My P&L

Every gym owner should be getting and reviewing their P&Ls regularly to gauge the status of their business.A P&L statement is a financial statement that summarizes a business’s income and expenses for a given period. It can be monthly, quarterly, or yearly.It includes revenue from memberships and products, operating expenses, and non-operating income. Understanding the numbers on the P&L can help gym owners more accurately assess the financial health of their business.It’s rare in the gym business to see any gym owner share their P&Ls, but in this episode, Tim and Randy do exactly that.The proof of the pudding is in the eating - The reason for sharing the P&L is to show gym owners that what they teach here in the podcast and in the coaching programs is actually something that is happening.Tune in to hear about the P&L numbers from Tim’s gym and how to build a million-dollar gym business!Key Takeaways- The importance of reviewing your P&L (00:43)- The average profit of a gym (02:41)- Keep the main thing the main thing (05:06)- The profit of the pudding is in the eating (12:24)- Our new million-dollar coaching program (14:07)- The biggest problem gym owners face (16:54)- How to make more profit (17:42)Additional Resources- Webinar link: https://us02web.zoom.us/webinar/register/WN_7mAdf7noTUepTnyvS3VcIw?inf_contact_key=2b6c88b24d34e87488276b75706b6ff2cc0558ed5d4c28cbfab114022b1ec50dPasscode: BestYear2023!----- Learn more about our Business Accelerator Coaching Program for Gym Owners  - Grab your tickets for the 2023 FitPro Growth Summit  - Learn more about The Iron Circle - Business Talk with Fitness Professionals Facebook group ---If you haven't already, please rate and review the podcast on Apple Podcasts!