In this week’s issue I’m going to show you how to create a reliable and consistent monthly revenue stream and never have a “slow season” ever again - not even during the holiday season.
In fact, what I’m about to share with you will increase client retention, create predictable recurring monthly cash flow for your personal training business, and give your clients more permanent results. And did I mention that it’s easier on their budget?
What I’m talking about is EFT. (Electronic Funds Transfer)
And there’s no one more qualified to tell you about EFT and personal training than me.
How’s that for a bold statement? 
This model works flawlessly whether you are an independent trainer, studio owner, or bootcamp operator. But in order to benefit from EFT you’ll have to stop selling fitness the old fashion way.
What I mean is:
You can’t sell single sessions.
You can’t sell small blocks of 5, 10 or 15 sessions.
And if you run a bootcamp, you can’t sell 4 week bootcamps.
Now, if I just crushed your entire business model, then truth be told, it wasn’t much of a sound business model to begin with. Here’s why:
Why in the world would you offer single sessions anyway? Show me one client out there who is going to benefit from a single session or a handful of sessions.
A handful of sessions are not going to produce permanent results and a positive lifestyle change for your clients. And you and I both know that there is no predictability in income when you sell single or small blocks of sessions.
And why in the world would you want to sell a four week bootcamp and end up having to resell them or lose them after the four week camp is over? Unless you like the idea of always looking for more training clients, the old way of selling fitness is not for you.
You may argue that your clients always “re up” and buy more sessions when they run out. To me, that’s all the more reason why you should ONLY offer recurring, EFT based programs.
I don’t know about you, but I don’t want to be a bill collector or sales person every time a client runs out of sessions or finishes a four week bootcamp. I want to be a trainer. I want to deliver results. And I want to know that once I sell a client I never have to sell them again. And for that I deserve recurring, reliable and predictable income.
Just makes sense, right?
Here’s an example for you:
Let’s say that we agreed that you’re going to train me twice a week for a month. And let’s assume that you change $45 per session (that should be 30 minute sessions - but that’s a newsletter for another day). So we’ll assume that I’m buying 8 sessions for $45 per session for a month. Total: $360
Now next month you’ll have to sell me again. And IF I agree to continue I’ll have to write another check or hand you a credit card again. Why would you want to go through this process with all of your clients every month?
There’s a better, easier way and it’s called EFT or recurring billing.
Using the same example above you would sell me eight sessions per month. But the agreement is that every month on the same day I will automatically be charged for another 8 sessions (until I choose to discontinue).
This is a total win/win for you and your clients.
You clients get better more permanent results because they end up training with you for a longer period. They don’t have to be bothered by writing checks and remembering to pay you on time. And because the program is paid for monthly they can afford a longer program.
You, on the other hand, will start building monthly receivables that are predictable. Imagine this: Let’s say that you only have ten clients. And let’s say that on average each client is paying you $360/month.
Wouldn’t it feel good to know that as long as you are servicing your clients that you have $3600 coming to you next month - electronically - automatically.
Now imagine if you could add just four new clients per month at $360 to your EFT. After four months you’d be generating $9,360 in recurring monthly EFT. And after twelve months at that modest pace you’ll be doing $20,880 PER MONTH in EFT.
And now you know how we created not one, but two $25,000,000/year personal training companies. And you can do the very same IF you take action and get it done.
If you want to know more about running your personal training business on EFT then you’ll want to pick up my PT Business Course where I show you:
• How to present your programs for EFT
• Scripts to sell your EFT based training programs
• Which EFT billing software to use
• Best dates for EFT billing
• How to structure your EFT agreement (sample contract provided)
• And so much more!
