Your Fitness Money Coach Podcast - Helping Gym Owners Build Profitable Businesses

Billy Hofacker
  • 5.0 (108)
  • Business
  • Updated Weekly

You opened your gym to change lives — not to live paycheck to paycheck. The Your Fitness Money Coach Podcast helps you master the money side of your business so you can take home more, stress less, and finally build the life you envisioned. I'm Billy Hofacker, your host. After 20+ years in the trenches of the fitness industry and paying off nearly $500K in debt, I've helped hundreds of fitness professionals get financially free. In each episode, you'll hear real stories of fit pros winning with money, actionable strategies to increase profits and build wealth, and inspiration to keep going on your own path to financial freedom.

  1. 5h ago

    Joe Meglio on Starting Small and Building a Focused Fitness Business (Part 1)

    #339 Billy talks with Joe Meglio, founder and CEO of Game Changer Fitness in New Jersey, about how he grew from a roughly 500-square-foot training space inside a baseball facility into a thriving multi-location business. Joe shares the lessons behind that growth, including why starting small can help you prove your concept, how to decide which market to serve, and why staying focused is often more valuable than constantly adding new programs or revenue streams. The conversation also explores the difficult decisions entrepreneurs face as they grow, when to walk away from a declining program, how to avoid shiny-object syndrome, and how frameworks like EOS and Vivid Vision can help clarify where the business is going. In this episode How Joe got started in fitness after playing college baseball The early days of Game Changer Fitness in a 500-square-foot space Why proving your concept before expanding can reduce risk The challenges of moving from a small facility to a much larger one Whether fitness businesses should focus on one market or serve multiple audiences How to recognize when additional programs become distractions Why your background, relationships, and skill set should influence your starting point The decision to step away from business consulting and other competing priorities How to know when it is time to cut a program that no longer supports your main goal Using EOS, Vivid Vision, and other frameworks to create clarity Why entrepreneurs need to stay focused on the business they are actually trying to build Important Links: Follow Joe here Game Changer Fitness DM Billy for help

  2. Sep 8

    Sara Kooperman on Building Fitness Businesses, Learning from Mistakes, and Leading with Systems - Part 2

    #338 In Part 2, Sara Kooperman shares the leadership lessons she learned while building a large fitness business and managing a long-term team. She explains why hiring slowly, setting clear expectations, and correcting mistakes are essential to building a healthy culture. Sara also shares how she learned to take ownership, create psychological safety, and recognize when her own energy or mood could affect a difficult conversation. In this episode, Sara discusses: Why leaders should aim for respect, not universal approval How to spot red flags during hiring and onboarding Why communication skills matter from the very first email How staff feedback can reveal problems an owner may not see The difference between accountability and creating fear Why leaders need to admit their own mistakes How "learnings" can turn mistakes into better systems The importance of matching your leadership style to each employee How to know when you are not in the right state of mind for a difficult conversation Why one genuine compliment can strengthen team culture How personal fitness and downtime help leaders stay effective Why asking front-line employees for their opinions can improve decisions What Sara is building next in the fitness and Pilates space Key takeaway A strong culture does not come from avoiding mistakes or trying to make everyone happy. It comes from clear standards, honest communication, accountability, and creating enough trust for people to learn when things go wrong. Learn more about Sarah: www.SaraKooperman.com Get some Goodies from Billy: www.yourfitnessmoneycoach.com/resources

  3. Sep 1

    Sara Kooperman on Building Fitness Businesses, Learning from Mistakes, and Leading with Systems - Part 1

