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Forecasting Financials for Fitness Studios

By June 2, 2021June 21st, 2021Bookkeeping, Cash Management, Profit First

Your Microgyms’s Future

Putting Profit First means keeping one eye on the horizon. Failure to plan is, after all, planning to fail. Your business is going to grow. Tracking your current financials and using them to make meaningful predictions about that growth gives you an edge in staying profitable.

Growth is Success

Your goal as a microgym owner is GROWTH. That’s true for any business, really. Being stagnant might save you some money or labor today, but it will come back to bite you later. That’s just the reality of business ownership. Forecasting your expected growth gives you a hand on the steering wheel.

Checking The Forecast

Especially as you start looking into hiring coaches and instructors, checking the forecast is essential to make sure you can pay yourself. What costs are going to grow as you do? What costs are going to remain the same? Knowing the answer to these questions gives you the power to guide your business in the way it needs to hit your profit goals for each month and keep those profit goals rising.

Lots Of Moving Pieces

As a business owner, you have a lot to keep track of. You have subscription fees, payroll services, monthly gross and net income, etc., etc. In this video, we go over, line-by-line, how to set up a spreadsheet to forecast growth. Don’t worry! We break it down for you to teach you exactly what you need to do to forecast your microgym’s growth.

Choosing to Profit

Getting the most out of your microgym is A CHOICE. And the best choices are made with the best information. This video will show you how to compile the information you have to predict the information you’ll need in the future. Get out your google sheets or Excel, watch this video, and learn how to put profit first, now and in the future.

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