Business Planning, Accounting and Finance for Fitness Entrepreneurs

Coursework Information 

Knowing what numbers to track, measure and monitor on a regular basis are essential skills necessary for running a successful fitness business. While fitness professionals don’t need to be certified public accountants, or have a degree in economics or finance; it is important to understand the basic underpinnings of accounting and finance. 

Business planning sets a clear roadmap to success. An extension of the business planning process is budgeting and forecasting which represent the process of creating plan for long-term success. 

Key Takeaways include:

• Understanding the difference between accounting and finance, and just as importantly, what role each plays in your success
• Knowing the essential KPIs you should be tracking and measuring on a monthly basis
• Being able to define the key elements of a business plan and the accompanying business planning process
• Preparing a budget for a fitness business

CEC/CEUs- ACE: 0.2, NASM: 0.2, AFAA: 2, ACSM: 2

Purchase the Coursework $49

Course One - Understanding KPI's, Accounting, and Finance to Start or Grow Your Business​

Learning Objectives

• Describe the difference between accounting and finance, and just as importantly, what role each plays in your success
• Understand the purpose of a balance sheet, the key financial categories that compose it and what each section means
• Craft a profit and loss statement, the key categories that compose it, and finally, how it’s used to determine the financial viability of your business
• Understand the essential KPIs you should be tracking and measuring on a monthly basis

Learning Activities

• STUDIO SUCCESS and Financial Basics
• Accounting and Finance for the Fitness Professional
• Key Performance Indicators Every Studio Operator Should Know

Course Two - The Business Planning and Budgeting Process​

Learning Objectives

• Be able to define the key elements of a business plan and the accompanying business planning process
• Describe each step in the business planning process and how it’s used
• Understand the two main approaches used in developing an annual budget and which budgeting format is most suitable for you
• Be able to prepare a budget for a fitness business
• Be able to generate a three month forecast 

Learning Activities

• Building a Business Plan and Pro Forma to Attract Investors and Drive Profitability
• The Framework for a Strategic Business Plan
• Business Planning for Fitness Professionals
• Financial Basics
• Budgeting and Forecasting for Fitness Professionals

Testing Your Knowledge

Once each course is completed, you will take a short eight question test that is designed to measure your retention of the content from the course. A score of 80% on the first test and 75% on the 2nd course test represents mastery and will result in earning the designated course CEC/CEUs.

Purchase the Coursework $49