Micro-gym owners often skip profit to focus on their mission, but the speaker argues profitability is essential for survival. A gym that makes money can serve members indefinitely. His book Profit First for Microgyms shows how to allocate cash flow, cover taxes, and actually pay yourself.
Hey, in this tip today, I just wanted to share with you what I hope somebody gets out of reading Profit First for Microgyms. There is this belief, I believe, that I've seen in the microgym and boutique fitness studio, which is, you know, I'm changing lives, it's a noble purpose, and therefore I don't really need to be paid. I don't need money for this. I'm willing to sacrifice because the good that I'm doing outweighs the need to receive any money. I would love for you to consider that in order to do good continually and for a very long amount of time, there needs to be cash available to support your life and And the gym. A gym that is not profitable just literally will not be around forever. A gym that is profitable could be around forever. So even that possibility should be enough. So in the book, the main message— when I'm— when I was writing the book, what I was thinking about the whole time is that I want gym owners to understand That you deserve to be profitable. I understand what you're doing is super noble and helps the people that come through your doors. You are changing lives. In fact, I go so far as to say you're saving humanity. I believe that. But I also believe in order for you to continue to do it, your gym needs to be making a profit so that you can sustain it. And every word I write, even as I'm thinking about What are the allocations I need to make for profit? How should my cash flow be going in and out of my bank accounts? Even when I talk about taxes, my underlying thought is always, I want you to know you deserve to be profitable. Because at the end of the day, it's what your members are begging for you to do. Because by being profitable, it allows you to focus on their experience. Instead of your survival. It's a much better outcome when you can focus solely on their experience because you know the other stuff's getting taken care of. So that's the main underlying message of my book, Profit First for Microgyms. If that resonates with you, please share with a friend, buy the book, subscribe to our YouTube channel. We are happy to be part of this. fitness community, and we hope that we can change gym owners' profitability so they can continue— so you can continue to change the lives of your members. Have a good day. Thank you.
