special rather than simply personal training. Proudly state that youre the most expensive coach around (I do it all the time because I am) and then wait.

It may take a little while but sure enough youll come to know that what Im telling you is correct; theyre out there. Money in hand. Ready, willing and most able to pay you every single penny youre worth. They always have been; you just never asked before.

So ask!

I must admit, its beginning to get on my nerves a bit.

I mean all this talk of recession.

It seems unremarkable Im getting emails from personal trainers whore panicking because of impending recession and worried thattheir bootcamps, their studios and their gyms are going to go underor see such a big drop in business that theyll be struggling toget by and pay their bills.

The sad thing is, most of them are right!

Not because theres not decent business to go around and not because live are outlay less but because theyre choosing to swallow that recession exists.

It doesnt.

Not for everyone, anyway.

Sure, its easy to think that when something like a recession comes along that we all have to tighten our belts, curb our non-essential outlay and ride out the storm until the next upswing but thats because weve been trained to think that way.

And weve trained ourselves to think that way too.

But the truth is, the only reason that so many people get hit so hard during times of corner is that choose to play the recessional game.

Especially personal trainers.

They see their client list get smaller and their appointments drop off and so they start to discount their prices to attract more business. But the clients still dont come so they discount them even more.

If theyre lucky they may see a trivial rise in business only now, because theyre charging less, theyre working yearner hours, earning less money and in danger of losing even these clients as the recession kicks in.

Sad to say but this is what most personal trainers will do. In fact, from the emails Im receiving, many are already doing it!

So thats the bad news, but like I said, it doesnt have to be this way.

Theres something you can do TODAY to not only avoid the niche but thrive during it.

You can stop being a luxury item to your clients and start comme il faut an asset.

What do I mean?

Well, whats the first thing that goes out the windowpane when people are struggling financially?

Luxuries, right?

Or in marketing speak non-essential spending, meaning everything thats not of the essence to that persons ability to get through life.

Food, mortgage, utilities etc are all essentials that people MUST have. New cars, personal training, opera tickets on the other hand are, for most people, luxurious, non-essentials that are cut as soon as the R-word begins to be taken seriously.

And heres the problem; the way most personal trainers market themselves is based upon the luxury items model.

They sell their services to people with disposable incomes that, most of the time, allow for the luxury of personal training. These people are treating themselves to PT, they enjoy it (mostly!), they want it and they may even need it but it will always be something that theyre happy to keep in their lives for as long as it doesnt interfere with their necessities.

Trouble is, for most trainers this group makes up the largest balance (if not all) of their client base significance that they ALL purchased their sessions with you based on price and will all quit when the price seems too high.

Yet consider this; there are groups of people out there who dont count ANY price (or at least, any price that a personal flight simulator could ask) as expensive or luxurious. They simply decide what they want and are determined to get it because they see it as an asset or investment that will benefit them.

For example, my clients pay me Â£130 and hour (thats some $250). The kind of mass that can pay that kind of money arent worried about inflation, depression or recession. They plainly know what they want and are volition to pay the price to get it.

Ive routinely been paid Ã‚Â£2500 ($5000) plus for a days work.

Ive been paid Â£30,000 ($60,000) for a unity months PT plus $1000 a day expenses whilst travelling.

Right now Im putting together a PT program that will cost Â£10-12,000 a week. Yes, you read that right, per person per week.

And all of this (and more) is going on during a so-called downturn.

How?

By removing myself from the luxury securities industry of people who have to scrimp and come up to work with me and instead focus my efforts on those with greater affluence. Those who know what they want and are happy to pay for it regardless of the per centum rate the banks are charging.

To them, it simply doesnt matter. Not one trivial bit.

If youre intellection Thats all great for you Dax, but how does this benefit me? then heres your answer.

Put your prices... UP!

Seriously, put your prices up. Move away from those who consider your services to be a luxury and or else start selling to the affluent, the wealthy and the rank(a) rich.

Sound too mercenary?

Its not.

Working with the affluent is no easy ride Youll earn every unmarried penny you earn from them.

They have a bun in the oven better service, break results and, well, better everything. And theyre right, after all, theyre gainful for it arent they? Theyre paying for exclusivity, for that small bit more, that something extra that isnt delivered by the $40 and $50 an hour PTs.

So youve got to be better and, more importantly, youve got to be seen to be better.

And better is more expensive, no ifs, no buts.

Look, I know this runs contra to everything youve ever been told about recession but nevertheless its true. Putting your prices up, taking your job upmarket and deliberately attracting the affluent is the best way to recession-proof your business.

Still not sure?

Try this; add a high end service to your flow marketing materials. Call it platinum coaching, call it what you want but make it clear that this is for those look for that something special rather than simply personal training. With pride state that youre the most expensive coach round (I do it all the time because I am) and then wait.

It may take a little while but sure enough youll come to know that what Im telling you is correct; theyre out there. Money in hand. Ready, willing and most able to pay you every single penny youre worth. They always have been; you just never asked before.

So ask!

.

Article Source: http://business.articles-and.info

About the Author (text)

Dax Moy is a successful multiple club owner, magazine and TV journalist, author and internationally acclaimed public speaker and educator.

AFFORDABLE LIVING ROOM FURNITURE.INFO

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