Your Fitness Money Coach Podcast
The Your Fitness Money Coach Podcast motivates and teaches you to increase your profits, build wealth, and achieve your dreams while doing what you love. Billy Hofacker is your host and has over 20 years of in the trenches fitness business experience. He is the creator of the Financial Freedom For Health and Fit Pros course. Discover how you can organize your finances, pay down debt, and become financially free so you can achieve all you were destined to be. You’ll hear stories of Fit Pros like you crushing it with their business and finances, interviews with world class fitness business and financial experts, and get tons of motivation and actionable info.
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Running Profitable Hybrid Businesses with Alison K
04/15/2025
Running Profitable Hybrid Businesses with Alison K
#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: Alison’s Podcast Mini-Series on Running Profitable Retreats:
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Unlocking Success with Andrew Coates: Focus, Growth, and the Power of Not "Scaling"
04/08/2025
Unlocking Success with Andrew Coates: Focus, Growth, and the Power of Not "Scaling"
#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: 📩 Let’s connect! DM me on Instagram and let me know your biggest takeaway from today’s episode! 📅 Want help streamlining your time and finances? Please join my
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Is AI the Future of Fitness? A Real Talk with Corey Smallwood
04/01/2025
Is AI the Future of Fitness? A Real Talk with Corey Smallwood
#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 Other Resources & Links: 📩 Let’s connect! DM me on Instagram and let me know your biggest takeaway from today’s episode! 📅 Want help streamlining your time and finances? Please join my Talk soon, Billy
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How Caroline Plambeck Transformed Her Business and Now Coaches Others to Do the Same
03/25/2025
How Caroline Plambeck Transformed Her Business and Now Coaches Others to Do the Same
#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: Other Resources & Links: 📩 Let’s connect! DM me on Instagram and let me know your biggest takeaway from today’s episode! 📅 Want help streamlining your time and finances? Please join my Talk soon, Billy
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5 Pillars of Success in Fitness & Finance (That Aren’t As Sexy As You Think!)
03/18/2025
5 Pillars of Success in Fitness & Finance (That Aren’t As Sexy As You Think!)
#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 about the biggest Wealth Killer—and I’m here to share how you can avoid it! Resources & Links: 📩 Let’s connect! DM me on Instagram and let me know your biggest takeaway from today’s episode! 📅 Want help streamlining your time and finances? with me. Please join my newsletter list .
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"Are You Busy But Not Getting Anything Done?"
03/11/2025
"Are You Busy But Not Getting Anything Done?"
#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: 📩 Let’s connect! DM me on Instagram @Billyhofacker and let me know your biggest takeaway from today’s episode! 📅 Want help streamlining your time and finances? Book a free call with me. Please join my newsletter list here.
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4 Steps to More Profit: An Interview with Hailey Rowe
03/04/2025
4 Steps to More Profit: An Interview with Hailey Rowe
#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 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. 👉 Listen to the episode now! You’ll be better for it. Leave a review and let me know what part of my story resonated most with you! Additional Resources: Resources & Links: Book a with muah 📩 Stay Connected & Keep Growing: 💡 Subscribe & Leave a Review: If this episode was helpful, share it with another gym owner who needs to hear it! 📲 Follow me on Instagram and Join my
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From Glitch to Growth: How a Tech Meltdown Became a Catalyst for Resilience
02/25/2025
From Glitch to Growth: How a Tech Meltdown Became a Catalyst for Resilience
#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: 📩 Stay Connected & Keep Growing: 💡 Subscribe & Leave a Review: If this episode was helpful, share it with another gym owner who needs to hear it! 📲 Follow me on Instagram and Join my
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🚀 The Power of Urgency: How Gym Owners Can Take Action & Win
02/18/2025
🚀 The Power of Urgency: How Gym Owners Can Take Action & Win
#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. 💡 What You’ll Learn in This Episode: ✅ Why waiting too long to make decisions is costing you money. ✅ How high performers use urgency to drive momentum. ✅ The simple mindset shift that can help you take action TODAY and see results fast. ✅ A challenge for gym owners—what’s ONE decision you’ve been avoiding that you need to act on now? 🔥 Action Step: Pick one thing you’ve been putting off and set a deadline to execute. DM me on Instagram or email me with what it is—I’d love to hear from you! 📩 Stay Connected & Keep Growing: 💡 Subscribe & Leave a Review: If this episode was helpful, share it with another gym owner who needs to hear it! 📲 Follow me on Instagram and
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From Rock Bottom to Money Coach: My Story
02/11/2025
From Rock Bottom to Money Coach: My Story
#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 of Fitness Profits Book a 👉 Enjoyed this episode? Leave a review and let me know what part of my story resonated most with you!
