Fitness Business; 5 Keys to Success
Running a fitness business as a career choice is not even an option by career guidance councillors, personal trainers, bootcamp instructors, strength coaches there are so many options, yet there were over 200,000 fitness professionals according to a 2006 US employment census. Every year Volo goes to several trade shows and we talk to thousands of these 200,000 enthusiastic people about how they ended up in a fitness business. I would say a good 90% gravitated here due to the lifestyle. There is no question that fitness is very much a lifestyle job. Track pants and a tech shirt instead of a suit and tie. Ride a bike or run to work instead of driving or subway. In between clients you exercise instead of hanging out in the lunch room or surfing the web. All in all it is about how you want to live that drives fitness professionals to build a successful career.
But this is the problem, a career needs to be able to sustain your lifestyle, of those 200,000 only 25% were working near full time and only the top 2% are making the coveted six figure income. Most of the fitness professionals in the census sit below $40k per year. So how can you get from average to above average and maintain the fitness lifestyle you want?
Below are my top 5 ways to do this and if you can follow them fitness business success will follow you.
- You can’t chase success you have to create it
I see hundreds of new young fitness professionals all searching for the method or the magic bullet to big bucks. The reality is that it does not exist. No more than the miracle weight loss plan. If you want to have long term success and build the best fitness business around you need to plan and create it.
- Consistency is the key
Again to use a fitness metaphor; if you want to have great results in fitness you need to be consistent in exercise and diet. The same is true in your fitness business. If you want to have a thriving clientele you need to have consistency in the little things. The systems that will bring success accounting, billing, scheduling and member management all need to be consistent.
- Surround yourself with like minded people
It is impossible to have success if you are surrounded by apathy and people who do not share in your drive. You can be the most successful of your group but ultimately to achieve greatness or to become the top 2% in the fitness industry you need to be around others that have success or are striving to achieve it.
- Ups and downs happen and hard work overcomes obstacles
Some hard facts on life are that there will be moments of greatness and times of sadness. The same is true in fitness and business. The key is how you choose to overcome these obstacles. You can either bury your head in the sand or you can come out fighting. People that have achieved success versus having it handed to them will always have a phenomenal work ethic. In a fitness business this needs to be double because you deal in a service industry that is helping other achieve goals so you need to be twice as driven, once for them and once for yourself.
- Hire the right people
You can be in fantastic shape, you know thousands of exercises, you may have even created the next greatest fitness system but the one thing every new entrepreneur does not know is how to run a business. This not meant as insult but I know very few fitness entrepreneurs that have an accounting background or an MBA. The great thing is you do not need these but you do need to hire people that can help you. So hire an accountant, this is important, that deals with fitness businesses. Hire a mentor or business coach or a consultant. If you are leasing space please have a realtor and a lawyer look at the contract, especially the lawyer a realtor is sometimes looking out for themselves.
People hire you for your great fitness knowledge you need to do the same for your business.