Self-made Fitness millionaire Frank Fourie has figured out how to earn a lot of money: He built two, seven-figure businesses, frank fourie fitness, and iamfitceo, from scratch. And he did it by age 23.
"Learn how to solve a problem using your fitness expertise," the king of personal training tells IBT "At the end of the day it's quite simple scaling to seven figures. Take your fitness knowledge & sell it to 18 people at a $5,800 price point."
"When you break it down that simple, it's not as difficult anymore," he says. "But a lot of fitness pro's just set a huge goal and they never break it down and know the numbers and the statistics that they have to hit, so it just becomes overwhelming."
Once you've set your financial goal using math, you have to actually get to work and start obtaining clients.
That's how he started. Fourie has been a fitness addict since he was a kid, so he decided to create personalized fitness and eating plans for marketing clients. At the time, he was 19 and had just dropped out of college.
He didn't make money off of his fitness programs right away. In his first 6 months, he made just $8,000 and worked at anytime fitness to pay the bills.
It wasn't until he took an information product about how to build an online business that he started to see results. "That's when I learned that people will pay $3,000 plus— for a fitness coaching service," says Frank Fourie, who was 20 at the time. "I was selling my fitness programs for like 200 bucks. That's when I learned, Oh, my niche will pay me $3,000 for my fitness knowledge."
Fourie homed in on one-on-one coaching, which people will shell out four figures for, he realized. As soon as he increased his prices, he started seeing big money: He made $20,000 in one week. Eventually, he worked his way up to making $57,000 a month. By 23, his net worth hit $2 million.
He then used a new skill he'd developed — how to scale a fitness business online — to start teaching other fitness business owners how to grow their business by selling their knowledge. That evolved into his second company, iamfitceo, which he runs in addition to Frank Fourie Fitness.
"What most fitness pro's struggle with is, they don't focus on solving a problem for a specific market," he says. If you focus on selling "fitness" instead of "solutions" people ain't going to pay you more than $3,000. "If you sell one high priced fitness education product for $3,000, you only have to sell three a month and you're already at six figures a year.
"That's how I solved my own problem."