Diamond Cut Series: Why Starting A Personal Fitness Training Company Is A Great Business Opportunity
Having been in fitness for almost two decades I can think of no better time to get into the field.Â If you’ve been thinking aboutÂ taking aÂ leap into fitness services here’s why the water’s fine:Â
TREND ONE:Â FITNESS PRODUCTS AND SERVICES ARE “ON TREND”Â Â
The Trend Is Your Friend
We’ve all heard about aging baby boomers having a greater need for health and fitness services.Â It’s plain common sense that demand for health and fitness services will increase.Â Instead of quoting you reams of statistics – just ask yourself whoÂ represents the “Ideal Customer” and largest market for personal fitness service companies?
If you said upper middle middle class AmericansÂ ageÂ 45 -Â 70 you win. (We’ll call this theÂ Ideal Customer for fitness services)Â Now that entire cohort is not made up entirely of baby boomers, but a big chunk is.Â That’s major opportunity for fitness entrepreneurs several reasons.
1. MONEY – IC’s (Ideal Customers) have disposable income.Â They’re white collar professionals who have reached their peak earning years.Â They’ve also benefited from a ten year bull market in stocks that have increased their net wealth.Â
Fitness services like personal training are still viewed as luxuries to many (though that perception is changing).Â ButÂ IC’s have discretionary income that makes fitness service purchasing an affordable luxury.
2. TIME -Â An increasing number ofÂ IC’s have flexible schedules, are semi-retired or have left the work force.Â This is priceless to personal trainers who now have access to a larger pool of clients available toÂ hire themÂ during the day.Â This allows trainers “normal work hours” instead of the before 9am and after 5pm and weekendÂ hours they are forced to take with clients working typical business hours.
3. PHYSICAL IMPACTÂ - Yes you can take a 25 year old and make a tremendous impact on their health and fitness.Â Yet all things being equal, those over the age of 45 have the most to gain by getting fit.Â Even more important, your Ideal Customer has THE MOST TO LOSE BY NOT GETTING OR STAYING FIT.
If a 25 year old doesn’t exercise they don’t face the same health risks,Â physiological decline and obesity riskÂ a 55 year old does.Â Again,Â I can throw outÂ stats on lean muscle tissue loss, metabolic slowdown, bone density etc…Â but let’s just trust our common sense.Â
4.Â Attitude of Prevention
IC’s (Ideal Customers) also embrace and value prevention strategies.Â They hire financial professionals to prevent loss of income in their retirement years.Â They purchase more insurance of various types to prevent economic disaster.Â Typically when taking the mandatory insurance physicals they get wake up calls toward their health.Â
This lets them quantify the savings in insurance premiums when their blood chemistry and vitals are in an optimum healthy range.Â Connecting health to dollars is data that makes a big impression on an ICs.Â It makes them appreciate the financial power of prevention.Â And the consequences of not having it.
You Can Make Your Fitness Business Free and Still Get Paid
I remember the first time a client told me I saved him money on his insurance.Â He came in smiling and said because we stripped thirty pound off him,Â which among other benefits got himÂ off beta blockers and cholesterol meds his insurance premium dropped by $5,000.00.Â (Not to mentionÂ his out of pocketÂ cost of his medications)
I smiled and told him that his savingsÂ meant he had just paid for his next 50 sessions.Â Not a bad deal – working out 50 times for free.Â Everybody wins.
Think About It
I’m sure you can recognize more reasons fitness related products, services and companies will enjoy the support of multiple Social, Physical and Demographic trends.Â These trends will certainly drive demand and put big profits in the pockets of those fitness professionals that are able to ride the wave.
Remember, the fitness water is fine.Â Build a ship, get a raft or surfboard.Â Â An ocean of Ideal Customers awaits you!
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