Most personal trainers struggle to make the type of personal trainer salary they really desire for one simple reason. The reason being is that heir business is 100% dependent on their showing up to train clients.
There are basically two ways to earn an income – active and passive. An active income is money that is earned by working. Any job where you earn an hourly wage or are paid per project (i.e., training a client). If you stop working or lose your job, you also lose your income.
Active income is basically trading your time for a wage. In this system your salary or income is dictated by the number of hours you work. Since there are only 24 hours in a day, you’re income is automatically capped by how many clients you can fit into a day, week, month, or year.
Passive income is money that continues to flow into your bank account long after a job or task is complete. With passive income, you complete a task once and continue to make money forever on an ongoing basis.
For example – New York Times bestselling author Robert Kiyosaki who wrote the Rich Dad Series of Books, only had to write his books once. He completed his task once and now continues to make a passive income stream without any further work or effort. His books will continue to sell and make money while he sleeps since people will continue to keep buying his books.
Here are some common examples of passive income streams:
– Royalty Income (Books, DVD’s, CD’s)
– Rental Income
– Interest Income
– Dividend Income (Stocks)
– Affiliate Marketing Income
– Network Marketing Income
– Business Income
Most personal trainers struggle to make the type of salary they truly desire because their income is 100% active. Some trainers can charge up to $100 or more per session if they are at the top of their field and in high demand, but they will never become wealthy.
Recognizing the difference between Active Income Streams and Passive Income Streams is what separates a good personal trainer from a wealthy one. After all, personal training is a business and you are in business to make money. So why not find a way to multiply yourself so that you can make money while you are working, sleeping, eating, or traveling the world.