20 BUSINESS IDEAS FOR FITNESS TRAINER

Are you a fitness trainer and you are seeking ways to profit from your skills? Do you need a side business you can do alongside being a personal trainer? Then below are 20 small business opportunities for personal trainers.

Fitness has become very important in our society today. Everyone now understands the importance of staying fit and healthy. Being fit helps to reduce the risk of contacting obesity-related diseases like hypertension, diabetes, stroke and infertility. People with busy schedules who cannot spare the time to visit the gym usually hire people known as personal trainers who would work based on their time schedule and take them through a physical training session. Some people also hire physical trainers to help them achieve some desired results because a physical trainer would know the right exercises and equipment that would produce such results.

Personal training is a very interesting job. You get to meet new people every day and then the pleasure you get from seeing your clients achieve their desired results is just indescribable. Even though personal trainers are getting more jobs now compared to what the demand was like several years ago, some personal trainers still have challenges with getting enough clients.

As a personal trainer, there are several other businesses in the fitness industry that you can do to increase your earnings. You would not only earn more money, you would also increase awareness for your business and get more clients for your personal training business by doing any of the following-:

Top 20 Small Business ideas for Personal Trainers

1. Selling gym equipment-: Along with your physical training business, you could make money from selling gym equipment to your clients or to people in your area. You could sell dumbbells, stepper machines, treadmills, bicycles and several other gym equipment that are usually in hot demand.

2. Organize boot camps-: Boot camps are a very good place for people to shed some pounds and meet with people who have similar goals. You could start organizing fitness boot camps and make money from participation fees that interested people would pay you.

3. Diet planner-: Diet is a very important part of fitness. Without the right food, it’s difficult to achieve perfect results. You could develop a meal time-table and sell to people who are interested in knowing the right foods to eat to keep fit.

4. SellingWEIGHT LOSS SUPPLEMENTS-: There are several nutritional supplements in the market that helps to aid weight loss,BUILD MUSCLES or reduce food cravings. You could start selling similar products too.

5. Start a reality show on weight loss-: You could earn money from getting sponsorships for your own reality show which would be a form of encouraging and helping people who want to lose weight.

6. Become a Physical therapist-: You could also help people who sustained injuries or have been in an accident to recover from injuries that may have affected the proper functioning of their bodies.

7. Start a weight loss club-: A weight loss club is a good way for people who want to lose weight to meet, interact and be inspired by each other. You would earn money from the membership subscription fees.

8. Develop a weight loss tracking application-: Mobile applications are also good tools for people to track their weight loss results, record their food intake and exercises. You could develop a mobile application with a fitness theme and sell in appsMARKETS like Google play, mobogenie etc

9. Exercise DVD’s-: Exercise DVD’s are also hot products in the fitness industry. You could produce your own weight loss DVD and make money from selling and distributing it too.

10. Become a school P.E teacher-: You could also look for schools around you that need P.E teachers and offer your services as a part-time P.E teacher.

11. Starting a health club-: Just like a weight loss club, you could start a health club for people who want to stay healthy. They would be able to interact with each other, share information and tips on how to live healthy lives.

12. Writing fitness books-: If you are gifted with writing, you could make money from writing and selling fitness books. Even if you don’t know how to write, you could still employ a ghost writer who would write it for you and then transfer all rights to you.

13. Organize workshops and seminars-: You could also make money from organizing workshops and seminars for people who are interested in learning about health and fitness. At those seminars, you could sell educational materials like books and tapes.

14. Nutrition coaching-: The problem with many people who want to be fit is that they have little idea on the types of foods to eat, how to eat balanced diets and which classes of food to avoid. Many people end up jeopardizing their health as a result of one crash diet or the other. As a nutrition coach, your job would be to help people make better food choices so that they can be fit and healthy at the same time.

15. Corporate fitness -: Some organizations hold P.E sessions from time to time to help their staff keep fit. You could apply to such organizations for an opportunity to be their in-house fitness coach.

16. Fitness blogging: Another great idea is to start a blog for discussing fitness-related topics.

17. Athletic coach-: Athletes usually need help with training. You could look out for such athletes and work with them one-on-one.

18. Start your own gym-: This is every personal trainer’s dream; to own a gym where your clients can come in at anytime for workouts and they can also have access to a wide range of gym equipment.

19. Weight loss restaurant/fast food-: When your clients do not eat the right food, it jeopardizes your efforts as a personal trainer. Most busy people can hardly spare the time to cook their own meals and they are left with no other choice but to rely on fast food outlets and restaurants and most times, these meals are not the right choice for people who want to lose weight or maintain their already fit bodies. Starting a restaurant or fast-food outlet that serves people who are health conscious won’t be a bad idea.

20. Design exercise equipment-: Lastly, you could choose to design and produce your own exercise equipment. You could start from little equipment like dumbbells, skippers, sit-up bench and then gradually, you could start manufacturing the bigger equipment.

