| I must admit, it's beginning to get on my nerves a | | | | there are groups of people out there who don't |
| bit. I mean all this talk of recession. It seems | | | | consider ANY price (or at least, any price that a |
| everyday I'm getting emails from personal | | | | personal trainer could ask) as expensive or |
| trainers who're panicking because of impending | | | | luxurious. They simply decide what they want and |
| recession and worried thattheir bootcamps, their | | | | are determined to get it because they see it as |
| studios and their gyms are going to go underor | | | | an asset or investment that will benefit them. For |
| see such a big drop in business that they'll be | | | | example, my clients pay me £130 |
| struggling toget by and pay their bills. The sad | | | | and hour (that's around $250). |
| thing is, most of them are right! Not because | | | | The kind of people that can pay that kind of |
| there's not enough business to go around and not | | | | money aren't worried about inflation, depression |
| because people are spending less but because | | | | or recession. They simply know what they want |
| they're choosing to accept that recession exists. | | | | and are willing to pay the price to get it. I've |
| It doesn't. Not for everyone, anyway. Sure, it's | | | | routinely been paid £2500 ($5000) |
| easy to think that when something like a | | | | plus for a day's work. I've been paid |
| recession comes along that we all have to 'tighten | | | | £30,000 ($60,000) for a single |
| our belts', curb our non-essential spending and ride | | | | month's PT plus $1000 a day expenses whilst |
| out the storm until the next upswing but that's | | | | travelling. Right now I'm putting together a PT |
| because we've been trained to think that way. | | | | program that will cost £10-12,000 a |
| And we've trained ourselves to think that way | | | | week. Yes, you read that right, per person per |
| too. But the truth is, the only reason that so | | | | week. And all of this (and more) is going on during |
| many people get hit so hard during times of | | | | a so-called downturn. How? By removing myself |
| recession is that choose to play the recession | | | | from the luxury market of people who have to |
| game. Especially personal trainers. | | | | scrimp and scrape to work with me and instead |
| They see their client list get smaller and their | | | | focusing my efforts on those with greater |
| appointments drop off and so they start to | | | | affluence. Those who know what they want and |
| discount their prices to attract more business. But | | | | are happy to pay for it regardless of the |
| the clients still don't come so they discount them | | | | percentage rate the banks are charging. To them, |
| even more. If they're lucky they may see a little | | | | it simply doesn't matter. Not one little bit. |
| rise in business only now, because they're charging | | | | If you're thinking "That's all great for you Dax, but |
| less, they're working longer hours, earning less | | | | how does this benefit me?" then here's your |
| money and in danger of losing even these clients | | | | answer. Put your prices... UP! Seriously, put your |
| as the recession kicks in. Sad to say but this is | | | | prices up. Move away from those who consider |
| what most personal trainers will do. In fact, from | | | | your services to be a luxury and instead start |
| the emails I'm receiving, many are already doing it! | | | | marketing to the affluent, the wealthy and the |
| So that's the bad news, but like I said, it doesn't | | | | downright rich. Sound too mercenary? It's not. |
| have to be this way. There's something you can | | | | Working with the affluent is no easy ride You'll |
| do TODAY to not only avoid the recession but | | | | earn every single penny you earn from them. |
| thrive during it. You can stop being a 'luxury item' | | | | They expect better service, better results and, |
| to your clients and start becoming an asset. What | | | | well, better everything. And they're right, after all, |
| do I mean? Well, what's the first thing that goes | | | | they're paying for it aren't they? They're paying |
| out the window when people are struggling | | | | for exclusivity, for that little bit more, that |
| financially? Luxuries, right? Or in marketing speak | | | | 'something extra' that isn't delivered by the $40 |
| 'non-essential spending', meaning everything that's | | | | and $50 an hour PT's. So you've got to be better |
| not essential to that person's ability to get through | | | | and, more importantly, you've got to be seen to |
| life. Food, mortgage, utilities etc are all essentials | | | | be better. And better is more expensive, no if's, |
| that people MUST have. New cars, personal | | | | no but's. Look, I know this runs contra to |
| training, opera tickets on the other hand are, for | | | | everything you've ever been told about recession |
| most people, luxurious, non-essentials that are cut | | | | but nevertheless it's true. Putting your prices up, |
| as soon as the R-word begins to be taken | | | | taking your business 'upmarket' and deliberately |
| seriously. | | | | attracting the affluent is the best way to |
| And here's the problem; the way most personal | | | | recession-proof your business. Still not sure? |
| trainers market themselves is based upon the | | | | Try this; add a high end service to your current |
| 'luxury items' model. They sell their services to | | | | marketing materials. Call it 'platinum coaching', call it |
| people with disposable incomes that, most of the | | | | what you want but make it clear that this is for |
| time, allow for the 'luxury' of personal training. | | | | those looking for that something special rather |
| These people are 'treating' themselves to PT, | | | | than simply personal training. Proudly state that |
| they enjoy it (mostly!), they want it and they | | | | you're the most expensive coach around (I do it |
| may even need it but it will always be something | | | | all the time because I am) and then wait. It may |
| that they're happy to keep in their lives for as | | | | take a little while but sure enough you'll come to |
| long as it doesn't interfere with their necessities. | | | | know that what I'm telling you is correct; they're |
| Trouble is, for most trainers this group makes up | | | | out there. Money in hand. Ready, willing and most |
| the largest proportion (if not all) of their client | | | | able to pay you every single penny you're worth. |
| base meaning that they ALL purchased their | | | | They always have been; you just never asked |
| sessions with you based on price and will all quit | | | | before. So ask! |
| when the price seems too high. Yet consider this; | | | | |