PT BUSINESS
PT START-UP GUIDE
You’ve done the thinking and now it’s time to go for it by becoming a Fitness Professional (e.g. personal trainer). Back yourself! There’s nothing more rewarding than seeing your motivation for health and wellbeing turn into a financial success. So where to start? This guide provides you with a quick-start reference to help you get off the ground.
These last two years have presented the greatest challenge our fitness industry has ever experienced.
It’s not just been in keeping our businesses up and running, including taking care of members and keeping them engaged, it’s also been about retaining staff – many of whom are not just leaving our businesses, they’re leaving the industry.
We’re finding more and more fitness professionals looking for greater job security, something that, during repeated lockdowns, is almost non-existent in the fitness industry.
So how do we fix our staffing issues?
We whip up an advert and post it on SEEK and you sit back and watch all of the applications roll in and you think to yourself how am I going to get through all of these CVs right?
Unfortunately, that is a big fat NO!
Gone are the times where our biggest concern is ‘how am I going to get through all of these CVs and organise interviews and work out who is going to be the best hire?’
Our industry has had over a 70 per cent decrease in applications compared to 2019 and in some regions of the country, it’s a lot worse than that!
Here are four points that need to be used in one complete talent acquisition strategy.
GET MOTIVATED
Know your ‘why’ in becoming a fitness professional
Find your motivation to kick-start your career in fitness. This may be because:
- You’ll be making a difference to your clients, helping them improve their health.
- Being a personal trainer can offer a work schedule with independence and flexibility.
- The fitness industry is booming, with Australians more aware than ever, of the importance of good health.
KNOW THE CHALLENGES
Consider what it’s going to take to succeed and get ready
- Be prepared to work around your client’s schedules.
- Creating an established client base will take time.
- Retaining clients can be hard – it is important to stay up to date with the latest trends.
GET QUALIFIED
Know what you need to do and seek out the best available options
In Australia, to become a personal trainer, you’ll need to hold at least a Certificate IV in Fitness. A Certificate III in Fitness is the minimum qualification required to work as a qualified gym instructor. You also may need an Australian Business Number (ABN), check out the links below to understand your requirements.
REGISTER WITH AN INDUSTRY BODY
Stay up-to-date and ensure that industry standards are maintained
Look to maintain continuous improvement in your career as a fitness professional and continue to expand your skills to meet changes in demand. Obviously, FITREC is the leading option for fitness industry registration in Australia – well, der!
CREATE AND MANAGE YOUR BUDGET
Forecast for your business and track your cash flows
Use a tool like Sole to track and manage your finances. By having an on-the-go accounting solution means that you can send out invoices after each session, schedule invoices (so you don’t forget), and get paid instantly through a secure e-wallet. Remember to consider professional financial advice that is tailored to your business.
UNDERSTAND LAWS AND REGULATIONS
Know the rules that will impact your business
Australian business laws can be complex and are strict in order to protect consumers.
The Australian Bureau of Statistics estimates 40% of Australian businesses fail in their first five years of trading due to issues with managing finances, specifically cash flows.
MANAGE YOUR RISKS
Insurance that is tailored for Fitness Professionals may be important to consider to protect you against claims of professional negligence and third-party injury that may occur.
GET READY FOR TAX TIME
You may not have an employer who will automatically take your tax out of your weekly paycheck – you will be responsible for managing it. Speak to a tax professional to help you identify if any of your expenses are tax deductible (you will need your receipts).
- Use Sole’s Tax Estimator to forecast your tax payments throughout the year.
- You may not be required to pay yourself any super, but do some research to see what works for you.
- Make sure that you are putting aside sufficient cash in order to make payments before the end of the year.
GENERATE BUSINESS
- Set up a website for your business.
- Build a strong social media presence.
- Impress your clients and look for referrals.
- Time management is key and remember to build in some ‘admin’ time.
MAINTAIN YOUR FITNESS
As a Fitness Professional, your business starts and ends with your ability to inspire confidence and change in your client’s health. Your personal fitness is your business card. In order to keep clients coming back, it’s important to live a healthy lifestyle, and stay fit enough to support your clients in a variety of exercises.
KEEN TO GET STARTED?
Try Sole for free today and see how it can help kick-start the process for you.
Disclaimer: All information above is general in nature, and doesn’t take any specific consideration about your business into account. Consult with professional business advisors and legal professionals when considering your needs.
Sole
Sole is an Australian accounting software built to support sole traders, freelancers and the self-employed in Australia. Sole focuses on the Australian accounting and tax landscape, to provide the best possible tools, and to deliver a service that is fit for purpose and easy to use.
