How to Open & Operate a Financially Successful Personal Training Business

by Peragine, John N., Jr.

• ISBN13: 9781601381170
• ISBN10: 1601381174
• Edition: CD
• Format: Paperback
• Copyright: 2008-07-30
• Publisher: Atlantic Pub Co

Summary

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.

Table of Contents

Dedication	p. 3
Foreword	p. 13
Introduction	p. 19
Are You Personal Training Compatible?	p. 23
Skills and Traits of an Effective Personal Trainer	p. 28
The Personal Trainer's Tasks	p. 34
Knowledge	p. 36
Ten Reasons for Starting a Personal Training Business	p. 47
The Business Plan	p. 53
Business Plan Development	p. 57
The Business Description	p. 78
A Marketing Plan	p. 79
Competition	p. 80
Test Your Idea with a Business Plan	p. 82
Learning the Craft	p. 85
Apprenticeship	p. 87
Online Training Programs	p. 90
College/University Education	p. 94
Other Training/Educational Opportunities	p. 98
Planning Your Approach	p. 101
Types of Business Relationships	p. 101
Benefits as an Employee	p. 102
Partnerships	p. 104
Entry Points	p. 105
Finding a Niche	p. 105
Primary Research	p. 109
Secondary Research	p. 113
Competition	p. 116
Fitness Trends and Technology	p. 117
Entry Barriers	p. 118
Exit Barriers	p. 118
Developing a Marketing Plan	p. 120
Integrating the Business Plan	p. 125
Credentialing	p. 136
Business Basics 101	p. 141
What is in a Name?	p. 141
Sole Proprietor	p. 148
Partnerships	p. 149
Incorporation	p. 153
Basics of Incorporation	p. 156
Business Basics 102	p. 161
Operating Procedures	p. 161
Evaluating Your Success after Six Months	p. 162
How to do a SWOT Analysis	p. 163
Surveys	p. 169
Evaluating Your Success after One Year	p. 172
Personnel	p. 173
Management Summary	p. 181
Personnel Plan	p. 182
Insurance	p. 182
Financial Information	p. 183
End-of-Year Financial Analysis	p. 184
How to Assess Success	p. 188
Advanced Business Practices	p. 191
Mission Statement	p. 191
Pricing Services	p. 193
Advertising Services	p. 197
Location - Location - Location	p. 198
IRS Forms and Issues	p. 199
Business Permits and Licenses	p. 200
What is a Federal ID Number? Do I Need One?	p. 201
Self-Employment Tax	p. 203
Tax Tip	p. 203
Accounting Issues	p. 203
Independent Contractors	p. 206
Confidentiality Issues	p. 209
Desktop Programs that can Help	p. 209
Is your Personal Training a Business or a Hobby?	p. 210
Depreciation	p. 212
Avoiding an Audit	p. 214
When to Hire an Accountant	p. 214
Making Your Business as Solid as Your Body	p. 217
Legal Forms	p. 217
Insurance	p. 219
Maintaining Records	p. 225
Hiring and Firing	p. 231
Payment and Collections	p. 233
Cancellation	p. 236
Working with Clients	p. 239
Medical Review	p. 240
Case Studies	p. 241
What Supplies/Forms do I Need?	p. 267
Bibliography	p. 273
Author Biography	p. 275
Glossary	p. 277
Index	p. 287
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