The P.T. Entrepreneur Podcast EP159 | One Big Mistake To Avoid When Starting Your Practice
Jan 30, 2019
11:00
If you're starting your practice by subleasing space in a gym, listen up. I see so many PTs make one huge mistake when negotiating their rent: agreeing to a percentage-based model. I'm telling you why a flat monthly rent is a much better, safer, and more autonomous way to go for the long-term health of your business.
π Key Takeaways:
- Don't agree to pay a percentage of your revenue as rent. It gets incredibly expensive as you grow.
- Negotiate a flat monthly rent from the start. It gives you autonomy and financial privacy.
- People get weird with money. You don't want your landlord seeing your revenue and developing resentment or jealousy.
- Position yourself as an asset that helps the gym with member retention, not just another revenue stream for them.
π§ Pro Tip: Take a chance on yourself. If you believe in your business, commit to a flat rent. It establishes a professional boundary and protects your upside.
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