Industry Insights7 min read

Financial Guide for Personal Trainers and Fitness Professionals

Build a thriving fitness business with smart financial management. From session pricing to equipment deductions, cover all the bases.

JR

James Rodriguez

Freelance Expert · May 15, 2024

The Business of Personal Training

Personal training can be highly profitable with the right financial approach. Here's your complete guide.

Income Models

One-on-One Training

  • Hourly sessions: $50-150+
  • Package deals: Discounted bulk sessions
  • Premium pricing for specialized training
  • Group Training

  • Small groups: $20-40 per person
  • Bootcamps: $15-30 per person
  • Higher earning per hour potential
  • Online Training

  • Monthly subscriptions: $50-200
  • Program sales: $50-500
  • Lower time commitment, scalable
  • Hybrid Model

  • In-person + online
  • Best of both worlds
  • Maximizes income potential
  • Setting Your Rates

    Factors:

  • Certifications and experience
  • Location and market
  • Specializations
  • Overhead costs
  • Rate Calculation:

  • Desired annual income
  • Available training hours
  • Account for non-billable time
  • Add business costs
  • Include profit margin
  • Deductible Expenses

    Equipment:

  • Training equipment
  • Fitness technology
  • Assessment tools
  • Education:

  • Certifications
  • Continuing education
  • Workshops and conferences
  • Business Costs:

  • Liability insurance (essential!)
  • Marketing and website
  • Booking software
  • Business cards and materials
  • Facility:

  • Gym rental or membership
  • Home gym space
  • Equipment storage
  • Managing Client Packages

    Best Practices:

  • Clear expiration policies
  • No-show and cancellation fees
  • Package tracking system
  • Renewal reminders
  • Dealing with Seasonality

    Busy Seasons:

  • January (New Year)
  • Spring (pre-summer)
  • September (back to routine)
  • Slow Seasons:

  • Summer
  • Holidays
  • Strategies:

  • Adjust marketing spend
  • Offer seasonal promotions
  • Build online income
  • Save during busy periods
  • Insurance Requirements

    Essential Coverage:

  • Professional liability
  • General liability
  • Consider business property
  • Tax Considerations

  • Track mileage between clients
  • Home gym deduction if applicable
  • Equipment depreciation
  • Health insurance deduction
  • GigTracker helps personal trainers track sessions, income, and expenses all in one place.

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