John Briggs, author of Profit First For Microgyms, joins me to discuss Profit First and how it relates to gym owners. Check out this episode and get your finances on track. You work too hard not to benefit financially.

If you listen to this episode, you'll hear the following mentioned:

Successful gyms have multiple revenue streams
Profit First for Microgyms
The difference between microgyms and globogyms
Why nutrition is a good service post-Covid
Most owners aren't paying themselves enough
Why being a fitness professional is one of the most important job
"Profit is the necessary fuel for a viable business."
6 figure take home pay is very possible
20-30% margin is possible but most have 5-10
How Profit First helps to get past Parkinson's Law
Why you need to sometimes cut sessions
The first step is doing whatever you can to pay yourself what you need
Other funds (e.g. equipment account) can be used for emergencies
Once your equipment funds has enough, you can stop transferring
Don't open a second location without maximizing the first
Once you've got a fully funded reserve account, the fun begins
Fix This Next
How to win Friends and Influence People
Primal Leadership
Profitfirstformicro
com

Contact Billy directly about possibly doing coaching with him, visit https://yourfitnessmoneycoach.com/coaching-with-me/ and fill out the form.

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56. Profit First for Microgyms - An Interview with John Briggs