I have two personal trainers that are working for me and I want to give them a retention bonus every time one of their clients re-signs for more personal training sessions. Can you give me some insight/advice on what is a fair rate to pay. When they sign up a new client, I give them 10%, so I am assuming the retention bonus will be less, since it will be residual.
actually, I think that the retention bonus should be more. Even though, on the surface, it seems counter-intuitive but repeat business is more valuable than having to find new clients over and over. Giving a little more bonus for re-signs gives them the incentive to do their very best to the end rather than going around hunting for the ‘new client bonus’.