Your “business model” is the way you set up your business- it includes things beyond content creation, IG optics, and vanity metrics. It includes things like: how your clients pay you, with what terms, and in exchange for what? It includes your offer suite and how each service operates. It includes how people move from the day they meet you to the day they become a client. It’s whether or not you offer memberships, require deposits, charge per session, or have packages.
Whether you think you have a business model or not isn’t the question. If clients are paying to work with you, you have a business model. Whether it’s working or feeling good is the question 😉
Your business model is the foundation on which the rest of your business sits and functions atop of. Makes for boring IG content- but it’s an important part of the conversation when it comes to building, growing, and sustaining any business- but especially a personal training business.
Here are 3 signs it may be time to redesign your business model:
1. You can’t take on new clients without adding an extra day to your jam-packed work-week.
2. Your cash-flow is at the mercy of client consistency.
3. Feast or famine. You’re either scrambling to find clients or bursting at the seams.
If you’re dealing with #1:
The infrastructure of your business is not scalable. “Scaling” means being able to leverage your time. “Scaling” does NOT just mean “making more money.” If you have to work MORE hours in order to make more money, your business is not currently scalable. In some cases, you may not WANT to scale your business- and that’s ok.
You may consider holding limited spots for high-touch 1:1 access to you and creating more manageable containers for your other clients to fall into. You can do this in-person or online. You can have a higher tier, higher access package to you (think: 1:1 personal training) and have a lower tier or tiers that allow clients to access you at a farther proximity either due to frequency, group size, customization, or all three.
If you’re dealing with #2:
You may consider moving to a subscription or membership based model where clients do not pay per session or per hour with you, but rather are billed the same fee each month in exchange for access to more than just live sessions with you.
If you’re dealing with #3:
Consider implementing the above listed for #2 as well as making sure your clients are signing agreements and contracts that outline the minimum length of their agreement and details a payment schedule.
You will also want a more predictable approach to client acquisition– where are you getting your leads, how can you nurture them, and what’s your on-boarding process like?
Dealing with one of the scenarios here? You can book a 90-minute intensive with me & we can redesign your business model together ☺️