Your Fitness Money Coach Podcast

#273 In this episode, I share the story of two gym owners. One thriving and one struggling and what made the difference. If you've ever felt the pressure of not knowing where your money is going or wondered how to create more financial peace in your business, this one's for you. We'll break down 5 simple but powerful ways to lower money stress without needing a finance degree or a million spreadsheets. Here's what you'll learn: How to decide what you actually want and build a goal-setting rhythm that sticks Why your personal finances (and spouse communication!) matter more than you think The car analogy that will change how you look at your business finances What the rearview mirror can teach you (P&L, balance sheet, spending patterns) How to use your windshield to forecast, plan, and drive with confidence You'll also hear the phrase I repeat all the time: "If you don't manage your money, it will manage you."

#272 In this episode, I'm joined by James Allen, former productivity coach and founder of Profit Your Knowledge. We talk about what it really takes to grow your business without burning out. James shares how applying simple frameworks like the 80/20 Rule and Parkinson's Law helped him stop spinning his wheels and start scaling smarter. We also dive into why your first (or fifth) funnel might flop and why that's totally OK. We also jam on: Building your course with your audience, not before you have one How to use a sales page as a waitlist builder Automating to work fewer hours without losing momentum Lessons from The 4 Agreements The truth about improvement, it doesn't happen by accident If you're a coach, gym owner, or creator looking to work less and earn more, this episode's for you.

#271 Kevin Dineen is the founder of Structure and the St. Louis Fitness Conference. He got his start at Equinox before launching his first training space—a modest 150 square foot facility in New York City. From those humble beginnings, Kevin built a multi-location business, trained high-level clients (including celebrities), and relocated to St. Louis, where he continues to serve his local community. In this conversation, we cover: Kevin's journey from trainer to founder Lessons from working with ultra-successful clients How to stand out in fitness through hospitality Becoming a trusted advisor in a noisy industry The communication skill that elevates everything else Connect with Kevin: Coach Kev's IG STL Fitness Conference

#270 Guest: Sherman Merricks, Chief Sales Officer at LASSO In This Episode: Paid Ads in the Fitness Industry: Sherman breaks down why paid ads are essential for gym owners and fitness pros looking to expand their reach and generate quality leads. The Power of Sales Skills and Training: We discuss how investing in developing your sales skills can help you create lasting relationships with clients and boost your business' growth. Niching Down Your Message: Sherman shares why focusing on the pain points of your ideal clients is key to standing out in a crowded marketplace. Practical Tips for Gym Owners: Real, actionable advice on how to implement these strategies to increase conversions and grow your business sustainably. Resources Mentioned: LASSO - Lead and Sales System Optimization: Gym Marketing Made Simple Sherman's e-mail  

#269 I recently had the pleasure of being interviewed by Kate Martin, and we had an honest, in-depth conversation about my journey, from having my car repossessed to paying off almost $500,000 in debt, and eventually helping other fitness professionals get financially strong. We covered a lot including the exact steps I took to climb out of $130K in debt, how I went on to run two gym locations, and why I'm so passionate about coaching other fit pros on money. Kate also brought up my mention in Jonathan Goodman's new book The Obvious Choice, which was a fun full-circle moment. In the episode, we talk about: • The wake-up call that started it all • Why separating personal and business finances is a must • Planning for taxes and pricing your services properly • How to make smart hiring decisions using a simple 3-scenario approach • And how the self-discipline we build in fitness applies directly to building wealth If you're in the fitness industry (or any service-based biz) and want to feel more confident with your money, I think you'll get a lot from this one. Listen now and take your business to the next level! Connect with Kate here: www.katemartinmentor.com

#268 Every master was once a disaster. That's just one of the powerful insights Brian Keane dropped in this episode as we dive into what it really takes to build a successful fitness business. Brian, a former schoolteacher turned fitness entrepreneur, author, and podcast host, shares his 12-year journey of building his brand and the marketing principles that helped him scale. In this episode, we cover:  ✅ The difference between an influencer and a coach (hint: it's your offer!)  ✅ Why pull marketing beats push marketing for long-term success  ✅ The True Force Multiplier concept & how to create exponential impact  ✅ Why choosing the right media (podcasting, writing, video) matters  ✅ The False Consensus Bias—how assuming your clients think like you can hold you back  ✅ Sniper vs. Shotgun Marketing—the key to strategic content that actually converts  ✅ How storytelling connects to your core offer for more compelling marketing  ✅ The harsh reality: Random Posting = Random Results If you're a fitness entrepreneur looking to grow a sustainable, profitable business, Brian's wisdom in this episode is exactly what you need. Follow Brian Keane's Podcast: The Online Business Podcast Listen now and take your business to the next level!

