Personal Training Business Finance Tip: Boost your bank balance
Want to improve the profitability of your PT business; here are 3 quick tips to help boost your bank balance…
1) Review your PT Rates on a regular basis, keep an eye on what the market is doing and plan to increase your rates at the same time each year
2) Keep on top of debt collection! Don’t let you clients lag behind on paying you.
3) Chat to a financial institution, like Ezy-pay, and set up your clients onto a direct payment system for automatic and seamless payment into your account.
Just remember, dealing with money might be your least favourite task, but getting on top of your finances means you have more time to do what you love!
Justin is the Managing Director of Active Management, which he began January 2004. He offers coaching to businesses worldwide in everything from start up and design to marketing and sales systems. Justin also facilitates four Australian and New Zealand ‘fitness industry roundtables’ events, which allows him to see a huge cross section of business models.