• Personal training is a multibillion-dollar industry, and it's growing.
• Trainers at the top of the earning game can make $100,000 a year or more with the right approach.
• Three experts in the space recommended leaving big box gyms behind, building up your business and "soft" skills, and cultivating an online presence to make it big.
• Being a cheerleader for your clients also keeps them coming back.
• Click here for more BI Prime stories.

Personal training, already a $9 billion industry, has grown nearly 2% each year since 2014, industry research firm IBISWorld reported in 2018. And there's no immediate slowdown in sight.

The industry employs nearly 585,000 professionals, IBISWorld found. While the median annual pay for personal trainers hovers around $40,000, according to 2018 data by the US Bureau of Labor Statistics, those with entrepreneurial inclinations (and a few targeted strategies) can bring in an annual salary topping $100,000.

Business Insider spoke to three successful entrepreneurs in the personal training industry about going solo and making it big.

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Leave big gyms behind and find your target audience

Where and how a trainer works can determine their potential to reach the upper-earning echelon.

Big box gyms and chain fitness locations can be good for some trainers, especially those just starting out. But the paycheck can be low, the hours grueling, and the schedule outside the trainer's control, said David Hung, cofounder and CEO of Fyt, a New York City-based company that matches clients with personal trainers nationwide.

Hung said those restrictions lead to burnout, and breaking free can make a significant difference in a trainer's earnings and well-being.

"While it may feel daunting, becoming an independent trainer is the best way to establish a successful career," Hung said. "The pay is much higher and it offers much more flexibility."

Now, personal trainers can operate in corporate settings, private homes, outdoors, online, or on retreats to fun and interesting travel destinations.

"In our 11 years of business, we've found that having a private personal training studio increased our earning potential," said Kariim E. Smith of his Atlanta-based enterprise, Body by Kariim Fitness. "We've come up with a system that allows us to personalize each client's experience. We do accept off-site clients within a certain radius of the studio."

A defined target audience and "knowing your clients" can help you know where and what type of personal training to offer, Smith added.

A former real estate agent and personal trainer for the LA Fitness chain, Smith struck out on his own when he opened his studio 11 years ago. He and his partner (now wife) Laquisha Smith literally lived at the studio, sleeping on the floor as they worked to get the business off the ground. Today, they have almost 14,000 followers on Instagram and offer nutrition counseling along with fitness training.

In his last year at LA Fitness ending in 2008, Smith earned $20,000 to $25,000. His annual earnings climbed to $40,000 in his studio's first year of operations. "By 2011, we had quadrupled our $40,000 income," Smith said. "In 2018, we earned over six times that amount."

Two specific tactics helped Smith drive income: building a base of lucrative corporate contracts and snagging celebrity clients.

Hung came to the personal training industry from a legal background. Formerly obese, he lost nearly 50 pounds during law school, but later suffered severe injuries in a car accident. Working with a personal trainer was key to his recovery.

Inspired by that experience, Hung started Fyt, which now works with 6,000 personal trainers nationwide. Many Fyt trainers offer personal training as a "side hustle" and can make about $20,000 a year, but top Fyt trainers can earn up to six figures, Hung said.

In-home training is an "untapped opportunity" among fitness trends, Hung said.

"While the massive popularity of at-home fitness options like Peloton and Mirror have proven that consumers love convenience," Hung said, "at-home fitness is uniquely suited for personal training clients who tend to be beginners or older clients and find health clubs and studios intimidating and uncomfortable."

Establish a strong online presence

A sparkling online presence can trumpet not just personal training services, but also offer a deeper dive into the trainer's approach to overall fitness and wellness - further attracting loyal customers. Hung said to include professional and friendly photos, a thoughtful bio, and client reviews on each platform you're on.

Thanks largely to social media, it's not necessary to make a big financial investment to boost earnings, said Jeff Katz, a personal trainer and owner of San Diego-based GymPact Coaching. Katz has been in the personal training industry for 10 years and his earnings are in the six figures, he said.

With his coaching system, Katz said he's helped 10 other trainers attain six-figure earnings. "We plan to help over 100 trainers reach six figures this year alone," he said. He added that the best way to draw in customers without spending too much money is being consistent, entertaining, and educational on social media.

And for personal trainers who have the financial resources to invest in drumming up business, paid Facebook ads can offer a reliable platform, he shared.

In Smith's case, a client testimonial on Instagram serves as a powerful marketing tool that lets the client provide an inspiring description of their fitness journey, and before-and-after pictures documenting their success thanks to Smith's guidance and encouragement.

On Instagram (and other platforms), social media marketing can be a do-it-yourself, no-cost undertaking that allows the trainer to step back and let the client do the showcasing.

Cultivate client rapport

Inspired and powerful branding, along with word-of-mouth marketing, are other avenues for growing a lucrative client base.

"We have always depended on creating a reputation that would speak volumes for itself," said Smith. "That leads to referrals and email inquiries."

According to Hung, the successful match of personal trainers with clients is something like online dating. "Potential clients are looking for a trainer with whom they'd feel comfortable entering into a long-term relationship," he said.

Clients who feel positive about showing up and working out will keep coming back. A personal trainer who's an inspiring "cheerleader" retains more clients, which directly impacts earnings.

"Being supportive and motivating, tailoring programs to each client's specific goals, being professional and responsive, and most important, being invested in each client's success are the best way to keep clients," said Hung.

According to Katz, "there are several ways to make clients feel good. The first and most important, in my eyes, is recognition. Just giving compliments or congratulations on the progress they've made" can be a big boost.

"For example, a client who hated working out when they started but now has come to enjoy it - that should be celebrated," Katz continued. "Not everything is about results."

Boost your business skills as much as your soft skills

"Most trainers are great at being trainers and not so great at running a business," Katz said. "But the skill of running a business is how you start making more money."

To beef up his own business acumen, Katz sought outside help from a business coach who helped him put his ego aside and prioritize his business goals.

Even more valuable, Katz said, was learning about sales and strategies to get customers to remain loyal.

"I'd say the tactic that was most responsible for increasing steady income while reducing stress was getting clients to pay monthly rather than selling packages by seasons," Katz said.

By making the client payment system automatic, a recurring credit card payment system "makes the relationship easier because you aren't asking to get paid or trying to remind clients to bring money in, which is awkward," Katz said.

Hung agreed that personal trainers who get help for skills that aren't a strong suit can open up time and energy to focus on what they do best.

"Most personal trainers choose this career because they love helping people live their healthiest lives, not because they love sales and marketing," Hung said.

Credentials can also be a great selling point for independent trainers, but they're not always the most important thing. "I've known trainers who have the most recognized certifications and are bad trainers, unfortunately," Katz said. "On the contrary, I've known trainers who are phenomenal who aren't even certified. Experience is much more important in a trainer than a certification is."

The "soft skill" ability to connect with clients and inspire them ultimately can dictate a personal trainer's bottom line.

"Remember, this is a people business," said Smith. "If you don't like people, choose another career path."