#267 In this episode, I had the chance to sit down with fellow BJJer Jordan Edwards, author of Business Jiu-Jitsu, CEO of Mixology (which operates 17 locations and employs 450 people), and a partner in the family investment company, Chart Organization. Tune into the conversation and hear about: Navigating Business Challenges: Jordan shares his strategies for navigating difficult situations. Success in Business: We dive deep into Jordan's approach to achieving success and what it really takes to build and sustain a thriving business. Business Lessons from Brazilian Jiu-Jitsu: Jordan discusses how lessons from BJJ can be applied to business, including developing grit, enhancing problem-solving abilities, and staying resilient through tough times. Leadership: As the CEO of Mixology, Jordan talks about what it takes to scale a business, manage a large team, and maintain success across multiple locations. Even if you're not a BJJ practitioner, the principles Jordan discusses are universally applicable to anyone looking to grow in business and overcome obstacles. Links Mentioned in This Episode: Follow Jordan on Instagram: @businessjiujitsu Mixology: shopmixology.com Chart Organization: ChartOrg.com Other Resources & Links:

#266 Guest: Alison K, Business Coach for Hybrid Health, Fitness, and Wellness Businesses In This Episode: Creative Options for Online Training: Alison explains that online services are only limited by your creativity, whether it's one-on-one sessions, accountability programs, or subscriptions. There's no shortage of ways to serve your clients virtually. The Power of Blending Offline and Online: We dive into why business owners don't have to choose between offline or online—they can (and should) blend both for maximum impact and growth. Running Small, Profitable Retreats: Alison introduces the idea of hosting small retreats with 3-8 people. These intimate events can be powerful for creating a unique experience with a theme or focus, which is something not many people talk about. The Power of Live Events: We also explore why live events can make a huge difference in building strong client relationships and growing your business. Resources Mentioned: Alison K on Instagram: @thealisonk Alison's Podcast Mini-Series on Running Profitable Retreats: The Retreat ID Method  

#265  In this episode of Your Fitness Money Coach Podcast, I'm joined by fitness coach and writer Andrew Coates for a thought-provoking discussion about focusing on the person in front of you, rather than getting caught up in the pressure to "scale." Andrew dives into the importance of listening to your clients and using their questions to inspire your content. We also talk about the value of investing in yourself, which Andrew sees as essential for unlocking your true earning potential. What You'll Learn: Why "scaling" might not be the answer—focusing on quality over quantity and the benefits of serving clients directly. How client questions can be a powerful content creation tool to connect deeper with your audience. The importance of investing in yourself—how personal growth and learning can directly translate into business success and higher earnings. The role of financial mastery in building a sustainable fitness business that thrives long term. The Power of Live Events The BEST way to set up one-on-one client payments Resources Mentioned: Andrew Coates' website Andrew's Instagram

#264 Corey Smallwood, owner of Go Performance Clarksburg and Gyminai Fitness Solutions joins me to explore the evolving role of AI in the fitness industry. With 28 years of experience as a coach, speaker, and consultant, Corey brings unique insight into how AI can help fitness professionals save time, enhance client experiences, and stay ahead of the curve. In this episode, we cover: Is using AI in fitness "cheating"? Where to begin if you're brand new to AI Will AI replace coaches? How to stay relevant in an AI-powered future If you're curious (or concerned) about AI, this episode is for you. Links & Resources: Connect with Corey on IG Go Performance Coaches Unscripted Podcast Other Resources & Links:  

#263 Today on the show, I'm joined by the incredible Caroline Plambeck. Caroline serves as Team Captain for Studio Grow and is also a passionate studio owner herself. She's a numbers and spreadsheet expert with a background in accounting, which has allowed her to blend her love for fitness and her financial expertise to create remarkable success. Caroline's journey is nothing short of inspiring. She was able to buy into a struggling business and completely turn it around—without getting bogged down in the day-to-day operations. Her sharp spreadsheet skills helped her grow the business and expand, all while maintaining a focus on coaching other studio owners. In this episode, Caroline shares her insights on growing a business, coaching others, and the valuable lessons she's learned from working closely with studio owners at all levels. She's passionate about coaching because, like me, she believes that having a coach is a huge part of success. Listen in to hear Caroline's practical advice on what studio owners should focus on and what pitfalls to avoid in their own journey to success. Key Takeaways: How Caroline leveraged her accounting background to turn around a struggling business. The importance of having a coach and how it shaped Caroline's journey. Key lessons from working with studio owners and the common mistakes to avoid. How spreadsheets and financial clarity can lead to successful business expansion. Whether you're looking to grow your business or get better at managing the financial side of your fitness studio, Caroline's insights are invaluable. Tune in for a conversation full of actionable strategies and inspiration. Connect with Caroline: https://studiogrow.co/ Caroline's IG Other Resources & Links:  

#262: Success isn't all about flashy moves and quick fixes—it's about consistency, discipline, and a little bit of room to breathe when things go off track. In this episode, Billy breaks down 5 simple but powerful pillars that apply to both fitness and finance. Success is boring: Staying consistent with the basics is the key. No need for shortcuts—get comfortable with repetition. You don't have to be perfect: Don't let perfectionism hold you back. You can make mistakes, get a lot of things wrong, and still end up in a great place! You have to stay educated: Never stop learning. Books, podcasts, courses, coaching—invest in your growth. Discipline: This one is all about doing it when you don't feel like it. Live within your means, stay on track, and stick to your plan. Have some reserves: Whether it's financial buffers or having a backup in your fitness routine, having that cushion can save you when life throws curveballs. You don't have to be perfect, and I'm proof of that! I made plenty of mistakes in my journey, but the key was staying consistent and building from there. This episode is inspired by a recent post I made on Facebook about the biggest Wealth Killer—and I'm here to share how you can avoid it! Resources & Links:  

