Fitness Business Basics - CEC Course
Derrick Wilburn, MBA
Many fitness professionals find out the hard way that there's a lot more to starting a business than just running an ad in the local newspaper and raking in the clients. In addition, there is a vast difference between being an independent personal trainer and owning a business. This lecture examines some of the very basic, yet very critical—and often overlooked—elements that go into opening and running a successful enterprise.
By Derrick Wilburn, MBA
- Name and understand the fundamental differences between the three basic business structures and different kinds of IRS tax filing status.
- Summarize the key differences between the sole proprietorship, partnership, LLC, S-Corp and C-Corp and describe which makes the most sense for the majority of small business owners.
- Identify each of the four quadrants of the "Cash Flow Quadrant."
- List and summarize the "5 Ps" of marketing.
- Identify important differences between growth through hiring employees and independent contractors and associated legal ramifications.
- List important financial relationships necessary for a business to run (and grow) smoothly.
|Fitness Business Basics ||Video|