 Hey coach, welcome back to the channel. If you haven't yet, make sure you subscribe stay up to date with all the latest content So today I want to talk about why the cash model Just simply doesn't work anymore if you have a sports training business So when I talk about the cash model, I mean if you're getting paid in cash by your clients So the typical sports trainer Who is running a one-on-one training or is running group training? The typical trainer what they're doing currently is that they're charging parents or they're allowing parents to pay at the session now this type of business model I Feel is very outdated and today it doesn't work long term Okay, now I've worked with several sports trainers with businesses I've also worked for companies that have used a cash type model and The truth is that a lot of cash is lost In the process when you allow parents or customers to pay cash in hand Okay, so I'm gonna give you a really simple example. So in my last employment Right. We had a policy that we Allowed parents to register for a free Tryout session. Okay, we used to call it a taster session So for those that haven't watched any of my previous content as most of you know I'm mainly based in the soccer world So a lot of the content that I've created before Has been more specific to soccer and football So we had this model at this company, right now This is this was a this was a very big company And and the model was right that parents could register online for a free Taster session They could come along right so they've registered online. They filled out the form. They're on the system We've got their information Now they show up at the session and they had to pay ten pounds or ten dollars at the gate so What used to happen was that a lot of parents would come they would Register their child in for the taster session and arrive at the session The coaches would sign them in because they're there now they've come for a free taster session the child would do the session and Then when it came to The end of the session when supposedly the customer has to come up and pay a lot of parents Wouldn't even show up. So they're kids were literally sort of walking off Right walking off to mum who maybe was further down and You know because the sessions were very busy the coach wasn't able to Chase up every parent and also it's not the parents. It's not the coach's job to check be chasing parents So what used to happen is we used to get five or six new Trilists That arrived at the session. They did the session. They enjoyed it and instead of paying at the at the session Right a lot of them were just walking off the field and parents never paid so those parents were getting a free session for their child we have professional coaching and And at a very good facility They were getting it for free because they wanted to come and try it and they weren't paying for the session so With the amount of money we used to lose as a result of this Model was very high So the company as far as I'm aware continue to use this model I am very much against it because the amount of money that is lost. I Understand why the company do it? Okay, because it allows people to come try it out And then if they want to sign up they can But at the end of the day the amount of money that is lost with players coming going not signing up not paying The company does lose a lot of money so for me and and that was an experience I went through in in the past with a With a company I used to work for but I see this with coaches as well Right, they allow the the client or the customer flexibility To pay cash in hand now when I work with coaches today everything I Work with them in or I teach them everything's set on Doing things up front so upfront payment for two three six nine or even a year upfront so that You know you as the business owner you as the coach You're not chasing parents for money Right now However, you want to do it is completely up to you if you want to do four weeks up front You want to do eight weeks up front if you want to do 12 weeks up front? Then I think that's a very secure type of model rather than allowing parents to pay session by session where the reality is They might come to the first session pay for it Fantastic great then the second session depending on what part of the world you live in it might be cold It might be rainy and parents don't want to take their child. So what happens is if the parent doesn't show up You essentially don't get paid for that day, right? So I Today I prefer the upfront type of model now if you want to do month by month you can set up a subscription Where the entire month of that subscription is paid at the beginning of the month Okay, so if you're training clients once a week you can set up a subscription or a type of Payment system where you're gathering and collecting all that money The first three days of the month and I personally like that a lot better Because once parents have paid for the month upfront the chances are they will show up Okay, I know parents who have paid for 369 months upfront and it gets to Maybe the fourth month or the fifth month and then they just they can't commit anymore They try and ask for a refund, but if you go through the terms and conditions of your program Okay, and I know it from experience because when I did this I had one parent who They paid upfront for six months with me. I gave them a discount Because they paid upfront But the first three months was great. They were showing up on time They were showing up every week and then just life got the better of them and then the fourth fifth and sixth month They couldn't show up or they weren't showing up consistently and that led the parent to then look for a refund But because they had signed my terms and conditions because they agreed to the terms and conditions I Didn't offer the Marie fund Because of that reason right because if you're going to commit for that long You've got to make sure you're committed for that long It's the same as you as a coach when you're working for a put with a player for that long You have to make sure that that is going to work for you week on week You can't show up one week and then the next week you can't be bothered You got to make sure you're there every week and you fulfill the contract that not only they're signing But you've agreed to as well. Okay, so if you need more help with this This is something that I work with coaches on I help them to make this transition from this cash model Into a more secure payment type of system where you're Eva receiving the money up front for The three six or twelve months or you're setting up some type of subscription online Subscription where the money is being taken from your clients account each month without you having to do anything Okay, so connect with me if you haven't yet make sure you subscribe to the channel if you want to reach me visit the Link or the description below this video. There's a number of ways you can contact me Get in touch with me. Send me a message connect by WhatsApp, etc. Okay. Thank you for watching and I'll see you on the next one