New |
Post Reply | Page 123> |
Author | |||
financiallyfitNES
Rookie Joined: Feb/26/2018 Status: Offline Points: 9 |
Post Options
Thanks(0)
Posted: Feb/26/2018 at 3:25pm |
||
Tree climber turned personal trainer turned financial advisor. I work for an insurance based agency (for now) and am just starting to really find my niche and my language.
My process for onboarding new personal training clients is exactly the same as onboarding financial planning clients. Focused 100% on a needs basis and illustrating the parallels between the two has helped show clients that I am in it to help other people and not my own wants and aspirations. I am now looking to build a business focused on serving other personal trainers and really focus as my major niche market. Any suggestions or advice warmly welcomed! |
|||
missionshooter
Senior Member Joined: Feb/12/2014 Status: Offline Points: 6136 |
Post Options
Thanks(0)
|
||
Welcome!
Before CLAB asks, How much can you deadlift? |
|||
Iamlegend
Platinum Member Joined: Mar/09/2010 Status: Offline Points: 22532 |
Post Options
Thanks(0)
|
||
I would pick a better target market since I assume most personal trainers aren’t affluent.
|
|||
Crimson
Senior Member King of the Wicker People Joined: Feb/03/2013 Status: Offline Points: 2057 |
Post Options
Thanks(0)
|
||
Welcome back Scooby
|
|||
Chief
Gold Member Joined: Mar/12/2010 Status: Offline Points: 16265 |
Post Options
Thanks(0)
|
||
|
|||
"You like winning don't you?" "Saves you from having to say the word please."
Good point Chief. Iceco1d 10/30/12 |
|||
Crimson
Senior Member King of the Wicker People Joined: Feb/03/2013 Status: Offline Points: 2057 |
Post Options
Thanks(0)
|
||
Welcome back, Chief of the Special Olympics. |
|||
Chief
Gold Member Joined: Mar/12/2010 Status: Offline Points: 16265 |
Post Options
Thanks(0)
|
||
Still not crazy |
|||
"You like winning don't you?" "Saves you from having to say the word please."
Good point Chief. Iceco1d 10/30/12 |
|||
workhardplayhard
Greenhorns Joined: May/20/2014 Status: Offline Points: 25 |
Post Options
Thanks(0)
|
||
You will starve if you spend your time chasing personal trainers. Most make less than $100k. Most think they will live to be 100 without health problems. Most are bad business owners and are even worse with their finances. Talk to the people paying for personal training. They have the assets and needs. |
|||
Crimson
Senior Member King of the Wicker People Joined: Feb/03/2013 Status: Offline Points: 2057 |
Post Options
Thanks(0)
|
||
I agree. You're cornering the market on a segment that's probably worth a grand total of $70,000 a year in production across the entire industry. Go get a big piece of that pie.
|
|||
financiallyfitNES
Rookie Joined: Feb/26/2018 Status: Offline Points: 9 |
Post Options
Thanks(0)
|
||
my thought it starting with business owners. I assure you the gyms that are doing well, are doing very well. Their trainers (and I am talking the key employees, not the kids there as a summer gig) can make good money both from the gym and on the side. And then every single trainer I work with becomes a COI or at least advocate to the dozens of people they see everyday. Then I position myself as the advisor of the clients of the gym, hold workshops and seminars etc.
Edited by financiallyfitNES - Feb/27/2018 at 7:05am |
|||
PEACH_cm
Senior Member Joined: Jan/16/2013 Status: Offline Points: 7184 |
Post Options
Thanks(0)
|
||
You might want to rethink that strategy as it will result in a massive failure.
|
|||
financiallyfitNES
Rookie Joined: Feb/26/2018 Status: Offline Points: 9 |
Post Options
Thanks(0)
|
||
agree to disagree. An entire industry over looked and viewed as "unaffluent". Most have young families and make a decent living. Insurance needs are there. And sure, the PT may not be making the big bucks, but what does their spouse do? The PT is just the way in the door to so many situations. I've found lots of unmanaged and under insured families so far this way. And I am by no means saying this is my only market.. I'm working businesses and the same professions everyone else is.. but targeting the PTs has less competition and higher success rate.
