257. Overpaying & Undercharging: How To Wreck A Coaching Business By Not Understanding Profit Margins

The nightmare situation as an online coach is to scale your company, hire assistant coaches and a staff, have your staff make more money than you, and you become a minimum wage entrepreneur with all the stress and risk that comes with owning your own business. We don't want that to be you so today's episode is all about profit margins, common mistakes we see within IFCA and the industry, and how to make sure you pay employees fairly while having healthy margins.   Time Stamps:   (0:10) Profit Margins (1:30) Common Mistakes (4:20) Undercharging for Your Service (9:00) Paying Employees and Healthy Margins (10:06) Gross vs Net Profit (15:30) Raising Your Prices ________________________________________ Learn More About Impact Fitness Coaching Academy…. How We've Helped More Than 725 Fitness Coaches, Experts, and Influencers Grow a 5-35k Per Month Online Fitness Business Without Paid Ads, Complicated Funnels, or Even Having a Large Social Media Following For More Info → CLICK HERE ________________________________________ Want 30+ Hours Of Course Content You Can Use To Either Start, or Scale Your Online Coaching Biz Today? - FOR FREE To Access, Join Our Fitness Business Secrets™ Private FB Group and Receive To Join For Free Click → JOIN THE FIT-BIZ SECRETS FB GROUP The Free Mini-Course Includes: [$4,995.00 Value] ✅ How We Generate 300k/ Mo From a Free FB Group ✅ Our Instagram Secrets Masterclass - How To Use IG To Generate 10-30 New Clients Every Month + Grow an Engaged Loyal Following. ✅ What systems, apps, and processes we use in our own business and in the 700+ IFCA client businesses we've helped to structure and streamline. ✅ Our Top 10 Organic Fitness Posts That Have Generated More Than 45,675 Likes, 2,560 Comments, and 1,876 New High-Paying Fitness Clients in our Own 7-Figure Online Fitness Business. ✅ Our Done-For-You Content Calendar 100+ Posting Ideas Guaranteed To Bring You Pre-Sold Leads, Grow Your Following + Create REAL Authority and Connection Online. ✅ How To Craft An Offer That Sells Itself - 5 Keys To an Irresistible "Switch Offer" ✅ Our Objection Handling Masterclass - How To Eliminate "I can't afford it" + "I need to talk to my spouse" To Join For Free Click → JOIN THE FIT-BIZ SECRETS FB GROUP ________________________________________ Join Us at the Next Fit Biz Conference to learn from the Top Fitness Entrepreneurs & Coaches How To Start, Grow, and Scale a Wildly Profitable Fitness Coaching Business! Early-Bird Pricing Now Available! To Learn More About The Next Live Fit-Biz Conference Event → CLICK HERE ________________________________________ GIVEAWAY! Leave a rating + review on iTunes, and Have a Chance To Win a $200 Amazon Gift Card + Special Prizes! Winners Announced Monthly on The Episode. Simply leave a review, and send a screenshot to the Fit Biz Podcast Instagram Page!