There are several ways to do this based on your interests. I like “passive income” so that I have a product out there bringing in an income for me without a “continuing need” for me to work with it. For example, I have authored a book and a continuing education course both of which have the potential for providing a continuous income stream once they have been created. Also, since I like to write, writing articles for paid publication allows me to achieve additional income without adding to my training time. These are just a couple of ways in which a trainer can bring in additional income without increasing their training time.
I hope this provides you with a couple of ideas.
You can hire additional trainers if you’ve established a brand for yourself and take a percentage of what they earn for helping them grow their training business – this is all if managing and working with a team is an option for you.
Partner and Group training are great solutions both for you and to open up to a new layer of the market or retain clients who might have reached initial goals but want to continue with you and like the idea of lower rate but continued accountabilty.
Products. You can either work as a dealer for some specific companies making a small percentage for sales of equipment you might recommend to them. Or come up with your own: a workbook based on a formula you use with clients, a niche that you have already but haven’t explored. An e-book is something low cost to you but brings in passive revenue to you any time. A logbook for clients to use that might include nutrition, activity, etc the possibilities are endless. If they love you they might just love your product for themselves, their friends and their relatives.
Great question Christy! As all trainers know, raising rates can be tricky and in this economy, it may kill your business. To add additional income you may want to look at the following ideas:
1. Small group training. It cuts the price per client to a very reasonable rate (good for the current economy), the clients get to interact with others (great for motivation), and the trainer makes more money per hour. For example; 4 clients at $25/1 hour session will give you $100/hour vs the usual $50-$60 for the single client.
2. Phone or on-line coaching. You may first want to get certified for Wellness Coaching but you could even begin with your own clients for free. Word of mouth is the best advertising, so when you are ready to put a price on your time, tell the people who you’ve worked with already to begin spreading the word. It will take emails and phone calls but most trainers currently do that anyway.
3. Public speaking. I enjoy speaking to schools and corporations on health and wellness. At times I have been paid handsomely for my work, other times I have done it voluntarily. I have many different lectures along with PowerPoint presentations so I can be ready to present at any time. I also enjoy participating in health fairs.
I hope this helps you a little bit. I find that diversifying my work increases my income and I work smarter instead of harder.