#261: Do you ever feel like you're running around all day but not making real progress? You're checking things off your to-do list, but at the end of the day, it feels like nothing actually moved forward. In this episode, I break down the difference between being busy vs. being productive and share practical strategies to help you take back control of your time. If you're a fitness business owner who wants to grow your revenue without working 24/7, this is for you!                                                                                                                        What You'll Learn in This Episode:  ✅ The #1 reason why most gym owners struggle with time management  ✅ How to set clear boundaries and stick to your schedule  ✅ The simple trick to avoid scope creep and stay focused  ✅ How to track your time like a pro and reclaim your productivity Resources & Links:  

#260:  I talk a fair amount about managing cash flow as a Profit Coach. I truly believe it's the missing piece for many fitness entrepreneurs. With that said, growing revenue is a vital piece of the puzzle. All else being equal, the business with more clients and revenue wins. Of course, it isn't quite that simple.  I'm excited to share an interview I did with Hailey Rowe.  Hailey is a marketing and sales coach for Health Pros.  There are a few things that stood out about our conversation.  The Power of Tracking - Hailey tracks a lot. While you don't need to track as much as her, what would it look like for you to level up your tracking? Remember, what gets measured improves.  Putting the audience first. Hailey has a pretty big following for a niche market but she's way more concerned with giving her audience content that they want. She explains some simple ways to do that.  She shares the 4 steps to take someone from an awareness of who you are to a happy, paying client. 

#259: In this episode, I share the unexpected story of my laptop crashing right before a big conference—and how that tech meltdown turned into an opportunity for growth. I dive into the lessons learned about staying adaptable, embracing vulnerability, and keeping things simple, even when plans go off the rails. Key Topics Covered: The Unexpected Setback: How a laptop crash derailed my carefully planned start to a 4-day conference trip. Embracing Disruption: Turning frustration into a moment of clarity and presence. Dealing with Comparison: The struggle of feeling “less than” amidst highlight reels, and how that comparison can distort reality. Actionable Lessons: Simplify: Sometimes the solution is as straightforward as ordering a new computer or tracking your spending. Values First: Align your financial and personal decisions with your core values. Action: Don't let setbacks paralyze you—taking even small steps forward can create big change. The Power of Vulnerability: How admitting my struggles can be a hidden strength, leading to personal and professional growth. Timestamps: 0:00 – Introduction and setting the stage 2:00 – The laptop meltdown and initial reactions 5:00 – Reflections on vulnerability and comparison 8:00 – Key lessons: Simplify, Values First, Action 11:00 – Conclusion and call-to-action Have you ever faced an unexpected setback that led to personal growth? Share your story with me on social media using #GlitchToGrowth! Additional Resources:  

#258: Have you ever felt like you're spinning your wheels, waiting for the "perfect time" to make a move? Success doesn't wait. In this episode, I share key insights from my recent mastermind experience and break down why acting with urgency is the game-changer most gym owners are missing.

#257: I remember the exact moment I hit rock bottom—standing there as a tow truck pulled away with my car, feeling like a single thread had been pulled, unraveling my entire life. That moment changed everything. In today's episode, I'm getting personal. I'm sharing how I went from A deep financial struggle—drowning in debt and uncertainty—to completely transforming my money habits and eventually coaching gym owners just like you. If you've ever felt stuck, stressed, or unsure how to move forward with your finances, this episode is for you. In This Episode, You'll Learn: ✅ The financial rock-bottom moment that changed my life ✅ The small steps I took to regain control ✅ How I turned my biggest struggle into my biggest strength ✅ Why your financial future can be WAY brighter than you think Resources & Links: Grab your very own copy of Fitness Profits Book a Q&A Call

#256: Are you mixing your business and personal finances? It's time to stop! In this episode, I break down why separating your finances is essential for financial clarity and success as a fitness entrepreneur.You'll discover: The risks of co-mingling your money. Simple steps to keep your business and personal finances separate. How this one habit can transform your money management. Don't let financial stress hold you back. Tune in now to take control of your finances and simplify your life! Resources & links  Fitness Profits Book Work with Billy: Book a Profit Clarity Call Connect with me on Instagram @BillyHofacker.  

#255:  In this episode, Billy Hofacker dives into a real-life scenario that many gym owners face: not having enough to pay their tax bill. Learn how to overcome financial challenges using a proven three-step process inspired by Switch. From clear goal setting to finding your WHY and creating sustainable systems, this episode is packed with actionable advice to help you regain control of your finances. Key Takeaways: The importance of analyzing past successes. Why reconnecting with your purpose can drive action. Practical tips for creating an environment that fosters financial health. Links/Resources Mentioned: Switch: How to Change Things When Change Is Hard by Chip and Dan Heath.       Links and Resources: Book a quick Profit Clarity Call. Connect with me on Instagram @BillyHofacker. Grab a copy of Billy's game-changing book, Fitness Profits Action Step: Do the next specific step, regardless of how small.  Don't forget to subscribe and leave a review! Your support helps us reach more fitness entrepreneurs like you.  

