Download your workbook here → https://bit.ly/p-finance-in-february-workbook

For studio owners, this episode breaks down the only financial numbers that actually matter to run a profitable business.

If your Profit & Loss stresses you out or you avoid your numbers altogether, this episode will change how you think about money in your business.

→ Want to scale your studio and generate more leads? https://bit.ly/4kZSlya

→ Want proven systems to grow without burnout? https://bit.ly/44XoX5w

Most studio owners aren’t bad with money - they’re just looking at the wrong numbers.

If opening your Profit & Loss statement makes you feel confused, overwhelmed, or like you “should probably talk to your accountant one day”… this episode is for you.

This is Episode 1 of our 4-part Finance February series on the Geronimo Unfiltered podcast. Across this series, we’re breaking down financial literacy for studio owners in plain English - no spreadsheets, no shame and no accounting degree required.

In this episode, we lay the foundation. If you don’t understand this part, everything else feels harder than it needs to be.By the end of this episode, you’ll be able to:

• Stop saying “I’m bad with numbers” and start saying “I just didn’t know what to look at”

• Understand the difference between revenue, profit and cash (and why revenue is vanity)

• Read a Profit & Loss statement without panic

• Identify the only numbers that actually matter in a studio business

• Know what a financially healthy studio actually looks like

• Understand simple ratio benchmarks for labour, rent, overheads and profit

• Spot the two biggest profit killers for studio owners: overspending on

If you want this episode to actually change your business, don’t skip this part.

After listening ... here's your homework:

1) Ask your accountant for your last 12 months of Profit & Loss (or log into your accounting software and find it yourself)

2) Calculate your current ratios:

- Labour as a percentage of revenue

- Rent as a percentage of revenue

- Total overheads

- Operating profit

3) Compare your numbers to the benchmarks discussed in this episode

4) Bonus power move: ask your accountant to clean up your chart of accounts so your P&L is easy to understand at a glance.

This episode kicks off Finance February.

In Episode 2, we’ll map out budgeting and forecasting - without overwhelm.

Don’t forget to like, subscribe, and comment below with your biggest takeaway.

We read them all.

Connect with us:

My website: ⁠https://thegeronimoacademy.com ⁠

IG Geronimo: ⁠https://www.instagram.com/thegeronimoacademy⁠

IG Hey.Doza: ⁠https://www.instagram.com/hey.doza⁠

LinkedIn: ⁠https://au.linkedin.com/in/andrewhandosa⁠

Chapters:

00:00 – Welcome to Finance February

01:45 – Why studio owners avoid their numbers

04:55 – “I’m bad with numbers” (and why that’s not true)

07:10 – Revenue vs profit vs cash

11:30 – Breaking down a P&L in plain English

14:20 – What counts as direct labour

18:45 – Labour cost benchmarks (and common mistakes)

23:10 – Rent benchmarks and lease red flags

27:05 – Overheads: what matters and what doesn’t

31:45 – What healthy profit actually looks like

35:20 – The two biggest profit killers

38:50 – Homework & what’s coming next