Hey guys. It’s me, Dax Moy from Personal Trainer Success Academy and fitsystemtraining.com coming to you today with just a very, very short message of some, I guess some really important things that I’d really like you to consider about the direction that you’re taking your fitness training business, your personal training business, your bootcamps, and so on and so forth.
See, there’s a lot of personal trainers out there, a lot of fit profs that have bought into this idea of lack that there are some real struggles going on out there in the marketplace at the moment that mean that they have to do all of their work on groupon, that they have fight all the time because they have to continuously be looking at discounting their services and chopping their prices down and kind of really, really working hard to get the money, to extract the money from the clients who if you listen to the most popular stories at the moment, these clients just really don’t want to pay above the odds. They don’t want – many of them don’t want to pay the old rates, right? They don’t want to be paying just even the base price. They’re all looking for discounts and they’re all looking for money off and all the rest of it.
And this is a story that’s going around in the industry at the moment. Like we’ve hit really, really hard times. OK? That there isn’t really any money out there and we’ve just got to kind of take what we can get. And I just want to take a couple of minutes today to really address that and talk to you about the fact that that’s not really the truth, OK? You can buy into that all you want. You can tell some of the story of that and you can say, “Well, where I come from, there just isn’t money for this and there’s just isn’t money for that.”
And I absolutely promise you that even the towns where you come from, there are people that are wealthy. There are people that have a lot of money. There are people that are driving really flashy cars, have memberships at golf courses that probably cost more than – it costs more to be a member of the golf course than maybe you earn in a year, right? In country clubs and so on and so forth.
There is a lot of money out there. And this isn’t just a kind of push from me saying, “Go out and find the money.” But what I’m saying to you is that stop making excuses for yourself about the fact that you’ve got to do things on the cheap and that you’re always going to be having to put your prices down. I’ve got some stats in. These come from my Fitness Marketing to the Affluent program that I run. Here are some things, some very interesting stats and they’re related to kind of the Affluence Model in the United States at the moment, OK?
The Affluence Model tells us that right now in the United States, there are over 10.8 million US homes with – who would be considered affluent, right? So what that means is that they have a household income, disposable income of $75,000 to $200,000 per year. That brings them into the affluent kind of end of the scale. That’s quite a lot, right? 10.8 million households, right?
So on the one hand, you might say, “Well, that’s not very many kind of considering how many people live in the United States.” But that’s still enough, right? We’re not looking for like a million clients each. We’re not – most of us only looking for a hundred clients each. And certainly, when you’re looking for these very highly affluent people, you’re not looking for very many of them at all. You can get pay – you can actually on a very, very good living working very few hours with some very, very high-end clientele, right?
So, we’re talking about 10.8 million households. This is where it gets even more interesting. The affluent – so the affluent, we were just talking about the near affluent. Now, we’re talking about the affluent. They fit into the $100,000 to $200,000 per year household income. This might surprise you, 10% of all US households actually fit into that bracket, 10%. Ten percent of all US households fit into the $100,000 to $200,000 per year income bracket. And yet, we’re still saying that there’s a shortage of money. I don’t think there is but it gets even more interesting because the wealthy so people that are actually considered wealthy as opposed to affluent, they are kind of according to US statistics, the wealthy sits at $200,000 plus per year household income. OK? Over two and a half million US households actually sit in that particular bracket right now, right at this minute because these very, very up-to-date statistics.
And what about high net worth, high net worth individuals, right? So these are basically people that are a million dollars plus or a high net worth, million dollars plus. And the stats here tell me that by 2016, over 19 million households in the United States will be high net worth. In other words, over 19 million will have over a million dollars to play with per year, right? That’s a lot of money, right? I mean these are crazy stats. They come from very, very trusted sources. I paid quite a lot for my stats. I buy reports on wealth. I buy reports on kind of wealth statistics from different countries particularly the US and the UK. And these are very, very accurate because they’re done by big banking organizations.
How about ultra high net worth individuals, ultra high net worth, three million dollars plus, OK? And it says that by 2016, there will be over five and a half thousand $3 million plus people within the United States which again, five and a half thousand doesn’t sound that many. But you we don’t need very many people.
So what that says is that there’s been a 178% increase in people – in the last ten years. A 178% increase in people kind of reaching the $3 million mark, OK? Now, what does all of this mean and what does it mean to you? Well, what it means is you’ve got to stop telling yourself the story of lack because all of the statistics related to wealth actually showed that the wealthy are getting wealthier and that there are more of them than any other time in the past.
