How to Never Scramble Around For Cash at the Last Minute Again
This week has been all about how to get started in the fitness industry
Whether you’re recently qualified or not sure how to get started
On Monday, Karl, owner of PT mentor UK shared anything and everything you need to know to get your qualification and get started
Tuesday we had some top tips
Yesterday we shared what’s working
And today I want to talk about a foundational thing we all need to do in our business to make sure we guarantee we know how much money we will have at the start of the month ?
So let’s get started
Obviously when we start out we all think about how we can generate clients
Once we’ve got them we then start thinking about how we will charge them
Block booking, pay as you go, monthly etc.
The thing that changed everything for us – so we never had to worry about how much money we had each month
Was introducing a standing order, a direct debit or a monthly rolling system
We knew if we had 50 clients on our programme paying £100 each we were guaranteed £5000 a month ??
By doing this we knew exactly how much money we had coming in
If you know your outgoings are £7000 and you’re bringing in £5000
You know you need to find an extra 20 clients to really bump it up to where you need it to be ?
So, work this out & try to get as many people onto a monthly subscription
So you can take away the hassle of having to get them to pay each month
⬇️ ⬇️ ⬇️
There are a number of ways you can do this
1️⃣ Paypal is great & trustworthy but it does charge more than other places
2️⃣ Stripe is another option. You can send them an invoice on their first month and it saves their details so you can set up a recurring payment
3️⃣ Go-cardless is a standing order or direct debit system. They put their account number and sort code on & every month and it comes out on the date
For us, we use a mixture of Stripe & Go-cardless
That’s my foundational tip for this week ?
If you can get monthly standing orders
Without having to ask everyone individually to pay each month
This is a great help & stress relief ?
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