The MumSafe Pro Podcast

Ep 10. How to love the financial side of your fitness business with Mel Browne

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In this episode Jen sit's down with Mel Browne and talks all things finances within your fitness business.  

Having spent two years running her mum-focused fitness business and turning over multiple 6-figures Jen got to the end of the financial year and discovered her personal taxable income was just 14k due to skyrocketing expenses and not being properly across her numbers. She did this not only once, but twice before she learned her lesson and started doing things differently. Jen is now incredibly passionate about helping other exercise professionals to avoid the same mistake and ensure they face their financial situation.  For this reason inviting Mel onto The MumSafe Movement Podcast was a no-brainer. 

Melissa Browne is an ex-accountant, ex-financial advisor and ex-working til she drops. Nowadays she’s a best-selling author, financial educator and serial entrepreneur who is passionate about helping women particularly also live a life by design not default.

Mel is the CEO of melissabrowne.com.au, an education business for women who want to financially grow up, Director of Business at the long-day Early Learning Community, Thinkersinq and up until she sold the business for seven figures
in 2019, she was CEO of the award-winning accounting and advisory firm A&TA (Accounting & Taxation Advantage).  

Mel is also the author of four books, the illustrated business book More Money for Shoes, the coffee table book of financial fairy tales, Fabulous but Broke, global best-seller Unf*ck Your Finances and her latest book Budgets Don’t Work (but this does) which dives further into understanding your Money Story, Money Environment and Money Type. She has been featured, written or spoken for everyone from morning TV shows to Triple J to Vogue to CEO Magazine and more. 

In this episode Jen and Mel cover:

  • Chat GPT and your finances
  • Mel's story - giving it all away and starting again with nothing after divorce
  • Facing the financials within your fitness business
  • What do put into place from the get-go
  • Accounting solutions
  • Understanding your niche
  • Understanding your market position
  • Understanding your financial goals within your fitness business
  • The value of multiple income streams
  • Key business metrics
  • Cash payments, super and GST
  • The split responsibility of paying childcare fees
  • When to get started on your fitness business
  • Self worth and your finances
  • When to register for GST
  • Investing and building wealth outside of your super
  • Saving and investing for kids
  • What percentage of profit should we be aiming for
  • How much should my business be growing each year?
  • Taking on staff and contractors
  • Mel's small business hacks
  • Growing your fitness business in alignment with your whole life values
  • Mel's biggest financial mistakes
  • Examples of small business owners that have taken control of their finances

    • Mel has very kindly put together some resources especially for our MumSafe Movement Podcast listeners - find them all here - https://www.melissabrowne.com.au/mumsafe

    Connect with Mel via instagram here - https://www.instagram.com/melbrowne.money

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    The MumSafe Pro PodcastBy Jen Dugard

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