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Private Equity vs Venture Capital: What’s the Difference?

Both young and mature companies have to decide the type of loans they might take out, who they will partner with, and their general operational guidelines. The truth is, investors are the lifeblood of all companies. Finding the right investors is vital to the success of a company.

While there are several types of investors, knowing which investor best fits the company's needs can accelerate a company's growth.

This post will walk you through two types of investors - private equity and venture capital. Often, entrepreneurs fail to see the distinction between private equity vs venture capital. The truth is that these investment strategies have subtle but vast differences.

What Is Private Equity?

Private equity (PE) refers to direct investment in private companies where investors get control of interests …

SBA 504 vs. 7A Loan: What’s the Best-Fit Loan for Your Gym Business?

Small businesses sometimes need a little financial help. Whether you are looking to help with your day-to-day expenses or you are looking to invest in growing your business, an SBA business loan might be a good option. The SBA 504 and the SBA 7a are small business loans that might help your financial portfolio.

What Are SBA 504 vs. 7A Loans?

Let's compare the differences and similarities between an SBA 504 vs. 7A loan below.

SBA 504 Loans

An SBA 504 loan is given to business owners seeking to purchase or improve their existing assets. These assets can include land, buildings, or company equipment.

The business owner's motivation is taken into account when being considered for this loan. Approval will go to those who have promising projects for economic development or show that they are supportin…

4 Ways to Lessen the Impact of Inflation on Your Gym Business

For any entrepreneur, the threat of inflation looms large. The cost of doing business tends to go up and down every year. You may ask “how to survive inflation in 2022?” That's why small business owners must stay on top of small business inflation and its impact to create sustainable success in their businesses.

Fortunately, there are plenty of measures that you can take to implement business strategies for high inflation.

What Is Inflation?

Essentially, inflation is a sustained increase in the average prices of goods and services in an economy. Prices rise due to increased demand or scarcity of goods and services.

For example, if there are ten apples in a basket and only one person wants them, each apple is worth $1. But if ten people wish to buy those apples a…

YouTube vs. TikTok: Which is Better for Your Gym Business?

YouTube and TikTok are two of the most popular social media platforms in 2022, with 2.29 billion and 1 billion monthly active users, respectively.

About 12.5% to over 25% of the global population uses these platforms. This usage rate makes them ripe for marketers and advertisers to reach their target audience worldwide.

However, are these social media giants useful for your gym business? Should a gym businesses market and advertise on these platforms?

If so, which is better for your gym business?

In this article, we will answer these questions by looking further into how to use social media for business. By the end, you will know if advertising your business on YouTube vs. TikTok is worth it and which is better.

…

Why Was My SBA Loan Declined? What to Do After a Denial.

If you have credit troubles, it can be frustrating to try and get approved for a small business loan. You may have tried applying for an SBA loan only to find out that it didn't go through. You may wonder why your SBA loan was denied, or what you should do next.

We will help you answer these important questions, so you know what to do next time you apply for an SBA loan.

What is an SBA Loan?

Understanding SBA loans is the first step in learning to apply. The U.S. Small Business Administration (SBA) offers several loan programs that support small businesses and entrepreneurs by providing financing to those who may not qualify for a traditional loan on their own.

SBA loans have longer repayment terms than conventional bank loans. They serve one purpose – to help small business owners start, grow, and succ…

7 Things Gym Entrepreneurs Should Know About Sales and Marketing Today

Confusion usually follows when discussing marketing and sales. Marketing and sales do differ, but they still work together hand in hand. Knowing the difference between sales and marketing will help your gym business form coherent teams that tackle your business issues while improving your marketing and sales efforts.

What Is the Difference Between Sales and Marketing?

The difference between marketing and sales lies in their goals and focus. The marketing team focuses on the company's image and spreading brand awareness. Their overall focus is to get people interested in a business product.

The sales team in the contract doesn't necessarily focus on the image of the product or business. It focuses on closing deals with prospects to turn them into customers.

Sales and marketing examples typically show t…

Remaining Agile in a Rapidly Changing Business Environment

It's never been easy for aspiring entrepreneurs to start a new business. What's worse, the modern business sphere has more complexity and challenges than ever before. In fact, research shows that approximately 50% of all new businesses don't survive beyond five years.

Well, some manage to stay afloat beyond the five-year mark. However, you may face immeasurable challenges that necessitate swift action followed by adaptation. Doing so will provide the only way for you to thrive.

For those businesses that can't keep up with market changes and trends, the risk of falling to obsolescence is pretty high. Do you remember Myspace? Blockbuster? Blackberry? These businesses failed to adapt quickly to the developments in their space, and right now, we can say they're history.

