Apart from my regular full time job, I teach fitness classes through city facilities and am also about half way through my Personal Trainer Certification program. I do/have had a few clients in the past, but mostly friends of friends and I charge them about 1/3 of what the going rate for a PT is (as far as I know - I’ve never actually hired a PT myself!).
Part of my five year plan is to transition from the corporate world to fitness. However, I recently scored an interview (April 14) with a local up and coming company that caters to females and is bootcamp style. Depending upon the money I’m offered, I may consider transitioning into fitness a couple of years early.
If I do accept that job, I will be working as a contractor, so will essentially be self-employed. At the same time, I will need to supplement my income by offering PT services on the side. A few of the things I’ve started to look into are business licenses and related (municipal, provincial and federal), cost of health care coverage ($150/month for the top coverage, not as bad as I expected), savings for retirement (I will lose a pension so I need to contribute in some other way), and what will happen when I get pregnant (unemployment insurance). Also, we will need to talk to our bank as our mortgage is up for renewal in December and it’s harder to get one if I’m self-employed (as far as I know).
FYI, I’m in Canada, specifically, Alberta, though any advice is welcome. Please tell me about your transition into self-employment, and if anyone has any region specific or industry specific information, I would love to hear it!