Business Planning/Strategies Articles

Accounting is an important part of any business. It provides the financial snapshot we need in order to make informed decisions regarding the current and future health and performance of our business. If you expect your own fitness business to grow and flourish, you will need to possess more than just a passing knowledge of accounting basics. <...

The April issue of this column examined the myriad issues that you should consider before deciding on a legal structure for your new or existing business. If you have chosen to incorporate your company, there are several ways to go about it. Each of these options comes with its own price tag and its own advantages and disadvantages. Hire an Attorney <...

At some point many personal training entrepreneurs decide they need assistance running their business. Are you trying to balance everything—training sessions, employee issues, business and financial matters, building and supplies, etc.? If so, it may be time to make a change. If you are at a juncture in your business life where you are feeling overwhelmed, stagnant, disorganized, fr...

Part of being an exceptional leader and personal trainer is having the ability to organize and manage events throughout the year. Unfortunately, very few personal trainers have actually been taught how to manage projects, and most neglect the fine details. They wind up dealing with chaos, handling crises, feeling stressed and ending up with an event that is not as high quality as it could...

One of the most important decisions you will make as a business owner is how to legally structure your company. Your own assessment of the risks and costs involved, together with guidance from your professional advisers, should determine your corporate structure. Many personal trainers open their studios as sole proprietorships and then find that as their businesses grow, that st...

Whoever isn’t focused on capturing Baby Boomers over the next two decades isn’t focused well on the future. In the coming 20 years, boomers will inherit estates worth over 10 trillion dollars—that’s more than the value of the entire New York Stock Exchange today. And every year, 4 million Boomers turn 50 and 4 million turn 60. So what does this huge, affluent, aging populati...

Environmental awareness and ecological responsibility are at the forefront of today's news. Fitness industry professionals can follow the examples of the rapidly growing number of green spas, green buildings and companies practicing sustainable management policies. You may be surprised to learn that it does not necessarily cost more to"keep it green!" Discover ...

Boot camps have never been a hotter commodity in the fitness industry than right now. As the concept has grown in popularity, so has the need to come up with a viable business model to ensure that the quality of boot camp programming remains high. To stay competitive, you need to focus on delivering participants the results they want; generating referral business; maximizing your return o...

If you’re thinking about going into business with a friend, you might want to heed some advice from the National Federation of Independent Business. Before you let your best buddy be your business partner, make sure your goals and commitment levels match up. Here are some questions to ask before you take the plunge with your pal: What is your dream job? A s...

Retention, retention, retention. The fitness industry breathes and sleeps retention, continually pondering bigger and better strategies for holding on to members. Yet many facilities still focus on getting new members in the door, providing a basic orientation and setting them free—free to slowly lose interest in attaining their fitness goals and coming to the gym. This pattern occu...