|
|||
Guests
Guest Group |
Post Options
Thanks(0)
|
||
I guess everyone can buy insurance. If that’s what you want to do, have at it. Most of us here prefer to manage money for a fee year after year as opposed to finding another person to sell a policy to. Two ways to “skin a cat” so when you get tired of chasing people with term policies at a gym and you’re open to advice, come back |
|||
financiallyfitNES
Rookie Joined: Feb/26/2018 Status: Offline Points: 9 |
Post Options
Thanks(0)
|
||
ha I don't do much term.. much more WL and DI. Here is my example for this week: PT, she makes 60k a year, had no idea what her benefits were or what they meant and took a meeting. So I meet with her and her husband. Her husband is at 150k a year as an engineer at 34 years old and moving through the ranks quickly. New home, 2 kids, and good disposable income with no idea what to do... Again- all I'm saying is it is a door opener leading to some good success. And I've only been doing this 7 months, so I am still figuring it out.
|
|||
B24
Moderator Joined: Mar/09/2010 Status: Online Points: 25750 |
Post Options
Thanks(0)
|
||
That sounds great in theory, but it just doesn't work that way. Trainers aren't giving out referrals to their clients for financial advisors. Their clients are typically wealthier and much more connected than they are, and aren't taking financial advice from them. I'm not saying that trainers can't be a decent client. But (1) there are far too few of them for the law of large numbers to work in your favor (it's not like having 1,000 teachers as a captive audience or 5,000 employees in the same workplace of a large local employer), (2) among that demographic, most are on the younger side (under 45) and have not had a chance to accumulate wealth, (3) the majority do not make good money (though some do), and (4) they work in a rather isolated business (ie. they don't work daily in a workplace with hundreds of peers - and back to my comment above - clients are in for 30-60 minutes and out and on to the next client, and aren't taking investment advice from them). This isn't bad as a casual, lifestyle-type prospecting method. But unless you are in L.A. or Miami or somewhere that has a lot of high-end trainers, I would not waste a lot of time or brain-power on this as a primary prospecting method.
|
|||
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16
"Jags/Vikes Super Bowl. Write it down" - Sportsfreak 01/19/18 |
|||
financiallyfitNES
Rookie Joined: Feb/26/2018 Status: Offline Points: 9 |
Post Options
Thanks(0)
|
||
appreciate the input. I'm not saying PTs are giving advice or that their clients are seeking it specifically. What I am saying is in their session with a client there is a lot of downtime for idle chit chat. As a PT I know, I am a referral source for TONS of other industries and professionals. I am connected with all the wives of the big business owners in town, the lawyers and CPAs. I've led lots of business to many of them from the connections I make in the gym. People bring up pain points with their trainers all the time. "I should really get a CPA this year because I know I'm probably missing deductions on taxes" "well mrs client, let me introduce you to CPA john that I work with." Last year alone I connected 5 couples to a local real estate agent I grab beers with from time to time. He sold 3 of them homes and listed for the other 2. Get a bunch trainers at various gyms on your team and you can have a decent little steady flow of prospects from them. I also made the introduction between roofer and contractor, they now work together and roofer does 1M a year just from that 1 contractor. go to the gym, pull your headphones out, and talk it up. I bet youll be surprised with what you find
|
|||
luvindy
Moderator Joined: May/17/2010 Status: Offline Points: 25767 |
Post Options
Thanks(0)
|
||
Just for fun could you share what you are recommending to this couple? |
|||
8/31/12,Sportsfreak:
"If Barak wins this election, or appears to be clearly winning, we are all fucked. Market will tank big time." Dow 13,090 S&P 1406 5/23/13 UC:Dow 20k before 20% crrectn Dow 15, |
|||
Guests
Guest Group |
Post Options
Thanks(0)
|
||
Well I hope he’s as persistent as he is hardheaded. LOL
|
|||
B24
Moderator Joined: Mar/09/2010 Status: Online Points: 25750 |
Post Options
Thanks(0)
|
||
So why are you asking us for our opinions if you have already convinced yourself that this is what you need to do, and then arguing our opinions? If you were just looking for affirmations, you should just say that at the beginning of the thread... "Hey Guys! I am only looking for positive affirmation of the following prospecting method, so anyone that does not agree, need not comment! TIA! [insert Gen-Y emoticon]"
|
|||
"If Bellicheat pulls that rabbit out of his a$$ with this kid at quarterback, I'll personally kiss his ring." - Sporsfreak, 09/20/16
"Jags/Vikes Super Bowl. Write it down" - Sportsfreak 01/19/18 |
|||
Guests
Guest Group |
Post Options
Thanks(0)
|
||
Now would also be a good time to point out that realtors, contractors, and roofers will also make for shitty clients
|
|||
Post Reply | Page 123> |
Tweet |
Forum Jump | Forum Permissions You cannot post new topics in this forum You cannot reply to topics in this forum You cannot delete your posts in this forum You cannot edit your posts in this forum You cannot create polls in this forum You cannot vote in polls in this forum |