I interviewed Billy Hofacker of Your Fitness Money Coach - as he was referenced in Jonathan Goodman's new Book - 'The Obvious Choice' (it's a great book, get it if you have a service based business)…
Billy shares his journey from financial crisis to becoming a successful (multiple) gym owner and financial coach for fitness professionals.
Billy transformed his finances after having his car repossessed, paying off $130,000 in debt within 5 years, and ultimately $500,000 total.
We covered everything from separating business and personal finances to planning for taxes, proper pricing, strategic hiring decisions, and long-term investment strategies.
Some key points;
• 0:07 - Introduction to Billy Hoffacker, finance coach and fit pro with over 20 years of experience who owns two physical locations and was quoted in Jon Goodman's Book
• 2:57 - The pivotal moment that changed everything: Billy shares the emotional story of having his car repossessed and discovering he had $130,000 in debt
• 9:29 - Common financial pitfalls for beginners: Billy reveals why separating business and personal finances is crucial and explains why proper tax planning and pricing are essential foundations
• 11:12 - Strategic hiring advice for growing fitness businesses: Learn the three-scenario approach to making smart staffing decisions (best case, likely case, and worst case)
• 16:45 - The mindset shift: Billy explains how fitness professionals can apply their existing self-discipline to transform their finances, comparing financial success to fitness achievement
His site is here; https://yourfitnessmoneycoach.com/
Grab his book here; https://fitpro.yourfitnessmoneycoach.com/
Book a call with him here; https://YFMCscheduling.as.me/QA-Call
LinkedIn: https://www.linkedin.com/in/billyhofacker/
Facebook: https://www.facebook.com/billyhofacker/
Watch the interview on YouTube here; https://www.youtube.com/watch?v=s4V8fuQPDmE
Connect with Kate here;
www.katemartinmentor.com
