Episodes
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#250: The holiday season is here, and it’s one of the most challenging times to stay on top of your finances. But don’t worry—I’ve got you covered! In this episode, we’re diving into three simple, actionable strategies to keep your financial fitness in check while still enjoying everything the season has to offer. You’ll learn how to manage cash flow when holiday spending is high, discover budget-friendly ways to show appreciation to your clients, and start setting yourself up for a successful Q1. Let’s make this holiday season one to celebrate—not stress over.
What You’ll Learn:
How to create a holiday spending budget and avoid post-season debt.
Creative, meaningful, and budget-friendly ways to show appreciation to your clients.
Three steps to start planning for a successful Q1 while still enjoying the holiday festivities.
Resources Mentioned:
Your Fitness Money Coach Podcast Archive
Fit Profit Solutions Consultation
Connect with Me:
Website: www.yourfitnessmoneycoach.com
Instagram: @BillyHofacker
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#249: As we near the end of 2024, it’s the perfect time to reflect on the journey we’ve taken. In this bite-sized episode, I challenge you to summarize your entire year in just one word. Why one word? Because it cuts through the noise and highlights what truly mattered to you—whether that’s growth, change, resilience, or, in my case, “Plan.”
I’ll share the thinking behind my chosen word, “Plan,” and guide you through a simple exercise to find your own. By identifying a single word that encapsulates your year, you’ll gain clarity and set a meaningful intention for the year ahead.
Key Takeaways:
Discover why honing in on one word can provide powerful clarity.
Hear why “Plan” was my word of 2024 and the impact it had on my approach to business and life.
Get prompts and ideas to help you find your own word and use it as a compass for the future.
Action Step: After listening, choose your one word for the year. Ask yourself what major theme defined 2024 for you. Then, consider how that word can influence your decisions and direction as we head into 2025.
Listen Now
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
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Episodes manquant?
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#248: As the year comes to a close, I’m reflecting on five powerful lessons that shaped my business, mindset, and overall well-being in 2024. These insights go beyond financial strategies—they’re about building a meaningful life and thriving both personally and professionally.
Key Takeaways:
Enthusiasm Makes Up For A Lot:
When you bring genuine energy and passion to what you do, you can overcome skill gaps and turn setbacks into stepping stones.
Quote: “Nothing great was ever achieved without enthusiasm.” – Ralph Waldo EmersonIt’s OK to Grieve:
Acknowledging loss and allowing yourself to feel can fuel long-term resilience. Give yourself permission to slow down, process, and come back stronger.Relationships Rule:
Your network, friendships, and mentors matter—both in business and in life. Prioritize people over transactions.Quote: “You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.” – Dale CarnegieBuild a Life:
Don’t just focus on building a business—build a life you love. Align your goals, values, and daily habits so that you enjoy the journey, not just the destination.Invest in Yourself:
Continuous learning, personal development, and self-care pay off in every area. Whether it’s taking a course, hiring a coach, or improving your health habits, investing in yourself creates lasting returnsQuote: “Investing in yourself is the best investment you will ever make.” – Robin Sharma
Listen Now
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
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#247: Gratitude isn’t just a seasonal gesture—it’s a life-changing practice that can transform your mindset, relationships, and even your business success. In this episode, I reflect on the power of thankfulness and share practical ways to incorporate gratitude into your daily life.
Here’s what you’ll hear:
How gratitude shifts your mindset and strengthens your business relationships.
My personal journey with thankfulness, including the struggles I’ve faced.
Simple but powerful strategies to express gratitude, like hand-written thank-you notes and recognizing your clients.
What gratitude means to me on a deeper level, including a reflection on faith with the quote:
“A life of gratitude to God for being saved is far more pleasing than a life based on self-righteousness over being good.” – Timothy KellerThis episode will leave you inspired to practice gratitude—not just during the holidays, but all year long.
Key Quotes:
“Feeling gratitude and not expressing it is like wrapping a present and not giving it.” – William Arthur Ward
“Recognition is the greatest motivator.” – Mary Kay Ash
“It’s not happiness that brings us gratitude. It’s gratitude that brings us happiness.” – Anonymous
Action Step: Take a moment this week to express gratitude to one client, colleague, or friend.
Listen Now
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
Instagram
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#246: Scaling your business can be thrilling, but it’s not something to rush into. In this episode, I’m sharing 3 critical steps every fitness professional should take before scaling to ensure sustainable success:
Follow the Wealth Building Plan (WBS): This 8-step guide helps you decide where to put your next dollar for maximum impact.
