By Billy Hofacker
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The podcast currently has 292 episodes available.
#246: Scaling your business can be thrilling, but it’s not something to rush into. In this episode, I’m sharing 3 critical steps every fitness professional should take before scaling to ensure sustainable success:
Follow the Wealth Building Plan (WBS): This 8-step guide helps you decide where to put your next dollar for maximum impact.
Focus on One Success First: Most people don’t get rich twice—don’t jump into starting another business before fully optimizing your current one.
Get Your Accounts in Order: Having clean books and clear finances is the foundation for scaling.
Plus, as a nod to the season, I’ll talk about the importance of gratitude and reflecting on your journey before moving to the next level.
Key Takeaways:
A clear plan (like the WBS) prevents financial missteps.
Scaling isn’t about speed; it’s about strategy.
Gratitude keeps you grounded as you grow.
Listen Now
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Book a Q&A
www.yourfitnessmoneycoach.com
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#245: In this special bonus episode, I’m revealing all the details of my Black Friday offers—designed specifically for gym owners who want to take their finances to the next level. Here’s what we’re covering:
A discount on a powerful mastermind with exclusive bonuses.
A one-time Profit Booster Intensive session at a massive discount.
Fresh bookkeeping solutions to help you start 2025 strong.
Early access to the ‘Plan for Profit’ course with extra resources.
A Cyber Monday workshop to kickstart your financial plan for the year.
Don’t miss these game-changing opportunities!
👉 Click here to grab the full breakdown of each offer.
Listen now and get ready to take control of your financial future!
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
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#244:
In this episode, we explore how to navigate the financial implications of major life changes, such as having a baby or moving to a new city. Join me as I share practical tips on budgeting, financial planning, and effective communication with your partner to help you thrive during these transitions.
Key Points:
Budgeting for Change
Reevaluate your budget to accommodate new expenses.
Set priorities to distinguish between necessary and discretionary spending.
Strengthen your emergency fund to cover unexpected costs.
Financial Planning
Update your financial goals based on your new circumstances.
Review and adjust your insurance needs.
Maintain contributions to your retirement savings.
Communicating with Your Partner
Discuss financial expectations openly to reduce stress.
Align on spending and saving priorities together.
Plan for adjustments as life circumstances evolve.
Resources:
Fitness Profits Book
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
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#243: In this episode, we tackle the financial challenges that fitness business owners face during slow seasons. Join me as I share practical strategies for assessing your financial situation, generating revenue, and making smart spending decisions to help you navigate these quieter times successfully.
Key Points:
Assessing Your Current Financial Situation
Review cash flow statements to identify income and expense patterns.
Differentiate between fixed and variable costs to find potential savings.
Establish a financial buffer for peace of mind during slow months.
Strategizing Revenue Generation
Diversify income streams with online classes, merchandise, or workshops.
Create promotions and discounts to attract new and returning clients.
Implement membership retention strategies to maintain steady cash flow.
Smart Spending and Budgeting
Trim unnecessary expenses by reviewing subscriptions and contracts.
Prioritize investments that will yield future revenue growth.
Set a realistic budget that reflects the slower months while planning for growth.
Resources:
Fitness Profits Book
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
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#242: In this quick episode, I share three must-do tasks to set your fitness business up for a successful new year. By focusing on your finances, tax planning, and goal setting, you’ll make sure you’re ready for what’s next. Tune in for practical, actionable tips to wrap up the year with clarity and confidence.
Key Takeaways:
Review Financial Performance: Evaluate this year’s revenue, expenses, and cash flow. Identify trends to inform your strategy for next year.
Plan for Taxes: Save on taxes by making strategic last-minute deductions, contributions, or business investments.
Set Business Goals: Define 2-3 specific goals for growth in the new year based on this year’s performance and insights.
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#241: In this episode, Billy Hofacker interviews Daniel Meng, a former gym owner who sold his gym for $900K ($950K with interest). Daniel shares his inspiring journey—from his days as a college baseball player to becoming a personal trainer for celebrities like Kenny Chesney and eventually running and selling a successful fitness business.
