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1. P&L Overview
The P&L or Profit and Loss Statement is what helps bankers and investors determine if your business is profitable or not. This is one of the most important financial documents for any business plan but easily one of the least understood. Our team can guide you through step by step from revenue to expenditures and profit.
2. Revenue / Expense
Once you have an understanding of your P&L document, the next step is proper management of your revenue and expenses. A gym or health facility is an investment and just like any business there are costs and profit. We can get you started on the basics.
Some costs to consider are:
- Renting a space
- Equipment purchase & maintenance
- Cost effective supplies
- Employee pay
- Software for finance and/or member management
Creating and following a budget ensures that you always have money to spend on the things that are most important without going into debt. Whether that is marketing or equipment maintenance, we can help you to set up a plan of action that makes the most sense.
Marketing is the final step to financial success and is one of the most important steps to growing your business beyond the front door. Not only will marketing assist with advertising, promotions, and sales but it can also help you to determine how to best reach potential customers. Check out our marketing page to see what we can do for you!