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More About This Textbook
Overview
With millions of people eager to lose weight and get in shape, personal training is one of the fastest growing careers in the health and fitness industry today. Fitness workers lead, instruct, and motivate individuals or groups in exercise activities, including cardiovascular exercise, strength training, and stretching. And they are well paid. They work in commercial and nonprofit health clubs, country clubs, hospitals, universities, yoga and Pilates studios, resorts, and clients homes. Increasingly, fitness workers also go to workplaces, where they organize and direct health and fitness programs for employees of all ages. The business of personal training is growing rapidly. According to the Bureau of Labor Statistics, personal training businesses are expected to be one of the fastest growing business segments in the U.S. economy. There has never been a better time to start your personal trainer business and get ahead of the competition. You can operate your personal training business from home, from a private personal training studio, clients' home gyms or corporate fitness centers. Many personal trainers earn an average of $30 to $100 per hour. This new book will teach you all you need to know about getting started in your own retail business in a minimum amount of time. Here is the manual you need to cash in on this highly profitable segment of the service industry. This new book is a comprehensive and detailed study of the business side of retailing. If you enjoy meeting people, this may be the perfect business for you. Keep in mind it looks easy, but as with any business, looks can be deceiving. To avoid pitfalls, use this complete manual to arm yourself with everything you need including sample business forms, leases, and contracts; worksheets and checklists for planning, starting, and running day-to-day operations; plans and layouts; and dozens of other valuable, timesaving tools of the trade that every entrepreneur should have. While providing detailed instruction and examples, the author leads you through finding a location that will bring success, learning how to draw up a winning business plan ( the Companion CD-ROM has the actual business plan you can use in MS Word TM), employing basic cost control systems, pricing issues, and sample floor plans and diagrams. You will avoid trial by error when setting up equipment layouts, meeting legal and IRS requirements, and tapping into the best sales and marketing techniques and pricing formulas. This book will even help you set up computer systems to save time and money, teach you how to hire and keep a qualified professional staff, do your own sales planning, customer service, track competitors, keep your own books, compile monthly profit and loss statements, prepare taxes. You will become adept at media planning, pricing, copywriting, and public relations. You will be able to hire and fire employees, motivate workers, manage and train employees, generate high profile public relations and publicity, and learn low cost internal marketing ideas and low and no cost ways to satisfy customers and build sales. You will learn how to keep bringing customers back the secret of continued success as well as getting thousands of great tips and useful guidelines. The manual delivers literally hundreds of innovative ways demonstrated to operate streamline your business. Learn new ways to make your operation run smoother and increase performance, shut down waste, reduce costs, and increase profits. In addition, you will appreciate this valuable resource and reference in your daily activities and as a source of ready-to-use forms, Web site resources, and operating and cost cutting ideas that can be easily applied to your operation.
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Table of Contents
Dedication 3
Foreword 13
Introduction 19
Are You Personal Training Compatible? 23
Skills and Traits of an Effective Personal Trainer 28
The Personal Trainer's Tasks 34
Knowledge 36
Ten Reasons for Starting a Personal Training Business 47
The Business Plan 53
Business Plan Development 57
The Business Description 78
A Marketing Plan 79
Competition 80
Test Your Idea with a Business Plan 82
Learning the Craft 85
Apprenticeship 87
Online Training Programs 90
College/University Education 94
Other Training/Educational Opportunities 98
Planning Your Approach 101
Types of Business Relationships 101
Benefits as an Employee 102
Partnerships 104
Entry Points 105
Finding a Niche 105
Primary Research 109
Secondary Research 113
Competition 116
Fitness Trends and Technology 117
EntryBarriers 118
Exit Barriers 118
Developing a Marketing Plan 120
Integrating the Business Plan 125
Credentialing 136
Business Basics 101 141
What is in a Name? 141
Sole Proprietor 148
Partnerships 149
Incorporation 153
Basics of Incorporation 156
Business Basics 102 161
Operating Procedures 161
Evaluating Your Success after Six Months 162
How to do a SWOT Analysis 163
Surveys 169
Evaluating Your Success after One Year 172
Personnel 173
Management Summary 181
Personnel Plan 182
Insurance 182
Financial Information 183
End-of-Year Financial Analysis 184
How to Assess Success 188
Advanced Business Practices 191
Mission Statement 191
Pricing Services 193
Advertising Services 197
Location - Location - Location 198
IRS Forms and Issues 199
Business Permits and Licenses 200
What is a Federal ID Number? Do I Need One? 201
Self-Employment Tax 203
Tax Tip 203
Accounting Issues 203
Independent Contractors 206
Confidentiality Issues 209
Desktop Programs that can Help 209
Is your Personal Training a Business or a Hobby? 210
Depreciation 212
Avoiding an Audit 214
When to Hire an Accountant 214
Making Your Business as Solid as Your Body 217
Legal Forms 217
Insurance 219
Maintaining Records 225
Hiring and Firing 231
Payment and Collections 233
Cancellation 236
Working with Clients 239
Medical Review 240
Case Studies 241
What Supplies/Forms do I Need? 267
Bibliography 273
Author Biography 275
Glossary 277
Index 287