Topics covered:
Transitioning from a private to a semi-private training facility
Key strategies for gym owners at different stages: those starting out and those ready to sell
The importance of systems, financials, and simplicity for a smooth exit
What adds value to gym evaluations and what detracts from it
How Daniel used a broker and tips for a seamless selling process
The impact of surrounding yourself with the right people
Whether you’re planning to sell your gym someday or just want to optimize your business, this episode is packed with insights that can help you run a smarter and more profitable gym.
Links and Resources:
Connect with Daniel Meng: [email protected]
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#241:In this episode, we explore the often-overlooked topic of how gym owners should compensate themselves. It's not just about taking home a paycheck—it's about creating a strategy that aligns with your personal life goals and sustains your business for the long term. Billy breaks down a practical 4-level system for owner’s compensation, starting small and building up to profit distributions. He also shares key mindset shifts gym owners need to make and how to find the right financial guidance tailored to your unique situation.
Key Takeaways:
Build Your Business Around Your Life: Start with the vision of what you want your personal life to look like and ensure your business supports that.
Adopt a Pay-Yourself-First Mentality: Break through the limiting beliefs that hold you back from paying yourself properly.
The 4-Level System:
Level 1: Start with something, no matter how small.
Level 2: Cover your bare-bones budget.
Level 3: Add a little extra for flexibility.
Level 4: Include profit distributions.
Seek Trusted Guidance: Find a mentor or coach who understands your needs, rather than offering one-size-fits-all advice.
Links & Resources:
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#240: In this episode, I sit down with fitness business coach Vince Gabriele, a seasoned expert in the industry with over 20 years of experience. We cover crucial aspects of owning a fitness business, from effective marketing strategies to the importance of being “obsessed” with your customers. Key Topics Discussed:
Tune in for a blend of practical advice and engaging stories that can help you take your fitness business to the next level!
Important links:
Download Vince’s book here Book a Q&A with Billy here
#239: In this episode, we dive into the crucial relationship between profit and cash flow for gym owners. As a financial coach and fractional CFO, I share insights on why understanding and managing both aspects is critical for long-term success. Whether you're struggling with cash flow or looking to enhance your profit margins, this episode is packed with valuable tips and strategies you can implement right away.
What You'll Learn:
The critical differences between profit and cash flow and why both matter
Tips for managing expenses effectively to improve cash flow
Ways to implement tiered membership models for increased revenue
Utilizing membership freezes or holds to maintain engagement and revenue
The benefits of encouraging clients to use high-automation payment methods
Resources Mentioned:
7 Profit Lever System
Connect with Billy:
Website: www. YourFitnessMoneyCoach.com
Subscribe & Review: If you enjoyed this episode, please subscribe and leave a review on [Apple Podcasts, Spotify, etc.]. Your feedback helps us reach more gym owners and fitness professionals!
#238: In this episode of Your Fitness Money Coach Podcast, I’m sharing how public speaking has completely transformed my fitness business—and how it can do the same for you. Whether you’re an entrepreneur looking to grow your business or just want to improve your communication skills, public speaking can open doors you didn’t even know existed.
In this episode, we discuss:
My personal journey from speaking rookie to confident presenter
The many ways public speaking builds authority and credibility in the fitness industry
How improving your communication skills can positively impact your client relationships
How public speaking can help you overcome fear, boost confidence, and even create new income streams
PLUS, I’m excited to announce that my friend, fitness entrepreneur and world-renowned speaker Todd Durkin, is hosting a FREE webinar to help you master the art of public speaking. If you’ve been wanting to improve your speaking skills or get started on the right foot, you won’t want to miss this!
Show Links:
Sign up for Todd Durkin’s free public speaking webinar
Listen to past episodes of Your Fitness Money Coach Podcast
Subscribe to Billy’s newsletter for more business and money tips
Be sure to check out and register for the 7 Lever Profit System starting October 14th! It’s first come first serve!
The podcast currently has 292 episodes available.
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