WHAT ARE THE REPERCUSSIONS IF ALL TAXES ARE PAID AND BOOKS ARE PROPERLY CLOSED BUT NO INCOME TAX RETURN FILED?   

Non-filing of Income Tax Return attracts interest, penalty, prosecution and scrutiny from the Income Tax Department. There are some myths associated with filing; a common fear is that the taxman comes knocking at the door if the tax returns is filed.

However, the benefits lost on non-filing of returns are more than the penal provisions imposed for non-filing. Following are the benefits of filing of the income tax returns:

1. For Accidental Claims in Third Party Insurance: This is one of the rare benefits of filing the ITR every year. It is immaterial if the income barely touches or crosses the taxable limit. You may file ITR for yourself or your spouse, thinking your CA is pushing you so that he can earn his budgeted revenue from his July-September season, but it can help you in the future in case of accidental death of any one member(s) during a road accident. At a court trial, insurance companies need the proof of income to arrive at the amount of accidental claim, and if any return is missing for the previous three years, this could lower the claim amount or even can become no claim because the court takes only ITR as evidence. No wealth record, fixed deposits, business etc is given that much importance as compared to ITR in the eyes of law. The formula for claim is by multiplying the yearly income in ITR with years of expected life of deceased.

2. For eligibility in all loan applications from Banks: Income tax returns of last three years are the basic need for all loan cases like housing, business or personal loan, and is a declaration of your income. Before granting the loan, banks want to know your financial capacity and your income details as shown by you in income tax returns.

3. For immigration profile obtaining visa outside India: The High Commissions of various countries or VFS centres across India have records of fabricated documents, including income tax returns of visa applicants. They want to know if you are financially sound before they issue you a visa and for this purpose they will rely on your ITR. Every assessee should file genuine returns, especially if one intends to go abroad in the future. Use it to show your genuine source of incomes, because immigration officers give due weightage to your annual income. Absence of returns of any single year can decrease your chances of foreign visa under visitor, investor or work permits category.

4. For obtaining government tenders, registration on panels: The value of business profiles of various corporate agencies, contractors, professional service providers or individuals is dependent on the yearly income tax returns. Sometime contractors have very good history of procuring heavy projects in their line, be it a service or works contract, but they lack the knowledge of the benefits of filing returns on time or the importance of filing on factual provisions. Contractors need these returns to not only be filed on time , but also in an accurate manner, audited (if required) ,and signed with necessary documents. This is important, as in tender approval meetings or for finalising professional panels, the selection body has ample options to mature the tender in favor of the fittest. Sometimes, this work is checked by the tender scrutiny committee and ITRs for five to seven years are considered to see whether the applicant has done work for that amount earlier. So if one wants to expand one’s business and obtain tenders from government or private bodies, one needs to file regular returns every year.

5.For appointment in Judicial & Class one Jobs: In judicial jobs or where a candidate is a chartered accountant or lawyer and needs to demonstrate annual professional income for the judicial/judge’s, senior auditors post income tax return is presented. No client data or record of similar work done previously shall matter to the selection body; it is only the last five to seven years’ income tax returns (in judicial interview, seven years’ ITR records are checked) that show the candidate’s credibility.

6. For obtaining LIC/GIC agency: Insurance corporations, before allotting an agency, check the financial health and habits of the agents. Previous three years’ returns are called for before allotting any agency.

7. For Startup Funding: Many a time, seed, angel or VC investors include income tax returns filed till date in their statistical analysis. From returns they not only want to know your profitability but also your scalability, various cost parameters, and validity of the data produced from the auditor’s report. 

Union budgets highlights 2015

Class 64

64
1. Hind wire revision
2. 156 notice of demand
143 ( 1 ) and 200A ( 1 ) is deemed notice of demand.
3. 158A avoidance of repetitive appeal
If question of law is pending before hc or sc

Assessee will give affidavit( guarantee) to dept if relevant case of assesse is  identical with his otherwise case
To apply the decision of otherwise case in relation to relevant case.

Counter guarantee will be given by AO on admitting the declaration of assesee..

He can reject the declaration of assesse if question of law is not identical.

Rejection order is final order.

If declaration is admitted then AO will pass order by dis allowing exp. And later on if you win the case then AO will change his order and will allow expense P.

4. Protective assessment to protect the interest of revenue

A. Litigation between two parties concerned in civil courts
B. Possibility of benami transaction but still not clear.

Assessment in the hands of both the assesee where real assesse is not confirmed.

But protective recovery is not possible and final recovery will be made from the hands of real owner.

It is just a paper assessment

New AO can track the case by this assessment as cases in courts take 10 - 15 years to get decided.

5. 139 B scheme for submission of return through TRP
govt will pay TRP

TRP WILL BE AN INDIVIDUAL EXCEPT ca, lawyer, employees of co etc

TRP can't file roi of
A. Companies
B. Person required to get their accounts audited.

6. 140 who shall verify the roi.

7. Taxability of deep discount bond.
Can be issued by any co whereas ZCB can be issued by only specified companies.

Circular 2/ 2002

Every year
In short income is opening market value minus closing market values
Under the head other source or pgbp as the case may be.

