As a writer of promotional material for fitness professionals, I was recently asked to consult on an advertisement for a chain of fitness clubs. The ad’s headline referred to shedding pounds, and below that was a photo of a super-slim woman—captured from midriff to mid-thigh—wearing only a bikini bottom and a tape measure around her waist.
The vast majority of new businesses fail because of undercapitalization, according to Stewart Welch, III, a certified financial planner and author. But obtaining the necessary capital is the biggest challenge new ventures face. With 50 percent of small businesses failing within the first year of
operation, banks are loath to lend to such start-ups; lenders look for at least two years of profitability before loosening the purse strings.
One of the most mundane aspects of running your facility may well be keeping track of the balance sheet. But what an essential task it is! Not only will tracking the numbers make your operation run smoother, if you ever decide to sell your business or apply for a loan, you will impress potential buyers and lenders with your top-of-mind knowledge of your company’s financial health. Gain a better grip on what’s happening in your books, and perhaps your company, by reviewing finances regularly.
If you have followed the first three segments of this column, you realize by now that I believe management effectiveness begins with the person who looks back at you from your mirror! I have attempted in the initial three segments to give you ways to improve your well-being—a trait all great managers have.
By Krista Popowych
Veteran fitness leaders share their practical strategies for retaining quality group fitness instructors and other key staff.
While many Americans dislike their careers, the majority of fitness professionals tend to be happy in the workplace and like what they do. I am one of them: I love my job. Advancing along my own career path, I have ...
Despite a setback in the national economy, fitness facilities in this country are in good health. According to IHRSA, the total number of U.S. health clubs and fitness centers increased by 5.1 percent during 2001. This percentage reflects the leap from 16,938 health clubs in business in January 2001 to a record 17,807 clubs operating in January 2002. This is the fourth consecutive year the fitness industry has posted gains, and this growth represents a 41 percent increase in the number of clubs since 1992.
If you made the investment in yourself to do the exercise I suggested in the last column (three sheets of paper—two columns each—titled “Things I Like to Do,” “Things I Don’t Like to Do,” etc.), you probably learned a lot about your true abilities, your shortcomings and who you are as a manager.
This column should help you begin to take better care of yourself in everyday management, which should positively affect your well-being. This change in you will ultimately affect your employees, your members and your organization in an extremely
Establish a routine. When you get a receipt that can be deducted, immediately file it in a place (organizer, wallet, checkbook) where you can retrieve it later and put it into the appropriate file.
Make sure you can read it. When you get the receipt, be certain all the information printed clearly. If not, fill in the missing information (date, amount, location, purpose).
If you you have to fold it, fold it printed side up. This will make it easy to find later.