    #337 Billy interviews fitness industry leader Sara Kooperman, CEO of SCW and Water in Motion, about how she built her career from dance into entrepreneurship, education, and event leadership. They also dig into the real-world business lessons that matter most for gym and studio owners, especially around hiring, legal protection, systems, and leadership. Sara shares practical advice from decades of building and fixing businesses, plus the mindset that keeps her growing. Key topics Billy introduces Sara Kooperman as a fitness icon, CEO of SCW and Water in Motion, a Fitness Hall of Fame inductee, and a major speaker and presenter in the industry. Sara tells the origin story of her career, starting with dance, a foot injury in high school, and rehab before eventually dancing in college and joining a dance company. She explains how teaching became her real passion, and why she prefers being behind the scenes, building events and finding talent, rather than being the center of attention. Sara talks about the importance of listening to yourself and finding people who believe in you, especially when your path does not match the traditional one expected by family or society. She describes herself as a serial entrepreneur and shares how that mindset led her from one fitness idea to multiple businesses, including SCW, Water in Motion, SEET, and an upcoming reformer program. Sara stresses that entrepreneurship means failing early and often, then treating mistakes as learning instead of quitting. She shares a painful early business lesson: being $450,000 in debt after hiring the wrong sales team for Water in Motion, then rebuilding the company by fixing the structure. She gives practical advice on borrowing money and building trust with bankers slowly over time by starting small, paying loans back, and proving reliability. Sara recommends using worst-case and best-case scenario planning before making expansion decisions, especially for gym and studio owners. She emphasizes systems, organization, and surrounding yourself with people who compensate for your weaknesses, especially if you are not naturally neat or structured. Billy and Sara discuss the legal side of business, including waivers, informed consent forms, physician notes, leases, and personal guarantees. Learn more about Sara: www.SaraKooperman.com Get some Goodies from Billy: www.yourfitnessmoneycoach.com/resources

  4. Aug 25

    The 5 Jobs of Profit

    #336 This bite-sized solo episode explains why profit should not be treated as one pile of money to spend at will. Billy shares a simple framework for assigning every dollar of profit a purpose, so business owners can avoid tax surprises, manage debt, build reserves, and grow with more control. He uses a real-life tax bill as the trigger for the discussion and breaks the topic into five practical jobs of profit that matter for any business owner, especially gym owners. Key topics In this episode, Billy introduces the "jobs of profit" framework and explains why profit needs to be divided intentionally instead of paid out immediately. Taxes come first - Billy says the IRS effectively gets paid before the owner does, so set aside a percentage of each dollar of profit in a separate tax savings account. Owner distributions are a legitimate use of profit - after paying yourself a reasonable operating salary, some profit can be taken as an owner draw or distribution. Sinking funds help cover large purchases - instead of relying on debt for equipment or other major expenses, profit can be reserved over time for future needs. Debt repayment is not a business expense - principal payments come from after-tax profit, so a business that only breaks even may still not have enough cash to service debt. A cushion creates margin and flexibility - Billy recommends aiming for roughly three months of operating expenses to protect against slow months and surprise costs. Profit can fund intentional growth - with reserves in place, businesses can expand locations, hire staff, add programs, or seize opportunities without scrambling. The main warning: Billy says many owners make the mistake of giving profit only one job, usually owner pay, which leaves them exposed on taxes, debt, and future expenses. Notable quotes "Profit has different jobs." "The IRS is the epitome of pay yourself first." "Be greedy when other people are fearful." Take the Gym Owner Financial Health Check, which will show you exactly where you need to focus.

  5. Aug 18

    Three Keys to a Resilient Money Mindset

    #335 Billy shares a bite-sized episode on building a resilient mindset around money, success, and daily decision-making. The focus is on what actually changes behavior: gratitude, discomfort, and willingness to risk rejection. He also makes it clear this is a work in progress, not a polished "I've mastered it" lecture. Key topics In this episode, Billy explains why mindset matters more than tactics when the issue is really follow-through, not knowledge. He frames gratitude as a practical discipline, not just a nice feeling, and says appreciation improves perspective, creativity, and relationships. Billy shares a personal example about moving into a dream house and still feeling discontent within minutes, showing how quickly expectations reset. He distinguishes healthy drive from harmful discontent, arguing that ambition and gratitude have to coexist. He recommends a family gratitude practice: at breakfast, everyone names three things they're grateful for. Billy says comparing yourself to other people is usually a losing game because their circumstances, goals, strengths, and constraints are different. The second key is getting slightly outside your comfort zone, which he applies to jujitsu, sales, money habits, and pricing decisions. He suggests small, repeatable discomforts such as asking harder sales questions, reviewing financial statements for 10 minutes, or raising prices slightly. The third key is setting failure goals, meaning goals that require more risk, more noes, and more creativity. Billy uses examples from business development, public speaking, and launching offers to show how aiming for rejection can produce better results. He references the idea of impossible goals, where a bigger target forces you to redesign your strategy instead of repeating the same habits. Notable quotes "Too much, and you won't do it. Too little and you won't grow." "Set failure goals." "We're all on our own path."