#254: Are you feeling like you're behind or not where you want to be in your fitness business or personal life? You're not alone. In today's episode, I'm here to remind you that progress isn't always linear and that challenges are part of the journey. We'll explore how to shift your mindset, embrace small wins, and find your unique path forward. Plus, I'll share my own story of overcoming setbacks and why I believe you're exactly where you're meant to be right now. What You'll Learn in This Episode: Why comparing yourself to others is a losing game—and how to stop. The importance of focusing on your vision and daily habits. Practical steps to regain momentum and create meaningful progress. A sneak peek at an exciting offer I'm putting together to help fitness pros gain financial clarity and control (stay tuned!). If you're ready to stop feeling stuck and start moving forward, this episode is for you! Links and Resources: Book a quick Profit Clarity Call. Connect with me on Instagram @BillyHofacker. Action Step: Do the next specific step, regardless of how small.  Don't forget to subscribe and leave a review! Your support helps us reach more fitness entrepreneurs like you.  

#253: Feeling overwhelmed by your business finances? In this bite-sized episode, I'm sharing three simple and actionable steps you can take today to gain financial clarity in your fitness business. These quick fixes will help you organize your expenses, create a money management system, and build the habits you need for long-term success. What You'll Learn: How to categorize your expenses to know exactly where your money is going. A simple money management system to stabilize your cash flow. The power of a weekly financial review—and how to make it a game-changer for your business. If you've been putting off tackling your finances, this episode is your sign to start today! Resources & Links: Ready to take control of your finances? Check out the Profit Growth Mastermind. Message me for details. Connect with me on Instagram @BillyHofacker. Action Step: Pick one of the quick fixes and implement it within the next 48 hours. Share your progress with me on social media or email—I'd love to celebrate your wins with you! Don't forget to subscribe and leave a review! Your support helps us reach more fitness entrepreneurs like you.  

#252: Slow seasons are a reality for most businesses, including gyms. But what if they could be an opportunity instead of a challenge? In this episode, I'm diving into why gym owners should embrace a “Winter Strategy” to make the most of quieter times. You'll learn how to see slow seasons as a blessing in disguise, creative winter promotions to keep your clients engaged, and how to prepare your business for tax season and Q1 success. Let's turn the winter slowdown into a time of growth and preparation! What You'll Learn: How slow seasons can help you work on your business instead of just in it. Creative, actionable ideas for winter promotions to keep your clients engaged. Steps to prepare your business for tax season and a strong Q1. Resources Mentioned: Your Fitness Money Coach Podcast Archive Fit Profit Solutions Consultation  Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker  

#251: What if you could start 2025 with financial momentum instead of stress? In this episode, I'm sharing the three financial habits that I believe can make all the difference for your finances in the new year. These tips are simple, actionable, and proven to work—even if you're just getting started. Tune in to learn how to: Get on the same page with your partner using monthly meetings. Take control of your money with a detailed budget. Automate your finances to save time and stay consistent. Let's make 2025 the year you take your finances to the next level! What You'll Learn: Why monthly money meetings can transform your finances—and your relationships. A step-by-step guide to creating a budget that works for you. How to automate your finances for consistency and long-term success. Resources Mentioned: Your Fitness Money Coach Podcast Archive Fit Profit Solutions Consultation  Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker  

#250: The holiday season is here, and it's one of the most challenging times to stay on top of your finances. But don't worry—I've got you covered! In this episode, we're diving into three simple, actionable strategies to keep your financial fitness in check while still enjoying everything the season has to offer. You'll learn how to manage cash flow when holiday spending is high, discover budget-friendly ways to show appreciation to your clients, and start setting yourself up for a successful Q1. Let's make this holiday season one to celebrate—not stress over. What You'll Learn: How to create a holiday spending budget and avoid post-season debt. Creative, meaningful, and budget-friendly ways to show appreciation to your clients. Three steps to start planning for a successful Q1 while still enjoying the holiday festivities. Resources Mentioned: Your Fitness Money Coach Podcast Archive Fit Profit Solutions Consultation  Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker  

#249: As we near the end of 2024, it's the perfect time to reflect on the journey we've taken. In this bite-sized episode, I challenge you to summarize your entire year in just one word. Why one word? Because it cuts through the noise and highlights what truly mattered to you—whether that's growth, change, resilience, or, in my case, “Plan.” I'll share the thinking behind my chosen word, “Plan,” and guide you through a simple exercise to find your own. By identifying a single word that encapsulates your year, you'll gain clarity and set a meaningful intention for the year ahead. Key Takeaways: Discover why honing in on one word can provide powerful clarity. Hear why “Plan” was my word of 2024 and the impact it had on my approach to business and life. Get prompts and ideas to help you find your own word and use it as a compass for the future. Action Step: After listening, choose your one word for the year. Ask yourself what major theme defined 2024 for you. Then, consider how that word can influence your decisions and direction as we head into 2025. Listen Now Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode  

#248: As the year comes to a close, I'm reflecting on five powerful lessons that shaped my business, mindset, and overall well-being in 2024. These insights go beyond financial strategies—they're about building a meaningful life and thriving both personally and professionally. Key Takeaways: Enthusiasm Makes Up For A Lot: When you bring genuine energy and passion to what you do, you can overcome skill gaps and turn setbacks into stepping stones. Quote: “Nothing great was ever achieved without enthusiasm.” – Ralph Waldo Emerson It's OK to Grieve: Acknowledging loss and allowing yourself to feel can fuel long-term resilience. Give yourself permission to slow down, process, and come back stronger. Relationships Rule: Your network, friendships, and mentors matter—both in business and in life. Prioritize people over transactions.Quote: “You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.” – Dale Carnegie Build a Life: Don't just focus on building a business—build a life you love. Align your goals, values, and daily habits so that you enjoy the journey, not just the destination. Invest in Yourself: Continuous learning, personal development, and self-care pay off in every area. Whether it's taking a course, hiring a coach, or improving your health habits, investing in yourself creates lasting returns Quote: “Investing in yourself is the best investment you will ever make.” – Robin Sharma Listen Now Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode  