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Separate Your Finances, Simplify Your Life
02/04/2025
Separate Your Finances, Simplify Your Life
#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 Work with Billy: Book a Connect with me on Instagram @BillyHofacker.
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"What to Do When You Can’t Pay Your Tax Bill: A Gym Owner’s Guide"
01/28/2025
"What to Do When You Can’t Pay Your Tax Bill: A Gym Owner’s Guide"
#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 Connect with me on Instagram @BillyHofacker. Grab a copy of Billy’s game-changing book, 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.
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You’re Right Where You Need to Be: Encouragement for Fitness Pros Feeling Stuck
01/21/2025
You’re Right Where You Need to Be: Encouragement for Fitness Pros Feeling Stuck
#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 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.
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3 Quick Fixes for Financial Clarity in Your Fitness Business
01/14/2025
3 Quick Fixes for Financial Clarity in Your Fitness Business
#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.
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Why Gym Owners Should Embrace a 'Winter Strategy'
01/07/2025
Why Gym Owners Should Embrace a 'Winter Strategy'
#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 Fit Profit Solutions Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker
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The 3 Financial Habits to Nail Before the New Year
12/31/2024
The 3 Financial Habits to Nail Before the New Year
#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 Fit Profit Solutions Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker
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3 Ways to Stay Financially Fit During the Holidays
12/24/2024
3 Ways to Stay Financially Fit During the Holidays
#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 Connect with Me: Website: www.yourfitnessmoneycoach.com Instagram: @BillyHofacker
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Your Year in One Word
12/17/2024
Your Year in One Word
#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. Connect with Us:
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5 Lessons Learned in 2024
12/10/2024
5 Lessons Learned in 2024
#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 Connect with Us:
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The Power of Gratitude in Business and Life
12/03/2024
The Power of Gratitude in Business and Life
#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. Connect with Us:
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3 Things To Do Before You Scale
11/26/2024
3 Things To Do Before You Scale
#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. Connect with Us:
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🎙️ Bonus: Your Exclusive Black Friday Offer Breakdown
11/25/2024
🎙️ Bonus: Your Exclusive Black Friday Offer Breakdown
#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! to grab the full breakdown of each offer. Listen now and get ready to take control of your financial future! Connect with Us:
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What To Do Financially If You're Having a Baby (or any other big change)
11/19/2024
What To Do Financially If You're Having a Baby (or any other big change)
#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: Connect with Us:
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Managing Money During Slow Seasons in Your Fitness Business
11/12/2024
Managing Money During Slow Seasons in Your Fitness Business
#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: Connect with Us:
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3 Essential Year-End Tasks for Fitness Professionals
11/05/2024
3 Essential Year-End Tasks for Fitness Professionals
#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:
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From Gym Owner to a $950K Exit: Daniel Meng's Journey
10/29/2024
From Gym Owner to a $950K Exit: Daniel Meng's Journey
#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: Connect with Daniel Meng: [email protected]
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Thinking Through Owner's Compensation For Gym Owners
10/21/2024
Thinking Through Owner's Compensation For Gym Owners
#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:
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Mastering Marketing and Mindset with Vince Gabriele
10/15/2024
Mastering Marketing and Mindset with Vince Gabriele
#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: Book a
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Profit vs. Cash Flow—Why Gym Owners Need Both to Succeed!
10/08/2024
Profit vs. Cash Flow—Why Gym Owners Need Both to Succeed!
#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: Connect with Billy: Website: www. YourFitnessMoneyCoach.com 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!
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How Public Speaking Can Transform Your Business (And Your Life)
10/02/2024
How Public Speaking Can Transform Your Business (And Your Life)
#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 Listen to for more business and money tips Be sure to check out and register for the starting October 14th! It’s first come first serve!
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