I have been a trainer for 2 years now in August. I started off working for LA Fitness in Michigan where i live and the pay was horrible for having a bachelors degree first of all. I had great clientele, but left in search of another job with a different gym because the amount i was making was not enough to take care of my son. Now i am at Anytime Fitness where i absolutely hate where i train. I need to setup my own LLC but do not know how to even start that. Help on why Michigan is so bad with personal trainers making a living for themselves and just starting out?
This is going to be advice from 20,000 training sessions and owning a fitness studio. Starting an LLC will not make money appear. The business does not get easier you will always need new clients and learn how to run a business. The truth is most do not make it as a full time business owner or full time fitness professional. Basically what I am saying is setting up an LLC is extremely easy being a business owner and/or a successful fitness professional is much more challenging.
You’ve already gotten some great advice on setting up your LLC, I’d caution you to be sure you have a solid business plan before letting go of your current position. As a small business owner, you’ll still struggle at times to get clients and establish a reputation. Spend some time now to evaluate what type of business you want (all personal training, small group, boot camps, etc), who will your clients be, where will you train, how/where will you market, cost structure, fees, forms, web presence, business accounts, etc. Learn and take from your past experiences both good and bad.
Hi Holly. While setting up an LLC is truly pretty simple, unless you have some legal training, I’d highly recommend that you find yourself a good business attorney to help you with this. While this is NOT a legal opinion, I’d say that LLC’s truly give most of us the ‘best of both worlds’ in that in most instances you can operate it almost as if it’s a sole proprietorship, yet you get the liability protections of having a separate entity (similar to having a corporation). Talk to your attorney about your particular situation and whether an LLC is a good option. In almost every case it’s worth it!
I am a sole proprietor myself, my accountant totally supports it!
I think deciding how to handle your business status is a very small part of what it really takes to run a business.
Write out your business plan and consult with as many professionals as you can in your field.
Find a niche and focus on your strengths.
Don’t be discouraged because you don’t like where you train, instead, take it as a life lesson that training in gym setting isn’t for you!
I was inside managing a studio for 20 years, I never knew what I was missing! I’m now doing outdoor bootcamps and in home personal training and loving it.
Find out if someone can mentor you, or if you can shadow them.
I live in Wisconsin, and it is the State that issues LLC’s for a fee. I believe I pay $125.00 a year and $10.00 for the official certificate. An LLC will better protect your personal assests in a law suit rather than a ‘sole proprietership’.
Do not rely simply on the LLC or your Professional liability insurance or waivers, to protect you. You can still be sued, so yes find an attorney you trust for advice if and when you may need it.
It is HARD starting out on your own. I’m into my 2nd year at it, and am still struggling with a shoestring budget. Every dime I can beg, borrow or steal goes into my my business which still seems like a “big black-hole”!