Welcome to the Trainer Revenue Multiplier Show!
Each week Mathew Park and/or his co-host TRM Mentor Jaime Filer will be having a round table discussion with a TRM Leader on how to build an insanely profitable, systemized, impact-driven, six and seven-figure a year personal and online training business.
This week Mathew and Jaime are discussing recurring and upfront payment models. Both business models work great, it depends on the goals you are aiming for. I've seen TRM clients who love the upfront model and only want to work with a few high-level clients and I've seen TRM clients who love the recurring model because they want a more consistent growing monthly income and I've seen TRM clients who have a balance of both. To sum it up, these are numbers you'll want to know to help you identify how to best structure yours. * Monthly Break Even Number (Example: $10,000 / Month) * Monthly Profit Break Even Number (factor in break-even and the amount of profit you want each month) (Example: $12,500 / Month) $2,500 a month in profit * Your Freedom Monthly Income (the amount of monthly income that gives you peace of mind, flexibility, extra income to invest, travel, and live the lifestyle you want) (Example: $20,000 a month) These numbers will vary depending on your goals, if you're a solo coach, have a team, or own a studio/gym. In this episode, we dive deeper into the two different models, and which one might be best for you!