PT BUSINESS
Getting Your Fitness Business Started: 7 Tips For Personal Trainers
Note: This guide is not tax, legal or accounting advice. Always check with your accountant or relevant expert to make sure you’re ticking all the right boxes for your unique situation.
Step 1: Registering a business name
First things first, you’ll need to register your business name if you’re trading under anything other than your own name. This is done through the Australian Securities and Investments Commission (ASIC). For a small fee, you can have your PT business name officially registered, giving you credibility from day one.
Step 2:
Getting an ABN
An Australian Business Number (ABN) is essential for invoicing, tax and claiming expenses. You’ll need it whether you’re running a full-fledged fitness business or just a side hustle. Registering for an ABN is free, and you can apply through the Australian Business Register (ABR) online.
Step 3. Tax file numbers for PT businesses
For sole traders, your personal Tax File Number (TFN) covers your business tax requirements. However, if you’re setting up a company, a separate business TFN is needed. For more on TFNs, visit the Australian Taxation Office (ATO). It is important to have a chat to your accountant to help set up your business correctly.
Step 4. Consider a business bank account
It’s definitely worth having a business bank acount when you’re a sole trader. Having a separate bank account for your fitness business keeps personal and business transactions clear, making tax time and cashflow tracking easier. Many banks offer business accounts with features that help with expense categorisation, so it’s worth shopping around to find the best fit.
Step 5. Claiming expenses as a PT
You can claim eligible business expenses, which may include equipment, gym space rental, travel to clients’ homes and professional development courses. Just keep track of receipts and invoices for anything you plan to claim. Remember that claiming business expenses reduces your taxable income, so it’s worth doing right. The ATO has a detailed guide on claimable expenses.
Step 6. Business compliance
Compliance isn’t the most exciting part of running a PT business, but it’s critical. To be fully compliant, you need liability insurance to protect you if clients get injured, and potentially professional indemnity insurance depending on the services you provide. Check the insurance requirements for your local council as well, especially if you’re training outdoors.
Step 7. Cash flow management: getting paid on time
MORE FAQs from PTs
Do I need to join a professional fitness association?
Can I train clients in parks?
What’s the best way to manage client bookings?
An online booking system is a great way to stay organised and minimise no-shows. Systems like Mindbody, Trainerize or even simple tools like Google Calendar can help you schedule and remind clients.
Are there legal requirements for client waivers?
Yes. Having clients sign a waiver protects you in case of injury. There are plenty of templates available but getting one drafted by a professional can ensure it’s airtight.
How do I register for GST?
Registering for GST (Goods and Services Tax) is only required if your income is over $75,000. You can do this through the ATO’s online services. Have a chat to your accountant if you have any other questions.
Want a more detailed breakdown of what to do? Check out this guide from Sole to get your business started.
Johann Oberholzer
Johann is the CEO and Founder of Sole, an accounting and business management software company dedicated to simplifying accounting and business management for sole traders and small businesses. His entrepreneurial spirit and strategic vision have been instrumental in establishing Sole as a leader in its field, focusing on affordability, accessibility, and empowering small business owners across diverse sectors.