#247: Gratitude isn't just a seasonal gesture—it's a life-changing practice that can transform your mindset, relationships, and even your business success. In this episode, I reflect on the power of thankfulness and share practical ways to incorporate gratitude into your daily life. Here's what you'll hear: How gratitude shifts your mindset and strengthens your business relationships. My personal journey with thankfulness, including the struggles I've faced. Simple but powerful strategies to express gratitude, like hand-written thank-you notes and recognizing your clients. What gratitude means to me on a deeper level, including a reflection on faith with the quote: “A life of gratitude to God for being saved is far more pleasing than a life based on self-righteousness over being good.” – Timothy Keller This episode will leave you inspired to practice gratitude—not just during the holidays, but all year long. Key Quotes: “Feeling gratitude and not expressing it is like wrapping a present and not giving it.” – William Arthur Ward “Recognition is the greatest motivator.” – Mary Kay Ash “It's not happiness that brings us gratitude. It's gratitude that brings us happiness.” – Anonymous Action Step: Take a moment this week to express gratitude to one client, colleague, or friend. Listen Now Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode Newsletter sign-up link    

#246: Scaling your business can be thrilling, but it's not something to rush into. In this episode, I'm sharing 3 critical steps every fitness professional should take before scaling to ensure sustainable success: Follow the Wealth Building Plan (WBS): This 8-step guide helps you decide where to put your next dollar for maximum impact. Focus on One Success First: Most people don't get rich twice—don't jump into starting another business before fully optimizing your current one. Get Your Accounts in Order: Having clean books and clear finances is the foundation for scaling. Plus, as a nod to the season, I'll talk about the importance of gratitude and reflecting on your journey before moving to the next level. Key Takeaways: A clear plan (like the WBS) prevents financial missteps. Scaling isn't about speed; it's about strategy. Gratitude keeps you grounded as you grow. Listen Now Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode Newsletter sign-up link    

#245: In this special bonus episode, I'm revealing all the details of my Black Friday offers—designed specifically for gym owners who want to take their finances to the next level. Here's what we're covering: A discount on a powerful mastermind with exclusive bonuses. A one-time Profit Booster Intensive session at a massive discount. Fresh bookkeeping solutions to help you start 2025 strong. Early access to the ‘Plan for Profit' course with extra resources. A Cyber Monday workshop to kickstart your financial plan for the year. Don't miss these game-changing opportunities!

#244:  In this episode, we explore how to navigate the financial implications of major life changes, such as having a baby or moving to a new city. Join me as I share practical tips on budgeting, financial planning, and effective communication with your partner to help you thrive during these transitions. Key Points: Budgeting for Change Reevaluate your budget to accommodate new expenses. Set priorities to distinguish between necessary and discretionary spending. Strengthen your emergency fund to cover unexpected costs. Financial Planning Update your financial goals based on your new circumstances. Review and adjust your insurance needs. Maintain contributions to your retirement savings. Communicating with Your Partner Discuss financial expectations openly to reduce stress. Align on spending and saving priorities together. Plan for adjustments as life circumstances evolve. Resources: Fitness Profits Book Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode Newsletter sign-up link    

#243: In this episode, we tackle the financial challenges that fitness business owners face during slow seasons. Join me as I share practical strategies for assessing your financial situation, generating revenue, and making smart spending decisions to help you navigate these quieter times successfully. Key Points: Assessing Your Current Financial Situation Review cash flow statements to identify income and expense patterns. Differentiate between fixed and variable costs to find potential savings. Establish a financial buffer for peace of mind during slow months. Strategizing Revenue Generation Diversify income streams with online classes, merchandise, or workshops. Create promotions and discounts to attract new and returning clients. Implement membership retention strategies to maintain steady cash flow. Smart Spending and Budgeting Trim unnecessary expenses by reviewing subscriptions and contracts. Prioritize investments that will yield future revenue growth. Set a realistic budget that reflects the slower months while planning for growth. Resources: Fitness Profits Book Connect with Us: Book a Q&A www.yourfitnessmoneycoach.com Instagram Episode Newsletter sign-up link    

#242: In this quick episode, I share three must-do tasks to set your fitness business up for a successful new year. By focusing on your finances, tax planning, and goal setting, you'll make sure you're ready for what's next. Tune in for practical, actionable tips to wrap up the year with clarity and confidence. Key Takeaways: Review Financial Performance: Evaluate this year's revenue, expenses, and cash flow. Identify trends to inform your strategy for next year. Plan for Taxes: Save on taxes by making strategic last-minute deductions, contributions, or business investments. Set Business Goals: Define 2-3 specific goals for growth in the new year based on this year's performance and insights. Listen Now:  Episode Newsletter sign-up link    

