Balancing the Books: Essential Financial Management Tips for Fitness Pros

Fortunately, the financial problems that plague trainers have simple solutions.

Personal trainers are so focussed on helping their clients that they often forget to advocate for themselves. This isn't sustainable.

The most common challenges that personal trainers face are financial ones. And despite their pervasiveness, they remain largely unacknowledged and unsolved. Until now.

In this article I address the top 4 challenges that personal trainers face, and provide simple solutions to solve them.
Let's dig in.

Complaint #1: "I have no time! I'm always working! 😩"

Solution ✅: "Color-Code Your Way to Work-Life Harmony with Green, Yellow, Red Schedule Formatting"

Most personal trainers are controlled by their clients' schedules with long hours at the gym and little time for personal pursuits and rest. The solution? Implement the Green, Yellow, and Red scheduling zones. This simple exercise gives you the clarity you need. It shows the times you want filled with clients, where you have flexibility, and where your boundaries lie.

- Green (Go): Designate specific times that are ideal for training clients. These are your prime hours where you focus on booking as many sessions as you can, aligning with your peak energy levels, client demand and the type of life you want.

- Yellow (Caution): These are less ideal times that you should reserve for exceptions only. Use this slot for emergency client bookings or overflow but maintain it as a buffer zone to prevent burnout. The yellow zone should not be filled with clients on a regular basis. It is meant to be the exception, not the rule.

- Red (Stop): Crucially, set absolute non-negotiable times where no clients are booked. These hours are for you—whether that’s for family, personal fitness, or simply to rest and recharge.

Pro-Tip:

Once you've completed the exercise, multiply the "green" hours by your hourly rate. This shows you your income potential at that workload. If that number works for you, fantastic! If not, something will need to change (hourly rate, work volume, service offering, etc.).

This model helps you set clear boundaries so you can work hard without sacrificing your well-being. This not only matters to you, but also for your clients. Setting the boundaries for yourself, teaches your clients how to do it as well.

This exercise only works if you do it. Take the 5 minutes now and get it done. You're welcome! 😉

Complaint #2: "I find money overwhelming!"

Solution ✅: "Gain Clarity with a Simple Money Tracker"

Many personal trainers struggle with money. This is often because they don't track their income and expenses. It's essential to break from this cycle of financial blindness.

The first step in financial competence is knowing your expenses, your income, and whether you're in a deficit.

Not sure where to start? Download a money tracker HERE.

This simple tool will help you visualize your cash flow, allowing you to identify how much is coming in, and how much is going out. Monthly monitoring prevents the financial pitfall that too many fitness professionals experience and tells you how much you can save, invest and spend.

Challenge #3: "Continuing education is too expensive. I never have the money!"

Solution ✅: "Become Future Fit. Establish a Continuing Education Fund"

Continuing education is essential in staying ahead as a personal trainer. A practical step to ensure ongoing growth is to set up an education fund.

Here's how to do it. Once you've met your basic financial needs, put $50-100 per month into a savings account. This account is for workshops, certifications and courses that enhance your skills and make you money in the long run. This not only adds value to the services you provide to your clients, but will also make you money in the long run as you eclipse your competition.

This ensure that you do 2-3 continuing education courses per year. Which is the sweet spot of learning and implementation!

Complaint #4: "I can't take sick days or a vacation. If I don't work, I don't make money."

Solution ✅: "Get Beyond the Hour: Build Secondary Income Streams"

Relying solely on direct client sessions is a common risk for personal trainers. To build financial stability and prevent burnout, consider developing secondary income streams.

These secondary income streams can enrich the experience of your clients. It can also be in alternate industries that interest you.

In fitness, this can include selling workout programs and recipe books. It can also be selling app subscriptions and affiliate codes for supplements. Such products provide more value to your clients while generating revenue for you without requiring a constant exchange of time for money. Also, don’t shy away from exploring opportunities outside the fitness industry. This diversification can stabilize and increase your income.

By implementing these strategies, you're tackling common financial challenges faced by many personal trainers. Remember, the goal is to create a sustainable balance that fosters both personal well-being and professional success.

Don't forget to download the tracker now by clicking HERE.

Organize your financial life today. And secure your financial wellness.

I'm here if you have any questions!

Stay curious;

Etienne Asselin, mhRTS
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