Get the FULL guide here: http://hubs.ly/H02-HBs0 As an owner of an affiliate gym, you're fortunate to be able to share your passion with the community you've built. You help your athletes set goals and enable them to achieve amazing things. You cheer your athletes on at competitions, and you get to network with other cool box owners. Living a dream doesn't get much better than that. However, there’s a less exciting aspect of running a box, and that’s the financial management part. If you wanted to be an accountant, you'd be sitting at a desk wearing a suit and tie. But you don't, and we can help. We talked to financial management experts, accountants and successful box owners to collect enough insight to create this comprehensive guide. In it, we'll walk you through the process of financial management, from the initial planning phase to the possible sale of your affiliate gym.

1. SIX BUILDING BLOCKS TO
FINANCIAL HEALTH FOR YOUR
AFFILIATE GYM.
06

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OVERVIEW.
As an owner of an affiliate gym, you’re fortunate to be able to share your passion with the community you’ve built. You help your
athletes set goals and enable them to achieve amazing things. You cheer your athletes on at competitions, and you get to network
with other cool box owners. Living a dream doesn’t get much better than that.
However, there’s a less exciting aspect of running a box, and that’s the financial management part. If you wanted to be an accountant,
you’d be sitting at a desk wearing a suit and tie. But you don’t, and we can help.
We talked to financial management experts, accountants and successful box owners to collect enough insight to create this
comprehensive guide. In it, we’ll walk you through the process of financial management, from the initial planning phase to the
possible sale of your affiliate gym.
CrossFit Krypton, Zen Planner customer since 2012

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BUILDING BLOCK #01
BUILDING YOUR
FOUNDATION.
We’re big fans of planning. After all, if you fail to plan, you might as well plan to fail. That’s why your
financial success starts with thorough planning and preparation. This chapter covers four key things
you should do to make sure you have a solid base from which to grow your affiliate gym’s revenue.

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BUILDING BLOCK #02
MANAGING
YOUR FINANCES.
Once you’ve finished building your foundation, it’s time to begin the process of financial management.
Financial management is a broad term that includes the day-to-day bookkeeping, as well as the
preparation of financial statements and projections.
Effective financial management will give you the information you need to know if you’re making a profit
or able to buy more equipment or hire a coach. Financial management gives you the tools to plan for the
future and make course corrections along the way if they’re needed.
Even if you plan to outsource your bookkeeping or accounting, understanding some basic principles
will help you be a better business owner. Here are the key steps to successful financial management for
your box.

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BUILDING BLOCK #03
FUNDING YOUR
BUSINESS.
Now that you understand how important cash flow is, do you think you have enough to run your
box? Financial experts say one mistake small businesses make is underestimating their necessary
cashflow. Start-up costs are often higher than planned, and it takes a while for revenue to come in
consistently. If you feel this might be a problem for your affiliate gym, it makes sense to consider
finding additional funding.
Funding is also helpful for expanding your affiliate or buying more equipment. There are many
ways to fund a business, but these stand out as the most common for affiliate gyms.

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BUILDING BLOCK #04
USING YOUR
OPERATIONAL
METRICS.
The financial reports we covered so far are common to all small businesses. They are
universal in their ability to provide a picture of a businesses’ financial health. But there’s
more to the story of your affiliate gym’s finances than the reports we talked about. Your
business also has operational metrics that help explain your cash flow or profit.

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BUILDING BLOCK #05
TAX SEASON
PREPARATION.
With all this talk of revenue and growing your box, you know there has to be a section
that talks about taxes too. Since we can’t give you detailed tax advice, we want to reiterate
what we said in the first section. No matter how tight your budget is, it’s important to hire
professionals if you aren’t completely confident in your abilities. Some mistakes are just too
costly to make.
With that said, we will share some general business tax tips with you. When in doubt
about anything, check out the IRS website. They have an entire section on tax help for sole
proprietors and small business owners like you. It’s written in easy to understand language
and presented in a helpful way.

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BUILDING BLOCK #06
EVALUATING
YOUR GYM’S
WORTH.
With all the hard work involved in opening and running an affiliate gym, it’s
natural to wonder about the value of your box. Much like any other item you
purchase, your box is an asset and can be valued as one. Here are three very
different ways that can be done.

9. Get the full version of this guide to learn
how to adopt these strategies:
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