3 Ways to Instantly Make More Money In The Fitness Industry
When is it going to stop?
I’m seeing far too many fitness and health professionals like you going broke for all the wrong reasons…
The plan in the industry should be…
…to make the transition from fitpro to fitness business owner to fitnesspreneur in hopes of achieving financial freedom and independence …
…but the reality is that most people in the industry who are trying to make the transition to business owners are more broke as a business owner or want to be entrepreneur than they were as an employee.
Is that you?
Undercharging. Not getting the money you’re worth. Trading dollars for hours.
You leave at 5am, trying to sneak out and not wake the kids, your spouse left to fend for the day.
You work on your feet all day, stealing meals (if you consider shakes and bars meals) between client or class transitions.
If you’re one of the good ones, you’re capped. You’ve hit your ceiling for the number of hours you can work in a day, and probably haven’t raised your rates in years, so your income is falling behind the times.
You get home exhausted from giving to everyone else, you have very little in the tank to give to your spouse (unspoken truth that many relationships in the industry are struggling) and you have very little left for the kids.
If you’re lucky you get home to have dinner with the family, otherwise, it’s leftovers for you.
The worst part is you do this day in and day out. Where you wake up and serve all day, and then come home to fall down and do it all over again.
This is leading to burnout because you have very little time, energy and money to invest where it matters most- in you!
Yes, in you… so you can finally gain the new skills to create new offers, start building online, create workshops, events and high end offers so you’re making more money with less time, and you’re helping more people.
But because you have no time you just keep doing more of the same and you just keep getting deeper and deeper into the trap of trading dollars for hours.
It’s not fair that your passion to help people the way it’s always been done in the industry, is actually what’s pinning your dreams down.
It’s clear when we look at the average income in the fitness industry and the average life that the way we’ve been doing things is not giving people in our industry time or financial freedom. It’s actually frying them, capping their income and straining a lot of their relationships.
There needs to be a mindset shift…
You are healthy care today. You deserve to be paid like the medical field. That means stop allowing yourself to be taken advantage of and not getting paid what you’re worth.
Let’s stop the ridiculousness.
I’m in the industry for two things- to teach you how to generate wealth and to teach you how to architect the freedom lifestyle you deserve.
But, you gotta earn it by opening your mind to the future possibilities and stop doing what’s always been done as if that is leading to a dream life.
How do we solve the financial crisis you and so many others are facing?
In The Fitnesspreneur’s Life Show’s segment below, I reveal 3 proven strategies that will instantly earn you more money. You can also keep scrolling to read my money-making tips.
How To Go From Broke & Broken to Rich & Independent | Show Notes
Ah, the fitnesspreneur’s dream:
- Work when you want.
- Work with whom you want.
- And make as much money as you want.
Living the freedom lifestyle is when you’ve escaped someone else’s demands, needs, schedule, and BS to enjoy independence and earn more money doing what you love from any corner of the world and at anytime the clock strikes.
Here’s the sad reality, most people and maybe you; are in the same situation as the client I coached up this week (she who shall not be named :))
You’re making less as a business owner than you were as an employee. Or heaven forbid you don’t even see yourself as a business owner. I don’t care whether you work for a club or not, you’re in the business of YOU.
You have to learn how to promote and sell YOU, period.
If you’re not promoting you, you’re dead in the water, and will eventually sink beneath the waves of the people who know how to step up and step out.
That’s a huge freakin’ problem. And to be fair, I’m not pointing fingers because I went through the same exact thing. That’s why I’m the guy to help you.
Here’s how to flip the script, get your independence, and instantly make more money.
3 Surefire Ways to Instantly Make More Money
Money-Making Strategy 1: Raise Your Rates 5%.
By raising your rates a miniscule 5% each year, you can make 28-30% more year-over-year in the next 5 years. Do the math on that and you’ll be sitting pretty.
Even better, you’ll be earning way more money doing the same exact work you’re doing right now.
I’m not a huge advocate of always doing the same work you’re doing, because if you never evolve, you become obsolete. But, that’s a conversation for another day.
Right now, you need to know that you are worth more, and if you keep investing in your money-making skills (pretty important skills to have)…
…in 10 years you’ll have increased your year-over-year income at least 63%!
Think about what you could do with that extra money instead of scraping by…
…you could pay off debt.
…you could invest more in yourself.
…you could afford to take more vacations.
…you could afford to stay home with a sick kid.
…you could stay home out of the blue to be with your spouse.
…you could have more security in investments.
…you could order from a menu and not worry about price.
…you could upgrade your house, car, clothes…or whatever you’re into
If you think a 5% increase is too much, think again. As long as you’ve been treating your clients right, they won’t leave you over 5%. In fact, they won’t even bat an eye at it. But your bank account sure will.
And if you’re really dreaming big, double your rates. If clients bail, you’ll still be making more money and you’ll be working less. It’s a win-win.
This is advanced money math thinking.
Make more money with less people, and you have less people problems, less system problems, and less stress, but still live the life you want.
Think about this…All that extra time you just earned by raising your rates can go toward building out your passive-income offerings and setting yourself up for financial stability for years to come (I can coach you through that process here in our Online Fast Track: Your First Product to Profits).
By raising your rates and trimming your clientele, it’s less on you: less time, less stress, and fewer problems.
