SELLEST OSAST
What actually makes a gym a good business?
It isn't necessarily the one with the most members or the biggest monthly turnover.
In this episode, I'm joined again by Gareth from Coach Accounts to talk about the numbers gym owners should actually be paying attention to.
We get into profit margins, how much you should be spending on ads, when hiring another member of staff makes financial sense, and why there are times when the best thing you can do for your gym is stop trying to grow it.
We also talk about the personal side of money as a business owner — including pensions, emergency funds, financial security and why so many business owners avoid looking at their numbers altogether.
We cover:
- Why £20k/month turnover tells you very little about the quality of a gym business
- What healthy profit margins can look like
- The growing problem Gareth sees with gym owners overspending on ads
- Why you should understand your ads even if somebody else manages them
- When to invest more money back into your gym
- Why one great month isn't enough evidence to increase your spending
- The "push, hold, push" approach to sustainable growth
- How much business owners should consider contributing towards a pension
- Why simply looking at your bank balance every day can improve your financial habits
- How AI can help you better understand where your money is actually going
If you run a gym and know your monthly revenue but couldn't confidently tell me your margins, this episode is worth a listen.
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