Category

Business

Success In Spite of 2020

By Business, Tax Strategy No Comments

Today, I had the opportunity to sit and have a conversation with Billy Hofacker, a successful gym owner and business coach.    We discuss how he navigated the awfulness of 2020, from the start of COVID and business and gyms shutting down across the county to tentative reopenings.   He shares with us some things that he felt went right and is also transparent about…

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Retirement Planning for Gym Owners

By Business, Retirement No Comments

Ok guys, hard facts time… You cannot count on selling your gym as your only retirement plan. That’s just not how it works in this industry, unfortunately.    The truth, at best, with great systems and resources, I have seen gyms sell for just a little more than their annual revenue.   Typically, however, a gym would normally just be purchased for its assets.  …

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Problems with your Lease Agreement?

By Business No Comments

Over the past weekend, I had a potential new member reach out to me, looking to possibly join my gym.    In their message, they mentioned that their previous gym had closed its doors and that is why they were looking elsewhere.    Being the opportunist that I am, I got a bit more information and then ended up reaching out directly to that gym…

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