Do you know how profitable your gym is? To be clear, the profitability of your gym isn’t the revenue you’re bringing in or even your net income, after expenses.
One of the biggest mistakes we see business owners make is over-simplifying the profit in their business. It doesn’t have to be a complicated process, but it does take a little bit of thought.
And to actually see real profit month over month and year over year? That takes a plan.
If you’re like most of our clients, you’re taking some time in Q4 to look at your financials and set goals for the coming year. Financial fitness doesn’t happen overnight and you can’t think your way into a healthy place. It takes action. And small business financial management is essential to your long-term survival.
So what needs to happen to create a financial plan for your small business? It’s about knowing what you need to do, when you need to do it, and having the accountability to make sure it happens.
Because, as a busy business owner, you know that making it happen is a big part of the battle.