Charging what you’re worth is a mindset more than it is anything else. Of course there are metrics of costs and profit, but ultimately it’s about what you believe you can do for the value you exchange.
Anna and I raised out rates a $1000 overnight on one of our offers, just because we decided too. We wanted to have more of a cushion to reward our referrals and wanted that extra $1000 built in. All I had to do was go to my website and type in a few changes and in minutes our rates went up. We sold three of those offers since then which was an extra $3000 in 2 months with no additional work, cost, time or anything.
That’s how simply raising your rates can affect your future.
And it delivers more of what you want: Money :). And money = time freedom.
Money-Making Strategy 2: Transform a Current Offering Into a Premium Service
One of the fastest paths to more money is take what you’re currently doing and GO PREMIUM! GO GOLD! GO VIP LEVEL WITH IT!
Yes, you gotta think like a visionary to make this happen. You can’t be thinking small. You can’t be thinking “why would people pay top dollar for what I do?” You can’t do things the way everyone else is.
Instead, you go big!
Take something you already offer, upgrade it to deliver premium value, and triple the dang price.
The best way to do this is to add an element of SPEED. If you can save your customers time and deliver your solutions faster, they’ll be willing to pay far more than they currently are.
After all, there’s nothing more valuable time.
I personally did this with my Vision in the Vineyard program. I took my Visionary Coaching Program where I teach my students how to design their entire online product suite that normally can take an entire year or more to plan and I transformed it into a 2.5-day deep immersion experience where they got the work of a year done in 2.5 days! My clients leave with their 3 most important online products and offers created, but they do it FAST and get an incredible experience they’ll never forget along the way. This premium service has led to 6-figures in income from one offer we have. One offer.
That’s going premium. You can do it too.
Now that’s just one example of premium. But, what’s most important right now is that you realize that you can do this for your business.
All you need is the right mindset to go out there and command big money because you’re damn good at what you do and know how to deliver. (If you need help thinking this way, click here to get your Clear Vision Planner and train your brain for wealth).
Money-Making Strategy 3: Start Cross-Selling.
One of the best I’ve seen do this is a new restaurant in Portland called Arden, where every single course you get is paired with a wine tasting. Those wine tasting can change depending on the menu! This helps expose you to multiple wines in their inventory instead of you choosing one glass to drink. What’s the benefit? You taste multiple wines, they sell multiple bottles to you after dinner! Smaaaaart!
One of the things I’m always saying to the students in my courses is, “Learn from watching other industries!” Some of your most profitable ideas will come from outside your own industry.
You’ve seen this done in so many ways, you just have to adapt it to your business.
Car retailers upsell you on add on packages.
Clothing retailers upsell you on accessories.
Airlines upsell you on car rentals and hotels.
You need to be telling your clients all about the other products and services that complement your signature offerings.
That’s cross-selling in a nutshell.
Start with nutrition. It’s a billion-dollar industry, so why not get a piece of that pie? Identify the nutrition products you believe in and package them into your programs.
Case in point: Just by adding Shakeology into my business, I was able to double my income each month. Nowadays, I help fitpreneurs like you do the same while maintaining their original brand. If you’d like to supercharge your income by cross-selling nutrition, give me a shout right now at Vito@vitolafata.com. (Put the subject line: Help me blow up nutrition in my business!)
The best part? There are tons of opportunities to cross-sell.
Retail products, equipment, and partnerships are just a few others.
And if you’re already playing in the online space (smart move!), you can get involved with affiliate programs to earn a cut from referrals. When I help businesses transition to the digital space, I recommend the same software, designers, and developers I use; and I get a piece of the profit.
Recommending good people who do good work is a fantastic revenue stream. It’s done in every industry, but it seems we fitness folks are missing the boat.
It’s time to take your money up and start cross-selling.
BONUS: Master the 3 Pillars of Money to Earn More
I’m going to share an often unspoken, yet sadly true reality about making money.
If you come across as needy and desperate, no one is going to buy from you. You will get the Carl Jr. nickel and dime crowd. You won’t get the Mercedes, BMW, I got money to invest crowd.
People with money scarcity issues can be smelled a mile away and money avoids people like that.
Money knows when you don’t know how to run a business.
Money knows when you have sales fear issues.
Money knows when you are afraid to market because of what others think.
You want more money study how to make it.
Start mastering the 3 pillars of making more money: Business, Marketing, and Sales.
I did this extensively during tough times in 2007, and more than a decade later it is still paying HUGE dividends. In fact, my investment in those 3 things saved my life and gave me the life I dreamed of. It’s a story for another time, but I suggest you get a coach, and if it’s not me, make it somebody, but there’s no excuse for not making the money you want.
Right now stop blaming your environment, get over your past, and get over your fears so you fan stop living paycheck to paycheck by knowing how to run a smarter business, market better, and crush your sales!
Mucho dinero for you!
Show Resources | Opportunities to Earn More Money
- Click here to finally map out your path to financial freedom with the Clear Vision Planner.
- Click here to learn more about my 2.5 Day Premium Experience, Vision in the Vineyard.
- Click here to start cross-selling nutrition products & double your income now.
- Claim your FREE GIFT here: The fitness business success assessment AND 30-minute master class on the 7 fundamentals of fitness business success.
Now, start earning the cash money you deserve!
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