Focus on One Success First: Most people don’t get rich twice—don’t jump into starting another business before fully optimizing your current one.
Get Your Accounts in Order: Having clean books and clear finances is the foundation for scaling.
Plus, as a nod to the season, I’ll talk about the importance of gratitude and reflecting on your journey before moving to the next level.
Key Takeaways:
A clear plan (like the WBS) prevents financial missteps.
Scaling isn’t about speed; it’s about strategy.
Gratitude keeps you grounded as you grow.
Listen Now
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
Instagram
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#245: In this special bonus episode, I’m revealing all the details of my Black Friday offers—designed specifically for gym owners who want to take their finances to the next level. Here’s what we’re covering:
A discount on a powerful mastermind with exclusive bonuses.
A one-time Profit Booster Intensive session at a massive discount.
Fresh bookkeeping solutions to help you start 2025 strong.
Early access to the ‘Plan for Profit’ course with extra resources.
A Cyber Monday workshop to kickstart your financial plan for the year.
Don’t miss these game-changing opportunities!
👉 Click here to grab the full breakdown of each offer.
Listen now and get ready to take control of your financial future!
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
Instagram
Episode
Newsletter sign-up link
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#244:
In this episode, we explore how to navigate the financial implications of major life changes, such as having a baby or moving to a new city. Join me as I share practical tips on budgeting, financial planning, and effective communication with your partner to help you thrive during these transitions.
Key Points:
Budgeting for Change
Reevaluate your budget to accommodate new expenses.
Set priorities to distinguish between necessary and discretionary spending.
Strengthen your emergency fund to cover unexpected costs.
Financial Planning
Update your financial goals based on your new circumstances.
Review and adjust your insurance needs.
Maintain contributions to your retirement savings.
Communicating with Your Partner
Discuss financial expectations openly to reduce stress.
Align on spending and saving priorities together.
Plan for adjustments as life circumstances evolve.
Resources:
Fitness Profits Book
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
Instagram
Episode
Newsletter sign-up link
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#243: In this episode, we tackle the financial challenges that fitness business owners face during slow seasons. Join me as I share practical strategies for assessing your financial situation, generating revenue, and making smart spending decisions to help you navigate these quieter times successfully.
Key Points:
Assessing Your Current Financial Situation
Review cash flow statements to identify income and expense patterns.
Differentiate between fixed and variable costs to find potential savings.
Establish a financial buffer for peace of mind during slow months.
Strategizing Revenue Generation
Diversify income streams with online classes, merchandise, or workshops.
Create promotions and discounts to attract new and returning clients.
Implement membership retention strategies to maintain steady cash flow.
Smart Spending and Budgeting
Trim unnecessary expenses by reviewing subscriptions and contracts.
Prioritize investments that will yield future revenue growth.
Set a realistic budget that reflects the slower months while planning for growth.
Resources:
Fitness Profits Book
Connect with Us:
Book a Q&A
www.yourfitnessmoneycoach.com
Instagram
Episode
Newsletter sign-up link
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#242: In this quick episode, I share three must-do tasks to set your fitness business up for a successful new year. By focusing on your finances, tax planning, and goal setting, you’ll make sure you’re ready for what’s next. Tune in for practical, actionable tips to wrap up the year with clarity and confidence.
Key Takeaways:
Review Financial Performance: Evaluate this year’s revenue, expenses, and cash flow. Identify trends to inform your strategy for next year.
Plan for Taxes: Save on taxes by making strategic last-minute deductions, contributions, or business investments.
Set Business Goals: Define 2-3 specific goals for growth in the new year based on this year’s performance and insights.
Listen Now:
Episode
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#241: In this episode, Billy Hofacker interviews Daniel Meng, a former gym owner who sold his gym for $900K ($950K with interest). Daniel shares his inspiring journey—from his days as a college baseball player to becoming a personal trainer for celebrities like Kenny Chesney and eventually running and selling a successful fitness business.
Topics covered:
Transitioning from a private to a semi-private training facility
Key strategies for gym owners at different stages: those starting out and those ready to sell
The importance of systems, financials, and simplicity for a smooth exit
What adds value to gym evaluations and what detracts from it
How Daniel used a broker and tips for a seamless selling process
The impact of surrounding yourself with the right people
Whether you’re planning to sell your gym someday or just want to optimize your business, this episode is packed with insights that can help you run a smarter and more profitable gym.
