Being an entrepreneur is challenging, and one of the biggest hurdles is getting the financing needed to start a business. The best small business loans can give entrepreneurs the funds to start a company, but approval isn’t always easy. Some entrepreneurs consider...
Answers to gym business loan FAQs. Gym business loans can be easier to obtain than you might think. Whether banks are the best option for obtaining a gym business loan depends on your gym business’s circumstances. Interest rates are only the start of the...
Term loan Similar to traditional bank style financing. A Term Loan is a set amount that a borrower pays back at a fixed amount. The common uses for these types of loans are business expansion, working capital and equipment purchases. Benefits of a Term loan Interest...
Owning a small business can be stressful, to say the least. Applying for a small business loan doesn't have to be stressful at all, though. And understanding how to get a low-interest business loan can bring relief to your company in just a few hours. What Is a Small...
What Is Inflation? Inflation is an economic condition that occurs when the prices for goods and services rise. This can be caused by a variety of factors, including increases in the cost of production, scarcity of resources, or excessive monetary supply. When...
Technology has changed professional networking more than ever before, and the digital business card is the way of the future. The digital business card is an easy differentiator and a fantastic way to stand out in a crowded market space. Show prospective clients what...
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Jim Thomas Fitness Management & Consulting — We have designed a portfolio of service offerings that are intended to go to the root of the issues in the gym industry. Education YouTube Channel Blog Business & Strategic Planning Corporate Gym Management...
Networking is connecting with other people, usually for professional reasons. It’s often seen as a necessary evil by many people, but the truth is that networking can be an excellent tool to help you achieve your business goals. There are countless benefits to...
The necessity of online presence for small businesses cannot be understated. A substantial amount of commercial traffic takes place online, and this is unlikely to change. To understand why an online presence is important, business owners must grasp the concepts of...
There are many different leadership traits that can make someone successful. However, some traits are more important than others and can be the difference between a good leader and a great one. Here are five of the most important leadership traits: Integrity: A good...
Starting a small business is challenging. You're likely to fail if you don’t have a great business idea and a well-defined plan. There are so many opportunities out there, and coming up with a great business idea is the first step to success. If you’re planning to...
According to the U.S Bureau of Labor Statistics, approximately 70% of small businesses make it to the end of the second year, and the number drops up to 50% at the end of the fifth year. This decline is mainly linked to financial problems. As a small business owner,...
There are few singular success stories in business where only one person or company was able to gain success without any help whatsoever. Collaboration is behind winning deals and designs, fueling future accomplishments. The benefits of collaboration are myriad....
What Is Scaling In the Gym Business? In order to understand scaling in business, it’s important to first understand what it is. Simply put, scaling is the process of growing a company or organization to a larger size. This can be done in a number of ways, but the...
What Is a Revolving Business Line of Credit & How Does It Work? Suppose you're a business owner who could use cash on hand but doesn't have it readily available. This is when a revolving line of credit would come in handy. Let's make clear what these terms mean....
Finding the right financing options is a major challenge for small businesses. Many small enterprises, including startups, don’t yet have collateral. In some cases, their structure requires a flexible lending option. This is where short-term business loans come in....
When studying the economy, three interest rates control lending to banks, mortgages, and consumer loans. The three terms that often get confused are federal funds, prime, and discount interest rates, which helps with understanding SBA loans. Anyone wanting to know how...
Cash flow refers to money put into a business and sent out. Cash flow is essentially the movement of funds. When a business receives money, they want to spend it on optimizing its cash flow better. Optimization of cash flow comes from actively making income from these...
There are two main types of business structures: partnerships and LLCs. Both have their own unique benefits and drawbacks, so it can be tough to decide which is the best option for your business. What is a Partnership? A partnership is a business structure where two...
When you take out a long-term loan for your business, you gain access to a large amount of money meant for meaningful investments in your enterprise. Most long-term loan repayment periods range from three to ten years. If you get an SBA loan, your term may extend even...
Is buying a business a good idea? There is no simple answer, but buying a business can either be a wise choice or a disaster depending on the industry. Buying a business comes with its risk, but typically the significant barrier of entry risk is lowered because of the...
Managing profit margins when you own a business is crucial to success. It aids you in making decisions that improve the company and lets you adapt to client needs more quickly. You become a leader that is proactive and makes decisions based on facts. A lot of...
Approximately 82 percent of small and medium-sized enterprises fail due to cash flow problems. Of course, several factors can affect your cash flow. An aging accounts receivable or invoices that are past their due dates may account for a fair share of your cash flow...
Every gym business needs high-quality equipment to get its job done and in the right way. But seldom do gym owners have money set aside to pay for the equipment up front. They may be willing to do so but know that doing so may put a substantial dent in their cash...
Unless you have excellent cash flow or you’re fortunate enough to have plenty of your own money for your new gym startup, most entrepreneurs wonder, how much can I get on a gym business line of credit? How to determine how much line of credit you can get for your gym...
