Built To Grow

Every gym owner should be getting and reviewing their P&Ls regularly to gauge the status of their business.A P&L statement is a financial statement that summarizes a business’s income and expenses for a given period. It can be monthly, quarterly, or yearly.It includes revenue from memberships and products, operating expenses, and non-operating income. Understanding the numbers on the P&L can help gym owners more accurately assess the financial health of their business.It’s rare in the gym business to see any gym owner share their P&Ls, but in this episode, Tim and Randy do exactly that.The proof of the pudding is in the eating - The reason for sharing the P&L is to show gym owners that what they teach here in the podcast and in the coaching programs is actually something that is happening.Tune in to hear about the P&L numbers from Tim’s gym and how to build a million-dollar gym business!Key Takeaways- The importance of reviewing your P&L (00:43)- The average profit of a gym (02:41)