Your Fitness Money Coach Podcast - Helping Gym Owners Build Profitable Businesses How to Read a Financial Statement Part 2 (Profit Margin)
#219:
In part 2 of our 3-part series on reading financial statements, we're talking about profit margin.
Generally, fit pros know that a higher profit margin is a good thing, but there can be a lack of connecting the dots from the financial statement to real life.
Listening to today's show will teach/remind you:
- What profit margin is - Of course, it's the margin of profit but we'll look into what that means
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Why it matters - Why it's crucial to understand your business's profit margin
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How to calculate it
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Some nuances you need to know as they relate to the fitness industry
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How to make sure you're comparing apples to apples
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How to increase your profit margin without the endless chase of more clients
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. If you or someone you know is looking for a plan to dial in their finances and achieve some financial freedom, book a short call with me here!
P.P.S. You can book a call at that same link if you are interested in getting your financials dialed in and efficient with bookkeeping.