Living the luxurious lifestyle has become increasingly difficult for residents of sunny San Diego, California. Unemployment is high due to a super depressed housing market, which has lead to high levels of unemployment in the real estate, mortgage and home construction industries. Up until recently, gas prices have gone sky high, resulting in many locals cutting back on long, unnecessary commutes. It is common knowledge, that that the cost of living in San Diego is commensurate to that of New York City. Tack on lower wages than NYC, a recession to the to the already financially flustered San Diego economy, and you’ll find individuals cutting back on big ticket items, such as luxury cars, big screen plasma TV’s, vacations, and personal trainers?
My company Somagenesis Health and Fitness is a full service personal training company. Unlike most other personal training business’s, we also provide medical rehab and therapeutic services into the fitness prescription. This is our niche’. As president of the company, I have been concerned. It is easy to get sucked into the drama and nay sayers on CNBC and think the very worst.
In response to my fears, I have been carefully watching web stats on Somagenesis.com over the past 5 months. I have seen a significant increase in the number of unique visitors coming to our stellar web site. Are monthly averages typically runs, 4500 unique visitors. Until recently, we have seen an increase in new visitors rise to 6100 or a 35% increase. The end result is an average of 21 new clients, per month addition to our customer base. All this, even in a bad economy. Needless to say, were killing it in a big way.
What I have noticed, is that numerous personal training business here in San Diego have cut back dramatically on their on-line and off-line advertising. What Somagenesis Health and Fitness has done, is increase our advertising dollars by 50%. As Warren Buffet has advised to businessmen, “In depressed economy, always increase you advertising dollar investment to offset any negatives.” “Never reduce your advertising dollars.”
In speaking to comparable, well established San Diego personal training business’s, they are yet to see a slow down in the growth of their business’s. In fact, many have picked up new clients and are retaining current clients. I believe that a depressive economic time, forces change on an individuals attitude. They tend to focus within, and take great care of their mental and physical health. Taking care of oneself, is one thing that can be controlled. I also believe, since people have cut back on their vacation time, driving and big ticket items, they tend to stay at home and take better care of personal business, namely themselves and their health. This is a good thing for everyone involved.
Although many of my existing clients have experienced a 40-60% drop in their retirement and 401K accounts, they all have super strong devotion to the most important investment, that being their health and fitness lifestyle. This is a very good thing.
To fellow personal trainers out there. I would like to hear back from you. How is your personal training business going on in your neighborhood?
4 Comments
November 26, 2008 at 8:38 am
Industry is booming for me. Less new faces, but old faces are coming back and lining up at a ratio to 4 old faces to 1 new face. It used to be vive versa. I keep the supply of availability just below demand so if somebody leaves, I always have somebody waiting to take their place and most people don’t want to stop training because they know they are going to have to wait 6 months or better to get their time back if they resume at a later date.
November 26, 2008 at 12:17 pm
Hey Derrick,
Happy to hear that your biz is going strong! In this industry only the strong and talented survive. Keeping a waiting list is always a good idea. I do the same or farm out to my other trainers. BTW very nice web site.
Happy Holidays!
Rivak
November 26, 2008 at 4:37 pm
The industry is really going through a tough time, but at the same time the true fitness enthusiasts and people who have serious work that needs to be done stick with the best trainers. You cannot afford training, I say, “You cannot afford not to be healthy” I always am optimistic about things, but were taking a hit. Only the strongest will take the problem and solve it calmly. Others will go into a flight of fight mode and change careers.
November 26, 2008 at 8:10 pm
Hey Dominick!
Your so right, now is the time for personal trainers to rethink their fitness business plans, and think of diverse ways to create additional streams on income. I believe if you render a high quality service to your clients, you will always be viewed as a valuable asset in their lives.
I also believe that intelligent clients realize the amazing value in fitness in improving self esteem, and intrinsic body health systems such as cholesterol, blood pressure and blood sugars. After all who could possibly afford to get sick and unhealthy in this economy! Best to you and have a great Thanksgiving.
Rivak