Introduction Running a gym can be a rewarding venture, but it comes with its own set of financial challenges. A recent question from the Gym Owners Network asked about common financial and cash flow mistakes gym owners make and what best practices they should follow....
Claim everything you are entitled to: Make sure you know what you can claim. For example if you are on the road for work (or work outside) you can claim sunscreen so if your foundation, lip-balm or moisturiser has an SPF factor then you may be able to claim it. You...
You are finally here – Congratulations! It is time to launch your new gym. As getting a gym up and running can be very challenging, especially if it’s your first time, I wanted to share a checklist of essentials, to help get you started. The bulk of the...
As a commercial tenant, you would be well within your rights to ask for extended period of rent reduction, if you continue to suffer from reduced working hours or capacity due to restrictions. Likewise, your landlord could equally refuse your request if they deem it...
1. Delay capital expenditure Given the precariousness of the COVID-19 situation, gym owners should carefully consider any investment they make in capital equipment until the current circumstances improve. Although, understandably, some business owners see this as an...
Have you ever played the card game “BULLSHIT”? It’s where you have to tell your opponents what hand YOU have, and THEY can either choose to accept your word for it and play on, OR they can call “BULLSHIT” and you have to show what you...