How To Increase Your Personal Training Revenue
You’ve got some big goals for your personal training business. Most of those goals are probably tied to increase your personal training revenue or profits.
To increase your revenue you have to:
- Increase the number of new customers
- Increase the value of each sale
- Increase the frequency of sales
Let’s take a look at 3 simple ways to increase your personal training revenue.
Raise Your Prices
When is the last time you raised your rates? I know, I know…it can a scary proposition to increase the cost of your services. The little voices in your head start telling you that you’ll lose clients or won’t be able to sell new clients because of your increased rates.
For most personal training businesses the opposite is true! It will be no more challenging to sell at your new rates than your previous rates. And, your current clients won’t all jump ship.
Look at increasing your current client’s rates by $5-20/mo. That small price increase won’t be enough to drive anyone away. For new clients you can increase your rates by $20-50/mo or 10-25% depending your comfort level.
Invest In Your Marketing
There’s a good chance that you aren’t investing enough into your marketing. The best way for most personal training businesses to increase revenues is by creating more opportunities to sell their services. Those opportunities need to come in the form of new leads.
Learn how to run Facebook ads, expand your social media marketing, increase your networking, start your email list, etc. If you don’t have the time to learn how to do it or don’t want to learn how to do it then outsource it.
Lead Engine Marketing is the lead gen secret weapon for many of our best coaching clients here at Fitness Revolution. For a small fee you can have someone set up your Facebook ads and send leads into your funnel so that you can focus on closing those leads.
Offer High End Services
There’s a good chance 10% of your current clients would be willing to spend more money with you for high end services. Putting together a premium offer, with big margins, for your best customers can help you generate some revenue easily.
You could offer nutrition coaching/planning services, individualized training (such as a few 1-1 sessions month), all access passes to your workshops/challenge, or concierge level services. With the concierge level services you would partner with meal prep companies, massage therapists, chiros, etc to create a package for this individual at a premium.
Increase Your Wallet Share
This is a term that I recently heard and didn’t really get until I spent some time thinking about it. Your current clients, your entire market really, has a set amount of money they are going to spend each month. If you can provide valuable services or products to increase the share of that money then you’ll have no issue growing your business.
This is not about being greedy! These clients are going to spend the money either way. They would love to spend it with someone they already know, like and trust (THAT’S YOU!)
If you need a little help increasing your personal training revenues book a complimentary call with a member of the Fitness Revolution team to uncover hidden opportunities in your business.