Links and Resources:
EpisodeConnect with Daniel Meng: [email protected]
Newsletter sign-up link
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#241:In this episode, we explore the often-overlooked topic of how gym owners should compensate themselves. It's not just about taking home a paycheck—it's about creating a strategy that aligns with your personal life goals and sustains your business for the long term. Billy breaks down a practical 4-level system for owner’s compensation, starting small and building up to profit distributions. He also shares key mindset shifts gym owners need to make and how to find the right financial guidance tailored to your unique situation.
Key Takeaways:
Build Your Business Around Your Life: Start with the vision of what you want your personal life to look like and ensure your business supports that.
Adopt a Pay-Yourself-First Mentality: Break through the limiting beliefs that hold you back from paying yourself properly.
The 4-Level System:
Level 1: Start with something, no matter how small.
Level 2: Cover your bare-bones budget.
Level 3: Add a little extra for flexibility.
Level 4: Include profit distributions.
Seek Trusted Guidance: Find a mentor or coach who understands your needs, rather than offering one-size-fits-all advice.
Links & Resources:
Episode
Newsletter sign-up link
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#240: In this episode, I sit down with fitness business coach Vince Gabriele, a seasoned expert in the industry with over 20 years of experience. We cover crucial aspects of owning a fitness business, from effective marketing strategies to the importance of being “obsessed” with your customers.
Knowing Your Customers: Vince shares why being genuinely invested in your clients is a game changer for business success. He explains how to do so with his “spotting” technique. Revenue Diversification: We explore the right timing for diversifying revenue streams and how it can affect long-term stability and growth. From Consumption to Production: Discover Vince's perspective on not just consuming content but using it to create something unique for your business. Living in Reality: Vince emphasizes that successful owners must maintain a grounded view of their business situation to avoid common pitfalls. The Psychology of Ownership: We discuss how the mindset of an owner can sometimes create obstacles, referred to as "chokeholds," and how to overcome these mental blocks. Marketing Case Study: We also share some fun moments discussing Vince's experiences with Brazilian Jiu-Jitsu (BJJ) and how he would market himself, given his experience.
Key Topics Discussed:
Tune in for a blend of practical advice and engaging stories that can help you take your fitness business to the next level!
Important links:Download Vince’s book here
Book a Q&A with Billy here -
#239: In this episode, we dive into the crucial relationship between profit and cash flow for gym owners. As a financial coach and fractional CFO, I share insights on why understanding and managing both aspects is critical for long-term success. Whether you're struggling with cash flow or looking to enhance your profit margins, this episode is packed with valuable tips and strategies you can implement right away.
What You'll Learn:
The critical differences between profit and cash flow and why both matter
Tips for managing expenses effectively to improve cash flow
Ways to implement tiered membership models for increased revenue
Utilizing membership freezes or holds to maintain engagement and revenue
The benefits of encouraging clients to use high-automation payment methods
Resources Mentioned:
7 Profit Lever System
Connect with Billy:
Website: www. YourFitnessMoneyCoach.com
Instagram
Facebook
LinkedIn
Subscribe & Review: If you enjoyed this episode, please subscribe and leave a review on [Apple Podcasts, Spotify, etc.]. Your feedback helps us reach more gym owners and fitness professionals!
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#238: In this episode of Your Fitness Money Coach Podcast, I’m sharing how public speaking has completely transformed my fitness business—and how it can do the same for you. Whether you’re an entrepreneur looking to grow your business or just want to improve your communication skills, public speaking can open doors you didn’t even know existed.
In this episode, we discuss:
My personal journey from speaking rookie to confident presenter
The many ways public speaking builds authority and credibility in the fitness industry
How improving your communication skills can positively impact your client relationships
How public speaking can help you overcome fear, boost confidence, and even create new income streams
PLUS, I’m excited to announce that my friend, fitness entrepreneur and world-renowned speaker Todd Durkin, is hosting a FREE webinar to help you master the art of public speaking. If you’ve been wanting to improve your speaking skills or get started on the right foot, you won’t want to miss this!
Show Links:
Sign up for Todd Durkin’s free public speaking webinar
Listen to past episodes of Your Fitness Money Coach Podcast
Subscribe to Billy’s newsletter for more business and money tips
Be sure to check out and register for the 7 Lever Profit System starting October 14th! It’s first come first serve!
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238: Balancing Short-Term Wins With Long-Term Success
In this episode of the Your Fitness Money Coach Podcast, we dive into one of the biggest challenges fitness professionals face—deciding between short-term wins and long-term success. Whether you're focused on bringing in cash flow right now or investing in something that could pay off in the future, knowing how to balance the two is key.
Here’s what you’ll learn in this episode:
How to make decisions based on your current financial situation.
When to prioritize immediate cash flow vs. investing in long-term growth.
