How Gym Leaders Create and Use Their Networks

Great leaders have a series of management tasks that enhance the achievement of goals in organizations. These tasks mainly involve team coaching, the delegation of work among subordinates, and decision-making. To be a great leader, you’ll also need to prioritize networking.

Networkers connect with like-minded individuals in the industry, employees, and other company managers. Your personality traits significantly contribute to your ability to connect with various individuals in the industry. Some of these traits include integrity, passion, and courage.

Leaders create and use networks mainly to learn from more experienced individuals in the field.

Why Networking Is Important For Gym Leaders

Your professional network is the most powerful tool at your disposal as a leader. You build, interact, and maintain…

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How to Get a Gym Business Loan as an LLC

Limited liability companies are the most popular choice for small businesses. The numerous benefits of forming an LLC are why it remains the favored option for small companies. The advantage of LLCs comes from the limited liability the business owners have in case of lawsuits, financial burden, and tax flexibility.

These LLC benefits also open up avenues for additional financing. Depending on your business's needs, you may find certain types of loans for LLCs more favorable than others. Regardless it's important to understand what an LLC loan is and how to get a business loan as an LLC company.

What To Consider Before an LLC Business Loan

An LLC Loan is a small business loan that focuses on funding the LLC, not the company's owners, even though it's technically a byproduct of the loan.

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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…

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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…

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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…

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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…

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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.<…

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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…

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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 …

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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 …
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5 Personality Traits That Great Business Leaders Have In Common

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 leader always maintains their integrity and is honest with those around them. They do not make promises they cannot keep and they always stand by their word. This is what makes them a respected and trusted individual. Maintaining your integrity is essential to being a good leader, as it builds trust among your followers and allows you to lead with confidence. Being honest also demonstrates that you have nothing to hide, which further strengthens your relationship with others. By upholding your integrity, you set an example for others to follow and inspire others to be the best versions of themselves. Passion: A passionate leader is one who truly cares about their cause and the people they are leading. T…
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Finding the Best Financing Solution for Your Business

Which entrepreneur doesn’t fantasize about starting a business and see it venture to something big without any mishaps? While this is a great vision, most business owners have one stumbling block: money. In fact, according to SBA (Small Business Administration) in a 2020 report, small business owners borrowed $645 Billion to help support their businesses. When the need for money exceeds the cash-at-hand, many areas are negatively impacted, and you need a plan B. Here is the good news; there are many financial solutions that you can opt for to help you evade the financial hitches caused by inadequate funds. Here are some of the best financing solutions that you can approach. The Different Types of Small Business Financing Solutions You can never run short of small business financing options for businesses. However, each has different policies, and not all of them are perfect for your business’s financial needs. Take time to understand the types of financing for busine…
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How to Sell on Facebook Marketplace as a Business Owner

Facebook Marketplace began as a place for users to buy and sell items similar to a garage sale. Since its introduction, Facebook Marketplace has gained popularity over the years. Since our world prefers online shopping over traditional stores, Facebook Marketplace has become a hot commodity among business owners. The in-app platform allows anyone to post items—new or used—for sale, purchase, and shipment through Facebook. In the past, the majority of items sold were from individual sellers. As the individual side of Marketplace gained popularity, business owners have become keen on its benefits and potential. Some benefits of using Facebook Marketplace as a business owner are: Exposure for your business and brand. Based on data from June 2021, 70% of Facebook users visit the app daily. A variety of marketing tools are available. The different tools for advertising help you discover ways to reach your target audience. Opportunity to provide a personal experience…
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Every Entrepreneur Needs an Attorney in Their Contracts

If you want to start a business, you need to surround yourself with the right people. One of the first professionals you need on your team is a business planning attorney. A legal advisor can assist you with various aspects of starting up your business. He or she will be able to offer legal advice to avoid problems down the road. It is essential for you to understand the value of hiring a business attorney because this decision can have a big impact on the future of your endeavors. You Should Really Speak with a Lawyer Before You Sign That Starting a business requires a lot of paperwork. Before you sign anything or enter into any type of agreement, you need a business planning attorney to look over the paperwork. FindLaw explains you will need to have a lawyer assist you with everything from choosing your business entity to drawing up contracts. You want legal advice as you register your business and to help ensure you get every permit or license you must have to ope…
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Actively Seeking Gym Sale-Leasebacks

We’re partnering with a national commercial real estate firm to identify and acquire the underlying real estate of gym locations. The locations are then leased back to the fitness operator on a long-term basis. We are interested in acquiring single-tenant properties for private, corporate, and franchised locations. How does a sale-leaseback transaction work? We will pay a negotiated amount for the real estate asset and then lease the premises back to the operator on a long-term basis. This provides the operator with freed-up capital while, at the same time, allowing them to continue to operate their business exactly as they always have. What are the benefits of a sale-leaseback to a fitness center operator? v Significant capital, previously tied up in the real estate, is freed up. These funds can be used for a wealth of purposes including fueling future growth, paying down debt, purchasing new equipment, and aiding in succession/buy-out scenarios. v The fitness c…
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