  6. Aug 11

    Three Questions from SCW: Training, Messaging, and Professionalizing Your Business

    #334 Billy answers three listener questions from a recent SCW event in Atlanta, all from female fitness entrepreneurs facing different business decisions. The episode matters because each question gets at a core business issue: how to change your model without losing money, how to validate an offer before going all in, and how to turn a high-paying job into a real business. In this episode: Billy breaks down how to decide whether to leave the floor or reduce one-on-one training hours by running the numbers first. He explains why a gradual transition is usually safer than an all-or-nothing move when shifting from private training to other models. He shares why "proof of concept" matters before investing in a facility, especially when the offer may work online or in a hybrid format. He emphasizes the importance of clear messaging and a specific offer, rather than trying to help everybody. He walks through what it takes to move from "I'm making money" to "I run a business," including separate finances, goals, and accountability. He stresses that knowing what you want is part of the decision, not just what will make the most money. He uses simple math examples to show how changing pricing, trainer splits, and session volume affects income. He challenges listeners to use plain language when describing what they do instead of industry jargon. He encourages business owners to work on the business, not just in it, and to build wealth outside the business too. Key frameworks: Know your numbers before changing your model Gradual transition instead of all-or-nothing change Proof of concept before overhead Message and offer clarity Separate business and personal finances Professional-level effort for professional-level results To send in a question for Billy, contact him through www.yourfitnessmoneycoach.com or through Instagram.

  7. Aug 4

    The Art of Spending in the Fitness Business

    #333 In this bite-sized episode, Billy shares a practical framework for thinking about spending in your business using ideas inspired by The Art of Spending by Morgan Housel. The big takeaway: money decisions are emotional first, logical second. That's true for your clients, and it's true for you too. We walk through three questions to help you evaluate spending more clearly: Is this an expense or an investment? Is it aligned with the vision and values of the business? Am I thinking long term? I explain why it's important not to underspend in the wrong places, especially on people and marketing, while also avoiding wasteful spending that doesn't create return. I share real-world examples from gym owners, coaching, software, and automations to show how these decisions play out in practice. I also make the case that not every expense has to be perfect on paper. Sometimes spending is worth it because it saves time, reduces stress, or protects flexibility in the future. If you want to make better financial decisions in your business, this episode gives you a simple but powerful way to think it through. Key Takeaways Spending is emotional, even when it feels strategic. People and marketing are two areas where underinvesting can hurt growth. Some software and subscriptions quietly drain profit over time. The right spending should align with your business vision and values. Long-term thinking helps prevent emotionally driven mistakes. Mentioned in This Episode The Art of Spending by Morgan Housel A calculator/resource from Naamly to evaluate savings and profitability Forecasting and cash flow planning as decision-making tools Quote to Remember "Is this an expense or an investment?" Listener Challenge Take one current business expense and run it through these three questions: Is it an expense or an investment? Does it align with my vision and values? Am I thinking long term?

  8. Jul 28

    Essential Tax Strategies for Gym Owners: Avoid Costly Mistakes and Boost Profitability.

    #332 In this episode, Billy shares practical insights on managing taxes effectively for gym owners and fitness entrepreneurs. Learn how proper bookkeeping, strategic planning, and understanding deductions can save you thousands and set your business up for sustained success. Key topics covered: The story of a gym owner with a six-figure tax bill due to neglected filings The importance of regular bookkeeping and maintaining accurate financial records Why waiting until tax season to start planning is a costly mistake The risks of commingling personal and business finances How to focus on profitability rather than chasing every deduction Strategies to get current on back taxes and avoid penalties Practical steps: setting up a separate tax savings account, reviewing entity structures, and planning retirement contributions Understanding how taxes relate to business KPIs and overall profitability The danger of buying assets solely for tax deductions without considering cash flow impact The value of working with your accountant throughout the year, not just at tax time Resources: Your Fitness Money Coach Connect with Billy: IG Website contact form Stay ahead of costly tax mistakes. Implement these strategies today to improve your profitability and peace of mind.

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5
out of 5
108 Ratings

About

You opened your gym to change lives — not to live paycheck to paycheck. The Your Fitness Money Coach Podcast helps you master the money side of your business so you can take home more, stress less, and finally build the life you envisioned. I'm Billy Hofacker, your host. After 20+ years in the trenches of the fitness industry and paying off nearly $500K in debt, I've helped hundreds of fitness professionals get financially free. In each episode, you'll hear real stories of fit pros winning with money, actionable strategies to increase profits and build wealth, and inspiration to keep going on your own path to financial freedom.

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