My own experience of deciding whether to take a speaking course for future opportunities.
If you're looking for practical advice on growing your business today while securing your financial future, this episode is packed with insights you won’t want to miss.
Be sure to check out and register for the 7 Lever Profit System starting October 14th!
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#237:
Calling Robert Kyasaki blunt is an understatement.
The author of Rich Dad Poor Dad argues that if 100 people were given 10K, only 4 of them would know what to do with it.
In today’s show, I dive into what is suspected would happen with the other 96 and what makes the 4 so different.
I also share a story that I’ve never shared before of how I had a chance to find out what would happen if I were a part of this experiment.
I talk about the value of actually knowing what you would do with 10K or any sum of money. We go through some different scenarios and what some priorities might be.
One of the best (or the best) investments you can make is in yourself. It’s hard to match the return you can get by enhancing your skills and adding more value to people which in turn will improve your cash flow and help you build your wealth and freedom.
===>Join the 7 Lever Profit System to Simply Drive More Profit and Cash Into Your Business Month After Month
The 7 Lever Profit System is a 7-week Program that helps you with actionable steps on the unique levers that will add profit to your bottom line and cash in your bank account.
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#236:
Fit Pros are generally good at tracking things.
They track sets, reps, and tempo.
When it comes to the numbers, not so much.
My goal for today’s episode is to simplify what to track on the personal finance side.
Peter Drucker said what gets measured gets done.
Getting in the habit of tracking things like your net worth and savings rate can do wonders for your progress. It’s similar to your clients tracking their workouts or nutrition.
Tune in to learn:
What to track
How to calculate it
How often to track it
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#235:
The Your Fitness Money Coach Podcast was started in August 2020. While it’s been a ton of work, it’s been one of the most rewarding things we’ve done.
While starting your own show might be your next move, today we’re talking about a way to leverage the power of podcasts in a way that has even less of a barrier to entry - Being a podcast guest may be one of the best ways to “get your name out.”
I’ve been a guest on countless podcasts and overall, they have had a dramatic impact on my business and bottom line.
Today’s guest is an expert in this space.
Sam Brake Guia is the Co-founder of PodWritten, a podcast booking agency for health and wellness businesses, and the host of Mics to Millions, a podcast that shares interviews with top-tier hosts, insights from podcasting expert, and solo episodes to help you grow your health and wellness podcast.
We discuss everything from why podcasting beats posting on social (although you don’t have to stop doing that) to a step-by-step guide to getting yourself booked solid.
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#234:
Today’s show was inspired by an article I saw on MSN. It was about the things Warren Buffet says broke people waste their money on.
One of the best strategies to make sure you’re headed in the right direction is to figure out how you can guarantee failure.
Once you learn how to guarantee failure, avoid those things at all costs!
Check out the show to learn the 10 things you’ll want to be careful you’re not wasting your money on.
Some of these things might be robbing you of your future!
If you don’t want to take it from me, take it from Warren, one of the greatest investors of all time!
Here are some great quotes from Mr. Buffet:
“The most important investment you can make is in yourself. That’s how knowledge builds up. Like compound interest.”
“I’m not prude about it, but to quite an extent, gambling is a tax on ignorance.”
“Do not save what is left after spending, but spend what is left after saving.”
Check out the full MSN article.
By the way, if you want to dive a little deeper and make sure your cash is flowing in the right direction, check out the Plan For Profit Workshop happening on 8/29!
Plan for Profit Workshop
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
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#233:
Before you check out the 3 ways to improve cash flow, I wanted to make sure you knew about a special workshop we’re doing on 8/29.
Plan For Profit Workshop
What are some simple metrics by which to run your gym?
They need to be simple because if they’re not, chances are they won’t get used.
In today’s episode, Dam Kleckner and I dive into the important metrics and then some.
In addition to the simple numbers by which to run your gym, Dan breaks down a simple formula for generating all the leads you might need. Paid ads are great but you might want to ensure you’re doing these first.
Finally, Many owners are confused about when and how to expand their business. After tuning in, you’ll have some clarity around additional locations.
Listen to this episode, apply what you learn, and teach it to others. By the way, be sure to connect with me on Instagram!
Listen and grow!
Your Financial Coach,
Billy
P.S. Are you looking to gain clarity around your finances and a clear path to grow and reach your financial goals? If so, a Fractional CFO might be exactly what you need. If you’d like to discuss how that might look, book a short call with me here!
P.P.S. Want to read how I completely turned my finances around? Get a free copy of my book Fitness Profits.
P.P.P.S. Sign up for the Plan For Profit Workshop here!
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