#241: In this episode, Billy Hofacker interviews Daniel Meng, a former gym owner who sold his gym for $900K ($950K with interest). Daniel shares his inspiring journey—from his days as a college baseball player to becoming a personal trainer for celebrities like Kenny Chesney and eventually running and selling a successful fitness business. Topics covered: Transitioning from a private to a semi-private training facility Key strategies for gym owners at different stages: those starting out and those ready to sell The importance of systems, financials, and simplicity for a smooth exit What adds value to gym evaluations and what detracts from it How Daniel used a broker and tips for a seamless selling process The impact of surrounding yourself with the right people Whether you're planning to sell your gym someday or just want to optimize your business, this episode is packed with insights that can help you run a smarter and more profitable gym. Links and Resources: Episode Connect with Daniel Meng: daniel.meng@comcast.net Newsletter sign-up link  

#241:In this episode, we explore the often-overlooked topic of how gym owners should compensate themselves. It's not just about taking home a paycheck—it's about creating a strategy that aligns with your personal life goals and sustains your business for the long term. Billy breaks down a practical 4-level system for owner's compensation, starting small and building up to profit distributions. He also shares key mindset shifts gym owners need to make and how to find the right financial guidance tailored to your unique situation. Key Takeaways: Build Your Business Around Your Life: Start with the vision of what you want your personal life to look like and ensure your business supports that. Adopt a Pay-Yourself-First Mentality: Break through the limiting beliefs that hold you back from paying yourself properly. The 4-Level System: Level 1: Start with something, no matter how small. Level 2: Cover your bare-bones budget. Level 3: Add a little extra for flexibility. Level 4: Include profit distributions. Seek Trusted Guidance: Find a mentor or coach who understands your needs, rather than offering one-size-fits-all advice. Links & Resources: Episode  Newsletter sign-up link    

#240: In this episode, I sit down with fitness business coach Vince Gabriele, a seasoned expert in the industry with over 20 years of experience. We cover crucial aspects of owning a fitness business, from effective marketing strategies to the importance of being “obsessed” with your customers. Key Topics Discussed: Knowing Your Customers: Vince shares why being genuinely invested in your clients is a game changer for business success. He explains how to do so with his “spotting” technique. Revenue Diversification: We explore the right timing for diversifying revenue streams and how it can affect long-term stability and growth. From Consumption to Production: Discover Vince's perspective on not just consuming content but using it to create something unique for your business. Living in Reality: Vince emphasizes that successful owners must maintain a grounded view of their business situation to avoid common pitfalls. The Psychology of Ownership: We discuss how the mindset of an owner can sometimes create obstacles, referred to as "chokeholds," and how to overcome these mental blocks. Marketing Case Study: We also share some fun moments discussing Vince's experiences with Brazilian Jiu-Jitsu (BJJ) and how he would market himself, given his experience.  Tune in for a blend of practical advice and engaging stories that can help you take your fitness business to the next level! Important links: Download Vince's book here Book a Q&A with Billy here

#239: In this episode, we dive into the crucial relationship between profit and cash flow for gym owners. As a financial coach and fractional CFO, I share insights on why understanding and managing both aspects is critical for long-term success. Whether you're struggling with cash flow or looking to enhance your profit margins, this episode is packed with valuable tips and strategies you can implement right away.     What You'll Learn: The critical differences between profit and cash flow and why both matter Tips for managing expenses effectively to improve cash flow Ways to implement tiered membership models for increased revenue Utilizing membership freezes or holds to maintain engagement and revenue The benefits of encouraging clients to use high-automation payment methods     Resources Mentioned: 7 Profit Lever System Connect with Billy: Website: www. YourFitnessMoneyCoach.com Instagram  Facebook LinkedIn Subscribe & Review: If you enjoyed this episode, please subscribe and leave a review on [Apple Podcasts, Spotify, etc.]. Your feedback helps us reach more gym owners and fitness professionals!  

#238: In this episode of Your Fitness Money Coach Podcast, I'm sharing how public speaking has completely transformed my fitness business—and how it can do the same for you. Whether you're an entrepreneur looking to grow your business or just want to improve your communication skills, public speaking can open doors you didn't even know existed. In this episode, we discuss: My personal journey from speaking rookie to confident presenter The many ways public speaking builds authority and credibility in the fitness industry How improving your communication skills can positively impact your client relationships How public speaking can help you overcome fear, boost confidence, and even create new income streams PLUS, I'm excited to announce that my friend, fitness entrepreneur and world-renowned speaker Todd Durkin, is hosting a FREE webinar to help you master the art of public speaking. If you've been wanting to improve your speaking skills or get started on the right foot, you won't want to miss this! Show Links: Sign up for Todd Durkin's free public speaking webinar Listen to past episodes of Your Fitness Money Coach Podcast  Subscribe to Billy's newsletter for more business and money tips Be sure to check out and register for the 7 Lever Profit System starting October 14th! It's first come first serve!  

238: Balancing Short-Term Wins With Long-Term Success In this episode of the Your Fitness Money Coach Podcast, we dive into one of the biggest challenges fitness professionals face—deciding between short-term wins and long-term success. Whether you're focused on bringing in cash flow right now or investing in something that could pay off in the future, knowing how to balance the two is key. Here's what you'll learn in this episode: How to make decisions based on your current financial situation. When to prioritize immediate cash flow vs. investing in long-term growth. My own experience of deciding whether to take a speaking course for future opportunities. If you're looking for practical advice on growing your business today while securing your financial future, this episode is packed with insights you won't want to miss. Be sure to check out and register for the 7 Lever Profit System starting October 14th!      

