Accounting for Gyms and Personal Trainers
Setting up a gym or a personal training business can be hard work. Along with the usual small business compliance issues of PAYG, BAS and GST, you have to deal with maintenance of gym equipment, clients not turning up on time or at all, health and safety issues, along with any staff and sub contractors, including their payment and superannuation.
Using an accountant who understands your industry can make the difference between success and failure. The team at Hume Tax have assisted a range of personal trainers and gymnasium owners of the years through financial stages of their business. We offer you professional experience and technical knowledge of the financial industry and financial aspects that will impact you and your business.
Looking to Start Up a Personal Training Business or Gym?
When starting up a personal training business or gymnasium, there are multiple issues to consider. We can provide financial advice for your business startup, along with advising you in developing and maintaining your business financially. We can provide a checklist of expenses, broken down into categories including gym equipment, stock, signage, leasehold, and so forth. This can assist in the process of establishing your fiscal position, goals and options available to you.
Grow Your Profits
We recognise you want to grow your business, your profits and your wealth. As accountants we can prepare some ‘what if’ financial scenarios so you know your business’ best and worst case scenarios. We can help you prepare a cash flow budget and project your profit and loss for your first year of operation. Using industry benchmarks we can analyse the performance of your gym and compare it against your competitors so you know what is working in the business and what needs working on.
How We Can Help You
- Advice sale and purchase of your gym
- Advice in regard to workplace laws, employee relations and superannuation
- Wealth creation strategies
- Business and tax registrations including GST, TFN, your ABN, WorkCover and more.
- Spreadsheets and tools to list your expenses and income, cash flow budget and finance templates
- Advice for start-ups and business developments
- Bookkeeping and Payroll services
- Preparation of fiscal applications
- Tax planning strategies
- Claiming motor vehicle costs and other expenses
Running a gym and dealing with clients can be difficult and confusing enough. Our accountants take the stress off your finance management concerns. With appointments, reviews and continual support available as you need, we can help your business and profits grow into what you have dreamed of. Stress less about your finances and focus on your business by contacting us today.