The Health Coaching Business Podcast

Finances for Fitpro’s with Billy Hofacker Ep #79

Apr 8, 2025
Billy Hofacker, a finance coach for fitness professionals and multi-gym owner, shares his powerful journey from financial crisis to success. After having his car repossessed and racking up $130,000 in debt, he transformed his life and now coaches others in the industry. He discusses the critical need to separate personal and business finances, offers strategic hiring advice, and emphasizes the importance of proper tax planning. Billy also highlights how fitness discipline can translate to financial management, encouraging listeners to embrace responsibility and seek mentorship.
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ANECDOTE

Car Repossession

  • In 2010, Billy Hofacker's car was repossessed, revealing $130,000 of debt.
  • This event became a turning point, motivating him to transform his finances.
ADVICE

Financial Foundations

  • Separate business and personal finances for clarity.
  • Plan for taxes and price services properly to avoid discouragement.
ADVICE

Strategic Hiring

  • When hiring, consider payroll percentages and set a budget.
  • Project best-case, likely, and worst-case scenarios to make informed decisions.
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