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…

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Short-Term Gym Business Loans: The Versatile Option

Finding the right financing options is a major challenge for gym businesses. Many small enterprises, including new gym 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. Unfortunately, you probably won’t have much luck at the bank. In fact, an average of a minimum of 80 percent of small business loan applications at banks are rejected. Fortunately, however, there are other options.

With a reputable non-bank short-term business loan option, you enjoy accessibility and versatility. Here’s everything you need to know about how to get a business loan without collateral or a stellar credit score.

A short-term business loan (also referred to as a short-term commercial loan or SBA loan) is a loan that you pay bac…

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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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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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8 Tips for Securing a Cash Advance When You Have Bad Credit

If you're looking for a cash advance with bad credit, you may be feeling a bit hopeless.

It can seem tough to find lenders who will work with you if your credit score is low. However, there are still options available to you.

In this article, we will discuss eight tips for how to get a cash advance with bad credit. We'll help you understand what a cash advance is, what bad credit is, and where you can go to get cash advance loans with bad credit.

So, don't give up yet. There are still ways for you to get the cash that you need.

What Is a Cash Advance?

A cash advance is a short-term loan that you can use to cover emergency expenses. It's a great option if you need cash quickly. Cash advances are typically unsecured loans, which means that you don't need to put…

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Why hire a Membership Sales Coach when I already have a Sales Manager in my Gym?

Most health clubs already have a membership sales manager or someone who is in charge of membership sales production in some capacity, so why hire a sales coach for the membership department? Many sales managers are not trained in the subtleties of effective gym sales training nor have they developed the necessary skills and tools to be effective sales leaders. The most common way to hire a gym sales manager is to simply promote your best sales person in the membership department. This logic suggests this person is the most qualified to lead the membership sales team based on their past membership sales achievements. This type of promotion by necessity is common, but not commonly successful. In the process you may even lose your top membership sales performer when their leadership abilities fail to match their sales ability. The key reason being: Great gym sales people don’t often make great gym sales managers.

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Tedious Gym Management Tasks that Can Be Automated

Reposted from www.abcfinancial.com

There is no longer the time nor the place for tedious, manual tasks involved in managing your gym; automation is taking its place. Time is too valuable to waste, and with the industry growing at 3% annually, integrating efficiency into your gym operations to keep up with competition is imperative to your success. Even the simplest tasks can be automated to save you time and add a layer of professionalism to your gym. With the advancement of gym management technology, it is now an expectation that processes be completed as quickly and easily as possible.

These five tasks can be laborious if done manually, but if you start to automate them, you’ll see these tasks can be a piece of cake!

Member Check-In

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Tips for Opening A Gym in New Locations

Reposted from www.abcfinancial.com

Are you thinking of opening a gym in a new location but don’t know where to start — or if you are even ready for it? Growing your business involves a lot of new challenges, from employee management to sales strategy. But do not let these growing pains deter you from expanding! Follow these tips to determine whether you are ready to open in new locations and learn how to approach the process.

Are You Ready for Expansion?

The first piece of the puzzle is figuring out whether you are even ready for the move. There is nothing more damaging to a business than moving too fast at the wrong time — and running a gym is tricky.

If you are currently operating a single gym, make sure you are hitting your yearly revenue targets and making a p…

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When Was the Last Time You Submitted a Press Release?

Reposted from www.abcfinancial.com

I’ll bet it’s been a while…if ever. The press release is one of the most misunderstood and underutilized marketing strategies in the fitness industry. By submitting quality press releases to your local media outlets, you’ll get plenty of free publicity for your fitness business.

Press releases are a free form of promotion, and are one of the most powerful. Getting mentioned by a reputable source is much more powerful than a postcard campaign or other advertising you might be planning. Getting mentioned in local news media outlets lends credibility to your health club and will allow your target audience an unbiased way of getting to know you and your business.

First of all let’s discuss what a press release is. It is simply a method of lett…

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Listing Gym Broker – Co-broker

We want to Help! Would you be willing to work with us as a Business Broker to help sell your business for you??? There are NO Fees until your business sells. We will Advertise, Market, Network & Promote your business For Sale. We will work hard for you. We want to Help! We have a very strong data base of buyers who we work with that are specifically interested in the fitness business. We look forward to hearing from you. Please advise ASAP so we may execute a Sale of your Business. Other brokers are welcome to contact us.  We will co-broker.
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Financing Opportunities for your Gym

You can’t execute your vision for your gym if you don’t have the financial resources needed to implement it: this is a simple truth for every gym owner across the industry. It takes capital to transform vision into reality, and in most cases, the bank across the street from you may not be your best option. In fact, given the strict nature of bank lending over the past decade, it may not be an option at all. Most small- and medium-sized gyms and fitness centers struggle to secure funding needed for acquisition, growth or working capital needs. Gym owners are focused on the day-to-day challenges of running their club, and it can be very difficult and time-consuming to survey a vast array of lending options to identify one that can actually be secured. While every vision will not be suitable for every lender, there is usually a lending partner somewhere that is the right fit for that vision. And it is the role of Fitness Management & Consulting to connect you with a lend…
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Sealing the Deal: The Benefits of a Gym Broker

Traditionally, a broker serves as a facilitator between buyer and seller, arranging transactions in exchange for a commission. If you're starting a new gym or modifying your existing vendor list, you can benefit from the knowledge and expertise of gym brokers. You don't have to face the daunting venture of starting a fitness center business alone. Getting Started If you're thinking of becoming a health club or fitness center owner, your gym broker can locate prospective sellers. A qualified gym broker will have valuable insight on buying and leasing space, establishing contracts with companies that supply the latest in health club equipment, and securing package deals. Your broker can also assist in acquiring the basics -- pool maintenance products, locker room supplies, health and beauty products, or vending machines. Establishing or Expanding Your Vender List If you are just starting out as a fitness center owner, you don't need to spend more time establishing you…
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Sell Your Gym Now

Is it time to sell?  Wanting a buyer for your gym? Don’t know where to find them? Our channels get thousands of hits each month.  When owners of gyms are looking to sell they turn to Fitness Management.  Fitness Management is your link to leading gyms and top business brokers by connecting you with quality prospective buyers and strategic acquirers. Buy/Sell transactions are at the highest level since 2007.  For buyers, the represents strong value opportunity as a result of increasing revenue growth and stabilizing prices.  The consistently strong financial performance of gyms bodes well for the future and is why gym owners are earning healthy sales prices upon exit. Fitness Management has Sr. Business Intermediaries looking for gyms in your area.  Reply now to find out if you are a possible match. Qualified buyers and strategic acquirers are out in force, it is truly a seller’s market.  Act now for a no-obligation consultation. Please fill in the requested information an…
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