We can't let you suffer the same fate. T…

How to Protect your Gym Business from Identity Theft

Understanding the risk of identity theft to your gym business will help you take the appropriate measures to protect yourself from identity fraud. Many gym businesses don’t protect their data properly, leading to data breaches and a loss of customer trust. Here’s what you need to know about identity theft and how it relates to businesses.

What Is Business Identity Theft?

Business identity theft refers to when scammers obtain a business owner’s personal information to pose as them. They use that information to open credit lines, illegally use the business owner’s existing credit cards, take out loans, or obtain tax refunds and other benefits.

Once a hacker has access to your personal information, there's a lot they can do with it, even posing as you to open up fake office locations and scam customers.

An…

9 Methods to Increase Cash Flow for Your Gym Business

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 avenues.

What Increases and Decreases Cash Flow in a Small Business?

Do you know how to increase cash flow in a company? Cash flow does not refer to just profits. It's tied to excess funds and expenses. When net income decreases, so does cash flow.

Gym businesses must first pay their liabilities and expenses such as debt, employees, and administration costs. The excess wealth left can improve the business by investing in better equipment to speed up production, generate more revenue through new projects, or put into a savings account to generate interest and be used for emergencies.<…

How Much Cash Should Your Gym Business Have On Hand?

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…

What Is An Unsecured Guarantor Loan and Should You Consider It?

Maybe you received a loan rejection or know you have poor credit. Perhaps you have a startup idea and need a small business loan. Regardless of your situation, an unsecured guarantor loan can seem like the ideal solution.

While these loans are less risky for the borrower, there are still consequences for nonpayment. Learning everything you can about guarantor loans will help facilitate your decision.

What Is an Unsecured Loan?

Secured loans are attached to physical assets the loan borrower can use as collateral. For example, a mortgage loan for a house uses the home as collateral. If the borrower fails to repay the loan, the lender can re-sell the home to make up for nonpayment.

On the other hand, an unsecured loan has no attached collateral. The lender thus has a higher risk of not receiving payment fr…

4 Tips To Qualify For a Gym Loan When Business is Slow

If you are a gym owner, you know that overnight, financial situations can change. Now more than ever gyms are aware that financing options are often necessary to get them through tough times such as slow seasons, a recession, or global events like the recent pandemic.

Whatever the case may be, looking into gym business loans and having a plan in place is always a good idea. Below, we will cover tips for people wondering how to qualify for a gym loan, and we will discuss various financing options to help you better decide what is best for your business.

4 Tips To Help You Qualify

If your gym business is struggling, it can be challenging to qualify for a gym loan. Each business situation is different, and each loan has its own requirements. Below are four tips to help you get started if you are wondering how to qualify for a gym loan when business …

Applying for an SBA Loan? When You Should Expect Funding.

When your small business needs funding, an SBA loan may be a great alternative to more common small business loans.

What is an SBA loan?

Simply put, they’re small business loans that are partially backed by the Small Business Association (SBA), a government agency. Because the SBA backs the loan, at least in part, lenders can offer funding on more flexible terms.

Banks and other financial institutions offer SBA loan terms based on the business’s financial records, credit reports, tax returns, and past loan history.

At this point, you might be asking how to get an SBA loan, but you may want to consider a more important question first: how long does it take to get an SBA loan approved?

How Long on Average Does it Take for SBA Loan Approval?

New Gym Start Up and Franchisees: Personal Business Loans and What You Need to Know

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 personal loans as a way to get the seed money to start their businesses. Is that a smart move financially? Let’s look. What is a Personal Business Loan? A personal business loan is a personal loan that’s used to start a business. These loans are based on the entrepreneur’s credit, and the entrepreneur is personally responsible for paying the loan back as agreed. This loan will show up on the entrepreneur’s credit report and not the business’ books. Benefits of Using Personal Loan to Start a Business Using a personal loan as fuel to power a startup has its advantages. Among them are: Flexibility Personal loans can be used however you’d like. This gives a business owner options in how to spend the money from …

How to Get a Business Credit Card

If you are a small business owner, then you should consider getting a business credit card. A great practice for business owners is to keep personal and business finances separate. One way to do that is to apply for a business credit card. Have you been told that credit cards are more trouble than they are worth? That’s not all true; they can be beneficial. Business credit cards and consumer credit cards have some differences. Consumer credit cards are used to establish a line of credit for individuals. Business credit cards are for business owners—whether that is a corporation, small business, or freelancer—to credit purchases for business expenses. Various institutions offer different options for business credit cards. The key to it all is choosing the right small business credit card that suits your needs. What Is a Small Business Credit Card? A small business credit card is a business credit card that establishes a line of credit to cover business-related purchases and…