Having enough cash on hand will ensure your gym business can stay afloat and survive even during difficult economic times. However, just how much cash should a gym business have on hand? Read on to learn how to calculate how much cash a company needs.What Is Cash on Hand?
Cash on hand refers to funds you have set aside for emergencies and other unexpected expenses. Many gym businesses keep money on hand in savings accounts, though choosing the proper high-yield savings account can help you get more out of your money. However, cash on hand can also refer to assets that you can quickly exchange for cash.
In either case, cash on hand shouldn’t be invested into stocks or high-risk investment opportunities. That’s why it’s called “cash” on hand.Why Your Gym Business Needs Cash on Hand
Having cash on han…