Sale  then income equals to

Sale price minus closing market value of last financial year

capital gains always short term

In case of redemption substitute sale price with redemption price and income will be under the head ifos or pgbp as the case may be.

TDS at the time of redemption on face value minus redemption value.
However assesse can take benefit of sec 197. .

There were some problems with DDB therefore ZCB.
Already done in respective modules.

8. Perquisite Includes esop, esps and sweat equity shares.
Value equals to fmv on the date of exercise minus price paid.
Q
For fmv rule 3 ( 8 ) equity shares under esop

Esop taxable at the time of allotment.
Rule 3 ( 9 ) for shares other than equity shares

9.  Relief under section 89.
Either benefit of 10 ( 10C) or 89 is available.

10. Module 6
Sec 116
CBDT then dgit/CCIT then dit/cit then ac dc then jc then deputy director or deputy comm then ito then tax recovery officer then inspectors

Few more posts are added to divide the work of higher authorities in income tax.

11. Sec 131 ( 1 ) power to summon.
Here dept is calling assesee.

As per this section income tax authority and DRP will have same power as that of civil court.

Courts powers are mentioned in code of civil procedure 1908.

While dealing with
A.  Inspection and discovery
B. Enforcing personal attendance and oath.
C.  Compelling for books and documents
D. Issuing commissions I. E. Appointing an expert to give report.

These powers can be exercised even if no proceedings are pending.

If not complied with summon then search and seizure and raids.

131 ( 2 ) calling information under section 90 and 90A.

Earlier power with FM to call info in relation to dtaa but now with some officers as well notified in official gazette can exercise power conferred u / s 131 ( 1 ) wrt dtaa etc.

They should  be not below the rank of AC.

131 ( 3 ) impounding of books and documents

Power with DRP and it authority
After recording reason of doing so
And for max 15 days without approval of CCIT OR CIT.

SUBHA AND PRABHA BUILDERS P LTD

extension can be in days only and not in months after recording of reasons of doing so.

12. Section 133 power to call info

General information about the assesee In respect of names and addresses. Eg of partner,  members of HUF, agents, dealer or brokers of assesee, from director of stock exchanges about buyers and sellers, from banking co about his customers. 

In case of banking co even notice can be issued for inquiry purpose.

In this section Personal presence is not required.

If case is not pending then this power cannot be exercised without the approval of cit.

If case is not pending but relates to dtaa then respective authority can exercise his power without any restrictions.

Class 63

63
1. Sec 14 filing of wealth tax return if and only if wealth exceeds 30 lacs
Due date same as income tax
However return filed for the purpose of section 17 is valid

14A and 14B

Now assessee can file electronic return as well.

Sec 15A signing/verification of return by digital signature

Interest for late payment is of 1 % pm or part of the month.

Section 17 equals to 148 of income tax act .

2. remaining provisions are similar to that of income tax act with the only difference of certain limits ...

Module 5
1. Sec 142A reference to valuation officer
For fmv of property.
Even if books of accounts are rejected or not.
For wealth tax purpose etc .
To overrule the judgement which states reference can be made only for capital gains

Submit report within 6 months from the end of the month in which reference is made.

This period will not be counted for the purpose of time limit of assessment I. E. Explanation to sec 153

2. Sec 154 rectification of mistake apparent from records of
A. Order
B. Intimation of sec 143 ( 1 ) and 200A (1)

However
Mistake apparent from records in order of itat to be rectified under section 254 ( 2 )

Appeal against this order is possible

Re rectification is possible.
Rectification can be made only on the  basis of judgement of sc only provided time limit is not expired.

Rectification can be made suo moto or on notice by assessee/deductor
Mistake pointed out by AO to CIT(A)

154 ( 7) within 4 years from the end of the financial year for which rectification is sought .

If order u / s 154 is not passed within time limit of 4 years  then it can be passed to the advantage of the assessee

Partial merger is also applicable in case of sec 154

Retrospective ammendment can be given effect u / s 154 subject to time limit of 4 years

154 ( 8) without prejudice to sec 154 (7 ) Order of section 154 to be passes within 6 months from the end of the month in which the application is received
For making the ammendment or refusing to allow the claim
For clarification see illustration on page no 278

Suo moto 4 years limit
Assessee applied then 6 months

Hind wire industries LTD SC

Order sought to be ammended will not necessarily mean the original order but also the rectified order...

For the purpose of exemption notification 25/2012-ST

For the purpose of exemption notification 25/2012-ST
Services by hotels etc we have to consider declared tariff value instead of actual rent charged I.e exemption available if declared tariff of a unit of accommodation is  below Rs 1000 per day.....

Declared tariff value will not be adjusted with any discount and will include charges for all amenities by whatever name called . ...

New addition to e/n 25/2012-ST

Point 2B: services provided by operators of the common bio medical waste treatment facility to a clinical establishment by way of treatment or disposal of bio medical waste or the processes incidental thereto.

Various forms under service tax