Fitness professionals often find themselves in a situation where they hit a "glass ceiling" of revenue potential. There are only so many hours in a day available to train clients, and ultimately, you don't want to be trading your time for dollars.
Here are four ways to increase your cash flow, almost immediately. It just takes some thought, creativity and most importantly, it takes action! You might try just focusing on one way method initially, then set specific goals and target dates to focus on the others.
1. Raise your prices: It may seem obvious, but when was the last time you raised your prices? In the first four years of my business, I never raised my prices, yet my costs went up significantly. Tangible prices increased like gas and marketing costs; but more importantly, and of more value to your clients, the intangibles like your experience and education also increase. Hopefully you are regularly attending conferences, reading pertinent industry books and media and taking continuing education courses to increase your value to your clients. You invest time and money in your expertise and your rates should reflect that.
2. Sell new products/services to existing clients: Upsell! When you work in the restaurant industry, you're trained to ask the customer if they would like to finish off their amazing meal with a fabulous, homemade dessert. Why? Because it makes the dining experience even more special and memorable. Be sure you are "offering dessert" to your clients. Do you offer services or products that would add value, increase results or make their experience more memorable? Many of our clients are clamoring to purchase products or services we believe in; we just fail to ask (or we are too afraid to). If they're not buying it from you, they'll get it from somewhere else.
3. Attract new clients: Again, this one might seem obvious, but look at your capacity. Are you able to take on more clients? Or offer group training to augment your hourly earnings? Adding even one quality new client can add thousands of additional dollars to your yearly earnings. Best way to attract new clients? Ask for referrals from your best customers.
4. Create new products or services: Get creative! Can you repurpose one of your training programs to create an ebook that you can sell to clients who can't afford to train with you one-on-one? How about offering a special event like a day trip to a specialty training center where you take a small group of select clients? Try providing an interactive teleseminar for your clients or prospects using a free online platform like www.freeconferencing.com and answer their most pressing fitness questions; you can record the call and sell the replay.
How else can you add value to your clients and make it profitable without having to trade your valuable time for dollars? What are your clients or prospects asking for that you don't yet offer? Dedicate some time each week or each month to get creative with your business. These are great opportunities for you to increase your business and create even greater experiences for your clients.