#237:  Calling Robert Kyasaki blunt is an understatement.  The author of Rich Dad Poor Dad argues that if 100 people were given 10K, only 4 of them would know what to do with it.  In today's show, I dive into what is suspected would happen with the other 96 and what makes the 4 so different.  I also share a story that I've never shared before of how I had a chance to find out what would happen if I were a part of this experiment.  I talk about the value of actually knowing what you would do with 10K or any sum of money. We go through some different scenarios and what some priorities might be.  One of the best (or the best) investments you can make is in yourself. It's hard to match the return you can get by enhancing your skills and adding more value to people which in turn will improve your cash flow and help you build your wealth and freedom.  ===>Join the 7 Lever Profit System to Simply Drive More Profit and Cash Into Your Business Month After Month The 7 Lever Profit System is a 7-week Program that helps you with actionable steps on the unique levers that will add profit to your bottom line and cash in your bank account. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you'd like to discuss how that might look, book a short call with me here!    P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.   

#236:  Fit Pros are generally good at tracking things.  They track sets, reps, and tempo.  When it comes to the numbers, not so much.  My goal for today's episode is to simplify what to track on the personal finance side.  Peter Drucker said what gets measured gets done.  Getting in the habit of tracking things like your net worth and savings rate can do wonders for your progress. It's similar to your clients tracking their workouts or nutrition.  Tune in to learn: What to track How to calculate it How often to track it Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you'd like to discuss how that might look, book a short call with me here!    P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.     

#235:  The Your Fitness Money Coach Podcast was started in August 2020. While it's been a ton of work, it's been one of the most rewarding things we've done.  While starting your own show might be your next move, today we're talking about a way to leverage the power of podcasts in a way that has even less of a barrier to entry - Being a podcast guest may be one of the best ways to “get your name out.” I've been a guest on countless podcasts and overall, they have had a dramatic impact on my business and bottom line.  Today's guest is an expert in this space.  Sam Brake Guia is the Co-founder of PodWritten, a podcast booking agency for health and wellness businesses, and the host of Mics to Millions, a podcast that shares interviews with top-tier hosts, insights from podcasting expert, and solo episodes to help you grow your health and wellness podcast. We discuss everything from why podcasting beats posting on social (although you don't have to stop doing that) to a step-by-step guide to getting yourself booked solid.  Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you'd like to discuss how that might look, book a short call with me here!    P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.   

#234:  Today's show was inspired by an article I saw on MSN. It was about the things Warren Buffet says broke people waste their money on.  One of the best strategies to make sure you're headed in the right direction is to figure out how you can guarantee failure.  Once you learn how to guarantee failure, avoid those things at all costs! Check out the show to learn the 10 things you'll want to be careful you're not wasting your money on.  Some of these things might be robbing you of your future! If you don't want to take it from me, take it from Warren, one of the greatest investors of all time! Here are some great quotes from Mr. Buffet: “The most important investment you can make is in yourself. That's how knowledge builds up. Like compound interest.” “I'm not prude about it, but to quite an extent, gambling is a tax on ignorance.” “Do not save what is left after spending, but spend what is left after saving.” Check out the full MSN article.  By the way, if you want to dive a little deeper and make sure your cash is flowing in the right direction, check out the Plan For Profit Workshop happening on 8/29!   Plan for Profit Workshop Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you'd like to discuss how that might look, book a short call with me here!    P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.     

#233:  Before you check out the 3 ways to improve cash flow, I wanted to make sure you knew about a special workshop we're doing on 8/29.  Plan For Profit Workshop What are some simple metrics by which to run your gym? They need to be simple because if they're not, chances are they won't get used.  In today's episode, Dam Kleckner and I dive into the important metrics and then some.  In addition to the simple numbers by which to run your gym, Dan breaks down a simple formula for generating all the leads you might need. Paid ads are great but you might want to ensure you're doing these first.  Finally, Many owners are confused about when and how to expand their business. After tuning in, you'll have some clarity around additional locations.  Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you'd like to discuss how that might look, book a short call with me here!  P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.  P.P.P.S. Sign up for the Plan For Profit Workshop here!    

#232:  Before you check out the 3 ways to improve cash flow, I wanted to make sure you knew about a special workshop we're doing on 8/29.  It's called Plan For Profit and we'll be doing exactly that! Isn't that exciting?!? I hope you'll join us for a time of learning, growing, and improving cash flow! Check out the webpage for the event or just register here! You'll receive the access info as soon as you register! I decided to focus on cash flow for a few reasons.  Once, this time of year can be tricky when it comes to cash. It can seem more is flowing out than in and it might even be the case! This is the perfect time to address the issue head-on and plan for profit! Second, it's overlooked.  Many people talk about gross revenue.  Some talk about profit.  The very best know the “magic is in the margin” and for that reason, they focus on cash.  Finally, it's fun. It's not about the money itself.  Money is not a goal. It's a tool to do the things you want.  For those reasons, check out 3 points to look at when thinking about your cash flow.  For a more in-depth look as well as guidance planning for profit, check out the workshop and sign up here  Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you need help setting up your business to help you “catch up” financially, book a short call with me here! It's closer than you think!   P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.  

