Comments on: BAD NEWS BUT GOOD PRESS – Hard Financial Times For Personal Trainers Covered In PAGE SIX MAGAZINE …

By: Kaiser

Kaiser — Thu, 23 Oct 2008 15:12:32 +0000

Real funny, a client actually used the words “you’re a luxury item” to me during a convo we had recently about the economy – I’ve talked to all of them about their status during this situation – most are upset over drastic drops in their net worth, although they’re all confident it’ll at the very least rebound – not the best situation, but at least it’s something. A couple of spouses are really sweating, one’s that are in the investment sector – let’s see if I get hit indirectly because of that, but I’m hoping I won’t.
I think once Barack gets elected confidence will be restored, stocks will go up, and people will just feel good and start spending more –
If by some strange chance he doesn’t win, I’m giving my buddy Marc Lebert a call in Canada if he has any training jobs up there!
- Sorry to hear about you guys that have been affected – yeah Doug, you’ve got the right idea –
- Yeah Eugene, even when you’re working less you’ve got to have your eyes open – as trainers we can do whatever we want, but with that comes a certain responsibility – even when I’m having fun, it’s to do something new and challenge myself -

By: Doug Murphy

Doug Murphy — Wed, 22 Oct 2008 22:26:38 +0000

Great reality check post and comments. Luckily the clients I lost were all replaced by new clients within 2 weeks, but I agree that it may be necessary to make some adjustments in our business models. In a major sign of the times, I’ve been getting more inquiries than ever about joint or couples training, by people looking to keep up a training program but bring down the cost. I don’t normally do this, but right now there is such a demand that I am considering it. Eugene is so right about using your new found free time wisely-not only looking at developing other revenue streams, but it’s also a great time to do more continuing ed or go after an extra certification to make yourself as marketable as possible.

It’s also important to develop a waiting list during those times when you have an overflow. I always let a potential new client know an estimated date I could start with them, even when I’m fully booked. Having this reserve of possible clients really saved me when I lost a client who worked for Fannie Mae, and others who have been immediately impacted by the current economy. I was able to follow up and schedule several waiting list clients, minimizing the impact of losing the old clients.

By: Harry Kellerman

Harry Kellerman — Wed, 22 Oct 2008 17:15:41 +0000

I agree with you Kaiser – the media makes a big deal out of everything. They always seem to warning about recession, and now for once they were right. They just end up scaring everyone. I remember reading that the negative stories about the economy are twice as high when the economy is good than when it’s bad. Thanks for making a positive story out of it, and the other guys are right – we just need to step up to the challenge and find ways to get through it. It will make us better trainers and better business people!

By: Eugene Thong

Eugene Thong — Tue, 21 Oct 2008 03:11:58 +0000

Kaiser,
Trainers may be a luxury item, but it all comes back to value – how much value you give to clients with your services. And you’ve targeted clients who can readily afford your services (i.e., have ample disposable income), so unless their ID badge reads “Bear Stearns”, things should be okay.
At least, until Bernanke starts trying to shake things up again.
And let’s play Chicken Little: What if clients began dropping off in droves?
I’d use that free time to explore other revenue streams: Training manuals, DVDs, CDs, seminars, boot camps, membership sites, certification programs; any and all of those things that you might’ve been interested in doing but didn’t have the time to cultivate because you were too busy training or taking care of the business.

BTW, your site looks great!

By: bill moore

bill moore — Mon, 20 Oct 2008 13:39:29 +0000

funny, I just read this morning that 3 things havent been affected by the economy, they are chocolate, alcohol, and cigarette sales.
Luckily, we have been solid, only 1 guy (real estate) has cut back to 1x per week.
I use this time for “gut check” talking with my staff about just the things you talk about !!!

By: Somagenesis San Diego Personal Trainer

Somagenesis San Diego Personal Trainer — Mon, 20 Oct 2008 04:28:17 +0000

Hello Kaiser,
I always look forward to reading your well written posts, but I beg to differ on your opinion. I have seen dramatic changes in internet traffic for Sept 2008 and Oct 2008. I have been tracking customers and conversions since 1999 and keep a statistical database. My company has seen a 75% drop in traffic inspite of increasing our marketing
dollars. We have lost 1 clients due to the recession. I’m sure more wil quit. Phone calls that we now receive, which are rare, are very much bargain hunters and claim they have been getting quotes as low as $40 per session from other trainers here in San Diego. I have not budged on my prices yet.

The client I lost was the Maybach Sales Director for Mercedes Benz here in Carlsbad CA. We have been training together for 4 years now. She typically averages 62 MBZ sales per month. Sept the entire company only sold 5!!!!! They will begin layoffs! YES big ticket items and the wealthy ARE cutting back…..

I believe that trainers who stand still, and do not reorganize their business plan will be come an attrition figure. I expect this number to be HUGE. This recession will weed out the non-entrepeneurial and only the strong pro active ones will survive.

We are developing a new business model and I will let you in on it once I launch it. This can be a game saver for all of us.

In the mean time, i am maxing out my marketing/ advertising dollars, doing corporate and health care seminars for greater exposure.
I am not a nay sayer, but this recession is for real ,and everyone here in San Diego, CA, including the wealthy are battoning down the hatches.