How To Hit Six Figures in Fitness

January 19, 2021

January 19, 2021

The secret to making six figures as a fitness pro is simple. Treat your fitness business like a business in any other industry. Of course, unless you went to business school, you probably didn’t actually learn how to be an entrepreneur in that field so that’s what we’re going to chat about today. 

As a designer, I learned about design principles, art, art history, and some marketing when I went to school. I knew how to create a portfolio that would get me a job at a marketing agency. But not how to run my own. So I took courses and hired coaches to learn just that.

And much like the design industry, I think there’s a misconception in fitness that you have to trade time for money. So unless you’re teaching classes 24/7 you’re not going to be able to make a significant income. If that’s one of your limiting beliefs let’s move past that. Here’s how. 

What do you/could you offer? 

To begin, it’s helpful to think through all of your options. What income streams do you currently have? or What could you offer that you aren’t currently? This task is not meant to overwhelm yourself with too many different pieces, but to understand your options. You’ll make yourself crazy trying to offer everything and that won’t be the best use of your time. But we don’t always take the time to imagine where our business could go, so this is a good opportunity for that. 

Some ideas for potential income streams include:

  • Group Classes (virtual and in-person)
  • Private Training
  • Courses
  • Affiliate Links
  • On-Demand Membership
  • Shop
  • Retreats
  • Events

Break it Down And Do The Math

Now that you know your options you probably have an idea of the services you’d like to offer. So now we simply have to do the math to figure out how you can hit your income goals. 

How much are you charging for each service? Multiply that by how many clients you have or would expect to have. Now if you’re not at your income goal yet, could you charge a little more for each? Or could you up your marketing efforts and aim to take on more clients/members? Or do you need to introduce another source of income?

I’m sure this concept seems straightforward so I’m not trying to dumb anything down, but I know I like a visual so let’s break it down.

$[Price] x [# of Clients] = $[Income]

$[Price] x [# of Clients] = $[Income]

= Total Income

Breaking it down like this may also help you recognize where you might be putting too much effort. If an affiliate link only gets you a couple dollars for each referral and you don’t have a large following, your efforts might be better spent elsewhere. If you’re maxed out on available time, you probably don’t want to teach more classes, but maybe you could grow your membership or number of students in your course. Which leads me to my next point.

How will these income streams work for YOU?

Whatever you decide to offer, make sure it works for you and creates a life you enjoy. How are you going to set up these income streams so that you’re not pulling your hair out? Are there enough hours in a day?

Sure, private clients pay well so why not just spend 100 hours a week teaching privates and raking in the money. Because you want a life. The beauty of entrepreneurship is that you can have some control over what your day looks like. 

Do you want to travel anytime you want? Then focus on income streams that are virtual. 

Do you hate waking up early to teach? Teach on your own time and record classes for an on-demand membership

You have SO many options. And when you look at it that way, it’s pretty exciting to think about what you want to do with them. 

Where do you need to invest to make this happen while staying sane?

Finally, as you figure out what this six figure, dream entrepreneur life looks like for you, you might begin to realize that it includes some outsourcing (link to outsourcing post). Once you’ve established a consistent income, outsourcing is a great tool to simplify your life and get back time. It’s likely you can pay somebody to do something in less time than it would take you. Then, you can get back to your zone of genius and the work you enjoy and profit from. 

To recognize areas that would benefit from some outsourcing, it’s a great idea to track your time. I love using the app, Toggl. It’s free and super simple to use. I can look back at the time I spent in different areas of my business and decide what’s taking up too much of my time. If a task takes me 10 hours and I can pay somebody else to do it better in five, it’s probably money well spent considering I can use that time taking on more clients (or getting a full 8 hours of sleep). 

Potential tasks you could outsource include (as a start):

The fitness industry is at an exciting time. You have so much potential to create an independent business that reaches people around the world and helps you build a life and income of your dreams. You just have to decide what that looks like. 

And if that six figure business of your dreams includes a fitness website where people can sign up for all of your services, check out the site shop.