What is passive income?

Sadly there’s no time bending, physics breaking machine which allow you to work for more hours than there are in a day to earn that bit extra. This is why as a Personal Trainer, you need to become clever and discover a way to earn a passive income.

Being a Personal Trainer, can be a tough gig as the product you’re selling is essentially your time. This meaning by selling one ‘product’ you are essentially losing an hour of your time. Now the ways around this are very limited, you either charge more per session or work longer days. Both have their flaws.

This is where passive income comes into play, so what is it?

Passive income is a direct income which doesn’t require direct involvement from yourself. Examples could include:

– Rent from a second home

– Royalties from books, music and art etc.

– Dividends from a business you have shares in

Passive income is great, as it doesn’t require our direct involvement, meaning we can concentrate our energy elsewhere and still be earning money from it. So how does a Personal Trainer create a passive income?

Selling programmes and e-books etc. This can be done through your own webpage, as it is all done digitally and the client can download it, once a payment has been made. You only need to contact them if they are struggling to require any assistance.

Online store. Here you could be selling equipment, clothing and supplements! If you are getting enough traffic through your webpage this could be great as clients may buy a product which will enhance their training because they see you using it!

– Sub-letting your studio. Obviously this can only be done if you own your own facility, however by charging other trainers a rental fee to work out of your gym you shall constantly be earning a payment month on month.

– Membership site. On your webpage, create a members only section where you post a lot of content to help others out! To begin you will have to ensure you create enough content to make it worth while so it’s not 100% passive however, while you’re beginning as a Personal Trainer your books won’t be ver flowing, so spend your spare time creating this content because it may come in handy later on in life!

Passive income essentially allows you to be earning money while you’re sleeping, on holiday and even if you’re off ill!

 

 

 

<-- Return to Blog