So we can talk about recession. We can talk about kind of certain elements of your market maybe not being to afford your services. But what you’ve got to understand is that you’re probably focusing on selling – what is it we do when times get hard? We noticed that the people we’re working with suddenly have a little bit less money, OK? And now, we start to panic and we say, “What do we need to do? We need to change our fee structures. We have to put off this down. We need to make it more affordable.” That’s one way of doing it.
I’m certainly not saying not to look after your current clientele but don’t forget there’s a second aspect to this. And this second aspect is for you to look in the marketplace for people that can afford your services. And not just can afford it but would happily pay you for a higher-end service than probably the one you’re delivering right now, OK? There are lots and lots and lots of people out there willing to spend a lot of money with you. OK? But they’re not spending that money with you because you’re only marketing to the lower-end or you haven’t necessarily built a service that would appeal to the very, very high-end of the market.
And this is really what I’ve done. This is what I’ve specialized in over the years. So right now in the UK, I’m regarded as the UK’s highest paid trainer/coach. And that’s a big distinction there actually because that’s what I do differently. I don’t just train people. I work much more as a coach. OK? So I offer a one-to-one residential program. I did nine weeks of it last year. It was $25,000 per person per week. And one of my clients came for three weeks last year, a remember of royalty. So she spent three weeks with me, $25,000 per week is quite a bit of money, right? It’s not too bad.
How do you get those kinds of clients? Where do you find them? What is it that they’re actually trying to – what is the experience that they’re trying to achieve? Not just the results, OK? A lot of us want the same results but what is the experience? Where did these people hang out? How can you access them? How can you put your story in front of them? Because I could tell you this, the way that you market for your current bootcamp and the way you market for your current PT programs will not work for the ultra high net worth people. It won’t work for the high net worth people. It probably won’t work for most of the ultra affluent and the wealthy, right?
So, all these sites that are absolutely jam packed full of testimonials with people’s before and after pictures and all of the long copy sales or the long sales copy, all of that is a waste of time on these people because that’s not how they buy it, that’s not how they come to making their buying decisions. So how can you find them? How can you put yourself and your messages in front of these people so that they actually buy your services?
These are some of the discussions I’m having and some of the trainings that I’m teaching at Sam Bakhtiar’s event next month in May in Vegas. I’m going to be taking two whole days to take a select group of people through understanding the mindset of the ultra high net worth individuals so that you can build programs, you can create marketing, you can basically create the right message so that you’re in front of the people that are willing to spend good money on an absolutely fantastic service as opposed to the people that maybe are trying to negotiate ten bucks off you here and five bucks off you there and who don’t really want – probably don’t want to pay even your current rates, OK?
So, it’s a very, very special program. I’ve only ran one so far in the UK. It went down really, really well. Like I said, I’m coming out to Vegas, kind of I’m sure beneath this video somewhere, Sam will probably put some bombs as links that will explain to you about how you can find out more about the event and where it is and what it cost and all that kind of stuff because I really don’t know much of that – most of that stuff. I’m going to turn up and I’m going to be teaching this.
Even if you’re not coming over, even if you’re not coming to the event, here is something I really want you to connect with. The statistics I just gave you are real. They’re not made up. They’re not bullshit figures that have been kind of drawn out of thin air. These come from some very expensive result – very expensive surveys by very, very influential and trusted financial organizations in the United States. So they’re factual figures. And what they are saying is that most of the story we’re telling ourselves about they’re not being enough money to go around and about people not being willing to spend a lot of money on what we do. Most of that is absolute bullshit.
So, I’m really, really excited to be coming to Vegas next month. I’m really looking forward to kind of take in those groups of people through understanding how they can find the ultra high net worth individuals. But at the very, very least, if you don’t come, I just want to plant the seeds of an idea in your mind that there are people out there right now with more than enough money to pay you what you’re worth as long as you’re delivering something amazing. That these people aren’t stupid and I don’t want you to kind of think that this is a, “Hey, let’s go out and kind of flee some and kind of let’s get the money from really rich people.” This is not about that. This is about saying that there are a group of people out there that are not necessarily being serviced by the industry very well. OK?
And if you can create something for them, not only are you going to get paid very well but your diary is going to be as full as you want it to be. You’re going to have all the clients that you want to have. If you still love doing some of your lower-end work, you can still do that because you’ll be earning more than enough money from the ultra high net worth individuals.
Anyway, that’s my mad rambling over for now. I’d say there are probably some links about down here somewhere that Sam has probably put there. And if not, I’ll be back in a few days with another short video that will just explain to you one or two small systems that I use to put myself in front of the ultra high net worth individuals. Until then, take care.