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Ready to stop surviving and start thriving?
Y’all, being a studio owner means taking on about a hundred roles at once.
But the truth is, wearing all of these hats by yourself might not be the best thing for your business.
So many studio owners end up spending way too much time in their studios, trying to be both teachers and business owners.
And while I understand that this comes from a place of passion for your modality, let’s face it.
Passion doesn’t pay the bills.
And since we’ve only got 24 hours in a day, it’s vital that you’re using your time to step into the role that your studio needs you to.
This means making sure that you have enough money to pay all of your bills, focusing on profitability, and delving deep into the organizational structure of your studio.
And in today’s episode of Ready.Aim.Empire, we’re going to be discussing just that.
In the episode, Studio Grow coach Peter Pastijn chats with studio owner Michelle Tenuta about how she made the transition from running everything herself in her studio, to becoming the leader that it needed.
Here’s what they’ll be covering:
- The trajectory of Michelle’s studio and the moment she realized that she needed to focus more on the business side of things
- A step-by-step look at how she built her first organizational chart and different questions to ask yourself when building yours
- Tips and advice for a smooth transition from you teaching the class to having one of your instructors take over
- What to consider when making decisions involving more overhead costs
- Michelle’s advice for hiring teaching and non-teaching staff
- Why you’ll want to make profitability your main focus
Tune in to learn how to systematize your studio (and save yourself time, money and energy!)
One thing many studio owners forget while they’re working hard for their clients is that to keep serving them, their business needs to be sustainable.
If you ignore your finances, refuse to update your prices when necessary, and are inconsistent with your budget, your revenue is bound to take a hit. And that could result in you not being able to serve the people that you are meant to serve anymore.
So, how do you prevent that from happening, y’all?
You have to start paying yourself, auditing your expenses, and putting systems in place to prioritize your finances (even if you’re not a numbers person).
And if you’re unsure where to begin, this is the episode for you!
Join the conversation between Studio Grow coach Michelle Tenuta and Shannon Simmons, owner of Fit For Profit, certified Profit-First professional, and Studio Grow Mastermind’s very own residential financial expert!
In this episode, we’re talking about some things boutique fitness studio owners at every stage of their business should be doing to stay on top of their numbers, empower themselves through the Profit-First system, and manage their money wisely.
Here’s what we’re talking about in this episode:
- How Shannon got involved with Profit First, and what inspired her to specialize in the fitness industry
- A look at Profit First and Why and why she recommends it so strongly for small businesses to use
- What she sees the most when implementing Profit First with her clients
- Shannon’s recommendations for studios just starting out or ones that are operating from paycheck to paycheck
- How often you should do an expense audit as a studio owner and the main metrics that owners need to look at regularly
- Ways to make reviewing your finances a part of your routine
- Shannon’s top tips on budgeting, how to find a good bookkeeper, and what to do to ensure profitability for your business
One thing many studio owners forget while they’re working hard for their clients is that to keep serving them, their business needs to be sustainable.
If you ignore your finances, refuse to update your prices when necessary, and are inconsistent with your budget, your revenue is bound to take a hit. And that could result in you not being able to serve the people that you are meant to serve anymore.
So, how do you prevent that from happening, y’all?
You have to start paying yourself, auditing your expenses, and putting systems in place to prioritize your finances (even if you’re not a numbers person).
And if you’re unsure where to begin, this is the episode for you!
Join the conversation between Studio Grow coach Michelle Tenuta and Shannon Simmons, owner of Fit For Profit, certified Profit-First professional, and Studio Grow Mastermind’s very own residential financial expert!
In this episode, we’re talking about some things boutique fitness studio owners at every stage of their business should be doing to stay on top of their numbers, empower themselves through the Profit-First system, and manage their money wisely.
Here’s what we’re talking about in this episode:
- The trajectory of Michelle’s studio and the moment she realized that she needed to focus more on the business side of things
- A step-by-step look at how she built her first organizational chart and different questions to ask yourself when building yours
- Tips and advice for a smooth transition from you teaching the class to having one of your instructors take over
- What to consider when making decisions involving more overhead costs
- Michelle’s advice for hiring teaching and non-teaching staff
- Why you’ll want to make profitability your main focus
Tune in to learn how to systematize your studio (and save yourself time, money and energy!)
With grit and gratitude,
Lisé
LINKS:
https://training.studiogrow.co/dare
https://risinggoddessfitness.com/
https://www.instagram.com/michelle.tenuta/
https://www.instagram.com/peterpastijn/
https://www.instagram.com/studiogrowco
https://www.boutiquefitnesscoalition.com/
https://www.boutiquefitnesscoalition.com/press
