Accounting can feel intimidating, especially if numbers aren’t your thing. But while running a business, numbers don’t lie. They tell you exactly how fit your business is.

In this episode, Rick Mayo welcomes Rachel Blair, Alloy HQ’s Manager of Finance, to discuss how understanding your finances is critical to running a successful fitness franchise. Rachel, with over 23 years of experience across industries and a background in aviation and music, brings a refreshing perspective to accounting.

Rick and Rachel break down the simplicity of financial management in Alloy franchises, touching on profit and loss statements, balance sheets, and how to avoid common mistakes like miscategorized expenses. Rachel shares tips on budgeting and forecasting to ensure your business stays profitable and scalable.

You’ll also get a behind-the-scenes look at how Alloy supports its franchisees with tools like ProfitKeeper, making finances less intimidating. 

Don’t let your finances run you—listen now to learn how to run them instead!

Key Takeaways

Introducing Rachel Blair and her unique background (00:00)

Profit and loss vs. balance sheets explained (04:20)

Importance of monthly financial tracking (07:56)

Why Alloy’s cash-based service model is simple (10:34)

Common mistakes: Misclassified expenses (13:35)

Budgeting and forecasting for business growth (16:47)

Advanced financial strategies for multi-location owners (19:30)

Rachel’s unconventional hobbies (20:57)

Keep your books clean (25:17)

Additional Resources:

- Alloy Personal Training

- Learn About The Alloy Franchise Opportunity

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