Is a personal training certification sufficient to establish your own business? Is a college degree needed?
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No, but then you are competing with other trainers who have more education behind them and it could be a great advantage/asset for them. Sometimes experience can make up for luck of college education, so if you have enough of that then you might be one step ahead of the some other trainers.
No, you don’t need a degree. It doesn’t hurt, but I have known many, many professionals over the years who are excellent fitness professionals despite the fact that they have no formal academic background. The real keys are knowing your scope of practice and caring for the benefit of your clients.
Study as much as you can. Gosh, there are so any great resources–IDEA, ACE, ACSM, NASM, AFAA–and the list goes on. And don’t ever stop studying, knowledge keeps growing. And the one thing that I would add is that you should always feel comfortable in saying “I don’t know” when you are asked a question that you don’t know the answer to. It’s not a down, but the great thing is that you know where to find the answer!