Transforming Your Training Revenue ft. Mathew Park
Personal training is a competitive career where it might be difficult to earn more than the average wage for your area. Trainers often get stuck in a relatively comfortable routine and forget they can do much more with their potential.
Mathew Park’s business is all about coaching trainers how to escape this rut. His mission is to help personal trainers believe in their abilities and increase their income.
In the seventh episode of Real McCoy Radio, host Greg McCoy and Mathew talk about the common struggles that personal trainers face on their path to a healthy career.
Mathew’s career journey hasn’t been easy. He moved from a small town in Alberta, Canada to California to pursue a career in personal training, when he was only 18 years old.
Like many other professionals, in the beginning, he was struggling with paying his bills and getting enough clients. Soon, he realized that with a methodical and strategic approach, he could earn a lot more, and went from $500 a month to $20,000 a month within a few years. After systemizing his approach, Mathew created his coaching plan called Trainer Revenue Multiplier.
Matthew has been grinding and working really hard to be able to appreciate his worth. Many coaches struggle with charging what they deserve, underestimate the value they can provide and doubt themselves.
During his interview with Greg, he answered a few very interesting questions. If you feel like you could take your coaching business to another level and earn more, while doing what you love, here are Mathew’s answers that can bring some insight to your ideas.
G.M: How do you take a trainer nowadays from $2,000 a month to $20,000 a month? Where do you even start to turn around someone’s business to that proportion?
M.P: First, they have to want to make the change and be coachable. Because I can say here’s a formula, but if you don’t want to make the changes, it’s not gonna work.
Number one tip would be getting things systemized in your business. Usually, most trainers are working to save their schedule. Very disorganized. Nothing is systemized and client files are everywhere or on their computers.
Second, keep a track of how much you’re earning with each client, at each session. Then, work on charging your worth.
The third piece is increasing revenue. Trainers get mixed up if they focus on increasing revenue first. They work all this energy into this and get so disorganized that they just fall off the wagon.
G.M: And that’s when it comes to increasing pricing. Why is that so difficult? And how do you help them break that barrier?
M.P: I think it is difficult because the industry has been taught to always go by session based fees. Instead, coaches could focus on charging per a package, or per a period of time, such as three months, six months, etc. This way they can earn two or three times more income in that process and deliver epical epic value, while working a lot less hours.
G.M: When it comes to marketing for personal trainers, I feel like many trainers fall into the trap of marketing to everyone, which often turns into marketing to nobody. How do you help trainers go for a niche?
M.P: Most trainers think that if they pick a niche, they’re going to miss out on clientele. The funny thing is, you get paid more for a niche. It’s like being a doctor. Are you a family doctor or a cardiologist?
G.M: In the previous podcasts that I recorded with Natalia Melo, we were talking about business coaches and she was somehow critical about their efficiency. So, as a business coach in the fitness industry, what is your take on that? What’s the coaching scene like right now?
M.P: Unfortunately, many business coaches in the industry haven’t actually been in the shoes of being an online coach, or a personal trainer, or owned partially of a gym. That’s a big problem, because they don’t know the system. So, before choosing a coach, you should do good research.
Listen to these and many other answers to interesting questions in the full episode of Real McCoy Radio.
For more about Matthew Park, check out the following links:
If you want to find out more about the host Greg McCoy, check out his website, social media, YouTube channel, or come for a visit at Hidden Gym.
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