A personal training business has ups and downs just like any other. Everyday decisions are made that will affect the bottom line. Controlling costs and finding new sources of revenue are always at the forefront. In an economic slowdown like we are seeing today, these decisions become increasingly more important. Most personal trainers felt the bite of 2008 and were finally getting back to their pre-recession session levels. If they learned anything from the great recession, in order to survive a potential double-dip, every personal trainer needs to strategize on how to sustain and grow their business. Below are a few suggestions.
Paramount from the start is making sure you do everything possible to maintain your current clients. Nowadays, many businesses have pre-sale events. Give your clients a little extra incentive to buy early. If you allow them to prepay for a further extended period, you will continue to have sessions to train in lean times while maintaining that stream of revenue. This can help you bridge the gap until the economic outlook improves. If you sense that there is a possibility of job loss, you want to offer this early renewal plan. Losing a job is an extremely stressful situation which is even more of a reason to stay with a fitness program. It may also be prudent to present an option to move to a less desirable off-peak slot at a reduced rate. This would help you open a peak time slot to a new client at a higher rate. Your client can stay within a tighter budget range and you now have more flexibility to fill a more desirable time slot.
You may also find that it is necessary to create incentives when presenting to new clients. This is possible by presenting a new client starter package or a deeper discount on the multiple session packs you offer. A down economy means there is less money to go around, recognize this and adjust before getting shut out all together. In 2008, we saw this happen with many products. From cars to skin lotions, people went down a level on many products they were purchasing in order to save money, but still fulfilled their needs. Take a long term approach and work to build that long term relationship.
Inevitably clients will leave you in good times and bad. Whether it ends up being because of financial, a move, or any number of personal reasons you will lose some clients over time. Continue marketing to new clients to keep your sales funnel full is essential. You may be able to cut some expenses, but it is important that you take action to fill any open spots on your schedule that come up. Sometimes you have to spend money to make money. What you are looking for is a return on your investment. When interviewing for a new job, it is always easier to interview when you have a job. Conveying a more confident persona can be the difference maker in landing the new job. Likewise, it is better to have clients when you are looking for new ones. Your confidence is higher. Don’t wait until panic sets in to begin in earnest to look for new clients. The desperation in your eyes will be very evident to your prospect.
Realize that more people are looking for you, than just your clients’ friends. Recognize that and use all available means to promote yourself. You have lots of options between traditional advertising, social media, and internet based advertising. On average, Bronx personal trainers who actively used a form of internet marketing had 4 more sessions per week than those who only used traditional advertising. Best of all, it doesn’t have to be expensive. There are many low cost options available. When making it through tough economic times, it is important to not lose sight of the intense passion that drove you to start your personal training Bronx career. Do everything possible to maintain a strong relationship with your current clients, be creative with your latest promotions to hold a prospects interest, and never stop looking for that next client who needs your support and guidance. Better yet, position yourself, so your next client comes knocking on your door.
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