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Finance 101: Funding your Personal Training Business

This article is written by our guest author, Future Fit Training. 

Did you know that 90% of all people who qualify as Personal Trainers leave the industry within 12-18 months? The main reason for this is money. Either not enough coming in or too much going out, it’s important to understand how to fund your Personal Training business before you start accepting clients.


A budget can be compared to a training program for managing your finances. It involves establishing a financial target, setting a timeframe, assessing your present situation, and strategising ways to bridge the gap between your current position and your desired outcome.

Creating a budget is similar to taking on a new client and following a goal-setting process. It involves testing and evaluating their needs and then devising a tailored program. Without a budget, you would be left guessing and hoping that your expenses are covered, which is not a practical approach.

To start budgeting effectively, the first step is to meticulously review your bank statements and receipts, particularly those related to work expenses. Keeping receipts for work-related items is crucial. You can compile a comprehensive spreadsheet that accounts for every monthly expenditure by thoroughly examining these records.
Some costs will be fixed and recurring, such as rent for the personal training studio, payments for PT apps, internet and phone bills, and insurance premiums. Other expenses will be more sporadic and less frequent, like attending CPD courses or purchasing new equipment. Keep track of all of these outgoings no matter how big or small.

Making a Profit

Gross profit refers to the total revenue earned minus the costs associated with producing a product or delivering a service. In the case of a personal trainer, these costs would include rent and any other expenses directly related to their job.

On the other hand, net profit encompasses the total revenue after deducting all costs and expenses. This includes expenditures such as clothing, equipment purchases, travel expenses, training courses, subscriptions, and other items, in addition to the aforementioned costs. It is common for many personal trainers to mistakenly assume that the amount they earn is equivalent to their net profit. However, this is not the case.

Merely subtracting the expenses of rent and insurance does not provide an accurate representation of the actual profit. Only when meticulously accounting for every expense, no matter how small (such as shoelaces, magazines, or bus tickets), can you accurately assess the net profit.


Consistency is crucial, just like your training regimen. It’s important to maintain consistency in tracking your finances. Record every relevant penny that comes in and goes out, ensuring you have a comprehensive view of the totals for each month. Over time, this will enable you to identify patterns, such as a decline in business during July and August due to people going on holidays and parents facing childcare challenges during school breaks, and a surge in business in April/May as individuals strive to look their best for upcoming holidays.

By recognising natural peaks and troughs throughout the year, you can better plan your finances. Consistency establishes a beneficial habit and ensures that you can easily produce your financial records if requested.

Transparency is of utmost importance. While you may not be operating a multi-billion-pound enterprise like Amazon, which attracts extra scrutiny from HMRC, it is still not worth the risk. Be transparent, honest, consistent, and confident that you are adhering to all regulations and guidelines.

Consider outsourcing your financial management to professionals. For a reasonable cost, you can delegate these tasks to experts who handle them as their profession. There are companies that can handle your financial tracking and even submit your tax return at the end of the fiscal year. If Excel spreadsheets are not your forte, investing in the added value and reduced stress of having an expert handle these responsibilities is a wise decision.

In conclusion, personal trainers often leave the industry due to financial challenges. To succeed, it’s crucial to budget effectively, track expenses meticulously, and understand the difference between gross and net profit. Consistency and transparency are key, and outsourcing financial management can be beneficial. By adopting these practices, personal trainers can build a stable foundation for their business and focus on delivering quality training to their clients. With the right strategies in place, personal trainers can be successful in the long term. Having a good grasp of the basics of financial management can help them make more informed decisions that will benefit their business. It is also wise to always look for new opportunities to increase profits and reduce costs. Additionally, it is important to stay up to date with the latest industry trends and take advantage of any tax incentives offered by the government. Finally, personal trainers should seek professional advice and guidance from finance experts when necessary to ensure their financial success.

Find out Future Fit Training and our Personal Training courses.

This blog post was authored by Future Fit Training – a leading training provider, offering courses in nutrition, personal training and much more.

Header photo by Jonathan Borba

This entry was posted in: Fitness & Health, Sport Business


Human Kinetics is the world's leading information provider on physical activity and health. This blog is operated by the European division of Human Kinetics, based in Leeds in the United Kingdom. In this blog we aim to bring you our latest products, news on our existing products and articles and information on health, exercise, fitness, PE, nutrition and much, much more.

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