Running a fitness business is rewarding, but financial mistakes can drain your profits and leave you stressed. In this episode of Profit Made Simple, Dan Henderson, a successful entrepreneur and coach, dives deep into the ten biggest financial pitfalls that fitness business owners make. He shares his own experiences (including some costly mistakes!) and offers actionable advice to help you avoid these traps and achieve financial freedom. You’ll learn about the importance of regular price increases (even when it feels scary!), why you should never absorb direct debit fees, strategies for maximizing business expenses while staying compliant, how a cash flow forecast or profit first system can revolutionize your finances, and much more. Ready to stop financial pitfalls from holding you back? Tune in now!

Our favourite quotable moments:

"Are you increasing your prices every single year across the board?" - Dan Henderson

"The more tax you pay will mean, the more you are growing. That is the success fee." - Dan Henderson

“I had a shit accountant for way too long, and it has cost me more money than I can possibly imagine." - Dan Henderson

“You’ve got to pay yourself first." - Dan Henderson

Resources:

Instagram - Coach Dan Henderson 

YouTube - Profit Made Simple

Facebook - Coach Dan Henderson

About Dan:

Dan Henderson, founder of Fitness Profit, is a coach and business consultant who helps fitness owners achieve more freedom, impact, and income. With over a decade of experience in the industry, Dan is a well-respected leader, owning two successful businesses within the space: Momentum 360 gym and Australia's largest fitness conference, Filex. As a published author and entrepreneur, Dan shares his knowledge on the Profit Made Simple podcast, where he interviews industry experts and offers practical advice for growing your fitness business, building your brand, and achieving your goals. Join Dan each week and take your fitness business to new heights with Profit Made Simple.

This podcast is produced by Brave Moon Podcasts.