Truecoach webinar

Mastering Business Finances 101 for Fitness Professionals

Insights from Michelle Blakely, See Jake and Jane Train' Join Michelle Blakely, a 20-year fitness business veteran, twice named Chicago's best personal trainer, and the Co-Founder of See Jake and Jane Train. With a mission to help fellow fitness professionals thrive, Michelle brings a wealth of experience to guide you through essential business finance concepts.

WB - Biz Finance 101

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Key Learnings:

  • Tax and Legal Basics: Understand the fundamentals of tax and legal considerations, differentiating between business and personal aspects, and why this distinction matters.
  • Financial Clarity: Gain insights into auditing bills, managing time and income, and why a clear understanding of your financials is crucial.
  • Needs vs. Wants: Uncover surprising revelations about distinguishing between needs and wants, providing a fresh perspective on managing your expenses.
  • Getting Professional Help: Learn who and what to add to your life now to enhance your financial management and overall business efficiency.

Meet the speaker

Michelle Blakely

with See Jake and Jane Train

As a 20-year fitness business veteran, Blakely is on a mission to help her fellow fit pros thrive! Twice named Chicago’s best personal trainer by the Chicago reader, Michelle’s second company, See Jake and Jane Train, enlightens fit pros on better, brilliant ways to run their businesses. See Jake and Jane Train clients enjoy revenue increases of 18–142% and ROIs in just 35 days with proven online courses and tailored one on one business coaching. Blakely writes and presents nationally for the NSCA, PFP, WIFA, Club Industry, AFS, Iron Radio, and SCW. She is a go-to source for publications including Good Housekeeping, Prevention, and Oprah.com.

Struggling with Finances? Let's Transform Them!

If you're looking to boost your financial confidence and take control of your training dollars and personal expenses, don't miss this opportunity. Join Michelle in this insightful discussion on Business Finance 101 for fitness professionals. Download the webinar now and leave with practical concepts and resources to level up your financial game. Powered by TrueCoach: Elevating Fitness Businesses Beyond Workouts.

Watch the webinar

Understanding Business Finance 101 Essentials

Delve into the fundamental concepts of business finance to empower your financial decision-making and drive the success of your fitness business.

Grasping Tax and Legal Fundamentals

Gain clarity on the foundational principles of tax and legal considerations for small businesses:

Differentiating Business and Personal Finances

  • Understand the importance of separating your business finances from your personal finances to maintain clarity and compliance with tax regulations.
  • Learn how to establish distinct accounts and record-keeping practices to effectively track revenue, expenses, and tax obligations.

Navigating Tax Obligations

  • Explore the various types of business taxes, including income tax, sales tax, and payroll tax, and understand your responsibilities as a fitness professional.
  • Discover strategies for minimizing tax liabilities and maximizing deductions to optimize your financial outcomes while remaining compliant with tax laws.

Achieving Financial Clarity and Efficiency

Unlock the secrets to achieving financial clarity and efficiency in your fitness business operations:

Auditing Expenses and Revenue

  • Develop a systematic approach to auditing your business expenses and revenue streams to identify areas for optimization and improvement.
  • Learn how to analyze financial statements, such as balance sheets and income statements, to gain insights into your business's financial health and performance.

Managing Time and Income

  • Implement effective time management strategies to maximize your productivity and income-generating activities as a fitness professional.
  • Explore tools and techniques for budgeting, forecasting, and setting financial goals to ensure long-term financial sustainability and success.

Distinguishing Needs from Wants

Master the art of distinguishing between essential needs and discretionary wants to make informed financial decisions:

Prioritizing Financial Resources

  • Identify your business's essential needs, such as rent, utilities, and equipment, and prioritize allocating financial resources to meet these obligations.
  • Explore strategies for minimizing discretionary spending and reallocating funds towards investments that support your business's growth and profitability.

Cultivating Financial Discipline

  • Develop disciplined spending habits and exercise restraint when faced with non-essential expenses or impulse purchases.
  • Embrace a mindset of financial stewardship and responsibility to safeguard the financial health and longevity of your fitness business.

By understanding the essential principles of business finance, you can make informed decisions, optimize your financial resources, and position your fitness business for long-term success and sustainability.