
You’re not the first fitness professional to start their own training business in Toronto. Learn from others’ experiences! Here are key points to navigate as you take control of your career.
When you’re just starting out as an independent fitness professional for one-on-one training, odds are you want the simplest and least expensive setup to start making money. That means you are probably going to want a sole proprietorship. There is no separation between the sole proprietorship as a business and the person who owns that business — the business is its owner.
Thankfully, if you plan to do business under your own personal name, you don’t have to register at all. That means, on any written contracts or invoices, you’d identify your business by your personal name. However, if you want to go by GAINZTRAIN, you should register your business name with the Ontario Business Registry. There’s a $60 fee to do that.
Your clients want to know they’re covered for accidental injuries during training. That’s why most independent fitness trainers should have commercial general liability insurance and professional liability insurance to a combined limit of two million dollars. Despite that big number, you’re typically only paying about $300 or $400 per year if you have a recognized certification. It’s a small price to be protected if your client gets injured.
One of the great benefits to being your own boss is deciding what kind of clients you want to serve. Is your ideal client a corporate desk jockey wanting an adrenaline fix? How about the high school or undergraduate athlete? Do you specialize in hypertrophy programming for bodybuilders? Are you planning to be a weight loss and diet behaviour coach? The clientele you want to maintain and attract: they define your business plan.
Make sure you’re up to date on fitness trends for those audiences. Join the conversation on social media. Figure what the concerts of your target audience is. Your content should speak to them. Remember that the services you offer are not for everyone but for the clients you choose. Choose to have a voice worth listening to — not for everyone, but for your audience.
Fitness professionals should be the first to appreciate the value of a coach. Yes, we can all execute all the steps necessary to start a business, but we’ll do better if we have an objective eye on our form, our programming, and our goals. You should seek out settings with that network of knowledge and experience.
As your business becomes more profitable, some choices require more careful consideration. While we’ve covered the basics to get you started here, one day you’ll ask:
When do I have to start charging HST?
At what point does it make sense to take on employees? Or should I stay solo?
How should I set my billing rate?
Does it make sense to incorporate?
At PLTFRM, we’re building that network. We want the fitness businesses we host to grow, thrive, and lean on PLTFRM’s community for insight. PLTFRM will always make an effort to connect members to the guidance they need!
Reach out to us at marketing@pltfrm.fit
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