As a physical therapist, I wanted to make people feel better. When I got certified in Pilates, I knew that the two of those services went well together… and I began dreaming about what it would mean to start my own Pilates and physical therapy studio.
That was in 2007, and since then, I have built a multi-million dollar Pilates studio business with multiple locations. But it wasn’t like I went from “I want to start my own studio!” to “a million dollars in revenue” overnight. It also wasn’t an easy road, trying to figure out everything that went into growing a successful business.
Starting a business to help people didn’t prepare me for all the terms and systems I needed to understand. There was the whole pricing problem, figuring out my income and expenses, understanding lease agreements, hiring instructors… it felt like a lot. And it was a lot! But I didn’t let that stop me, and I don’t want it to stop you.
That’s why I’m sharing the two basic areas you need to focus on for your business growth: your operations and your finances.
I’m betting you realized running a business is more work than serving the people who come to your business. You have to think about client or patient intake forms, scheduling, marketing… the whole shebang.
If you’re feeling overwhelmed by all the things you have to do to operate a successful business, let’s focus on just four areas:
Hopefully these questions will help you see what foundational improvements you can make to your business operations — without getting too complicated. You can fix most of these things for free or very low cost!
I know many studio owners and cash-based practitioners are still in the “growth” phase of their business — which means they’re not even paying themselves much, if at all. They also feel like they’re constantly making mistakes about their finances, and don’t understand the complicated terms accountants and financial pros may throw around.
Let’s simplify that, OK? Here are some basic financial terms and needs that can help you feel better about your business.
Hopefully these basics help you feel a bit more focused and in control. I know that they’re not the only questions you have about finances and operations. If you want to dig deeper into everything I covered above — or you have specific questions about your business finances and operations — check out my FREE masterclass training.
You can access this training any time and watch it anywhere — totally free! We’ll help you understand the basic metrics, operations, and finances you need to confidently grow and run your business. Don’t worry — we’ll cover only what you need to know, and explain it in ways that actually make sense (no accountant talk).
Plus, you will get a chance to learn from me and my Head of Operations and Finance, Steve Moore. Access this free Profits & Process Masterclass here.