#231: Feeling behind financially isn't a good feeling.  If that's the case for you, you're in good company.  Most people in this country are NOT prepared for retirement.  It's easy to believe the lie that “it's too late” or “why bother.”  I'm here to tell you that it's never too late to improve your financial situation.  Just like people can build muscle in their nineties, they can make different financial decisions to improve their future.  I'm hearing more and more stories about people who accumulated a solid nest egg without taking several decades.  I'm not going to lie and say it's going to be easy but it's worth it.  I know the feeling all too well as I was definitely a late starter.  In this episode, I share some exact steps and a framework you can use to get started TODAY! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you need help setting up your business to help you “catch up” financially, book a short call with me here! It's closer than you think! P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.    

#230 Would you rather have hundreds of thousands (maybe millions) of dollars or drive a brand new top-of-the-line car? Well, that choice might be a reality.  The average new car payment in the U.S. is now a whopping $735.  What could you do with an extra $735 each month? In today's show, we dive into the actual cost of new (or even used) car payments.  I am in no way trying to be the fun police so if driving a fancy car is important to you, do you boo.  However, if you're wondering if there might be a better way to look at cars, these concepts can be powerful.  My goal with this content is not to make it one or the other. You can have a car you enjoy AND build your desired future.  Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.    

#231                                                                     After over 200 episodes I'm doing something for the first time.  I wanted to present to you an interview I did on another podcast.  The podcast is called Profit Made Simple and the host is Daniel Henderson.  Thankfully, I've been on many industry podcasts but I wanted to share this one for 2 reasons.  First, Daniel is Australian and I'm from NY so the conversation might be entertaining just because of that.:) Seriously, we are both so passionate about finances as they relate to the fitness business that it created a unique conversation.  We tackled topics like: How to go from debt to financial freedom Common financial mistakes you'll want to avoid Actionable tips to achieve a financially healthy business How to ensure you stay Fitness Business Money Smart                                                               Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.    

#230                                                                                                                                                                               We are talking about an exciting topic, paying yourself! Doesn't that sound good? Far too many gym owners and Fit Pros are either not paying themselves consistently or not paying themselves enough.  Let's fix that.  This episode is a follow-up to #158 published on 2/28/23. In that show, we discussed: How to systematically pay yourself every month How to determine how much to pay yourself How to give yourself a raise How to balance paying yourself and investing in business growth   This installment discusses the bigger issue of adjusting your mindset to ensure you are paying yourself.  I'm pumped because I know someone's life will change as a result of this change.   Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.

#229 Travis Barnes spent 10 years behind bars and managed to get out and grow his multi-million dollar company Journey 333 to 5 locations in 5 years.  Today, along with Todd Durkin, he's developing the Impact-X franchise.  You do not want to miss this episode as it's one of the most powerful shows we've done.  It's jam-packed with lessons that will improve your life, business, and relationships.  We've all experienced adversity in our business and lives and if there is one certain thing, it's that we'll experience some more.  While learning marketing and sales techniques are great, the lessons in this podcast are much more important.  Tune in to learn: What Travis can teach us after having “lost” 10 years of his life How he moved through his “dark night of the soul” How to keep an attitude of gratitude regardless of circumstances  A sure-fire tactic to improve in ANY area of life  We'll be having Travis back for a second installment but please don't miss the gems contained in this one! Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!  P.P.S. Similar to having a good lawyer, having solid bookkeeping is crucial for long-term success. If you'd like your books taken care of so you can gain clarity and focus on what you're uniquely good at, book a call at this same link.    

#228 Today's show was inspired by a book I'm reading called Switch by Chip and Dan Heath.  Making a positive change isn't easy but there are some things we can do to help ensure our success.  One thing we know is helpful is having clarity on where we want to go.  This is worth spending some time thinking about.  As Zig Ziglar said, “If you aim at nothing you'll hit it every time.” Tune in to learn some specific examples of what a clear financial target looks like.  Learn how to avoid the most common goal-setting mistakes regarding your dough.  We also go through a quick checklist to make sure you're on track with your financial goal.  I hope this content serves as a gentle reminder to pursue a worthy goal and be able to go with the flow with whatever may come your way.  Finally, I discuss 3 ways to help ensure you stay on track. Setting a goal is one thing but as it's been said, you get paid for done!  Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!    P.P.S. If you don't have clear financial goals and a path to get there, please book a call here.    

Two areas you do not want to ignore as a gym owner are accounting and legal.  Good advice in these areas is worth their weight in gold.  It's a prime example of an ounce of prevention being worth a pound of cure. Whether you've been in business for a while or are just starting, understanding the difference between different types of business structures can be confusing and overwhelming.  For that reason, I brought Matt Becker from Gym Lawyers to answer our questions about all things legal.  Just like you shouldn't ask your dentist to fix your car, don't ask an unqualified person for legal advice.  You'll want to make sure you are setting things up properly both to protect yourself and to have the highest chance of success. Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram! Listen and grow! Your Financial Coach, Billy  P.S. If you are just starting or have been in business for a while but need a reset, book a short call with me here!  P.S. Similar to having a good lawyer, having solid bookkeeping is crucial for long-term success. If you'd like your books taken care of so you can gain clarity and focus on what you're uniquely good at, book a call at this same link.