ACCOUNTANCY FOR PERSONAL TRAINERS
Specialist accountant for personal trainers
Being a great personal trainer and running a financially healthy business are two very different things.
Between training clients, programming, marketing and actually having a life outside work, keeping on top of your accounts, tax and finances can easily end up at the bottom of the list.
But knowing what you’re earning, what you’re spending and what you’re actually making matters if you want your PT business to pay you properly.
At Koyn, I specialise in accountancy for personal trainers and fitness businesses across the UK, helping you get the financial side of your business right and understand the numbers behind your coaching.
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Your income isn’t the same as your profit
It’s easy to look at what your clients have paid you that month and think that’s what you’ve made.
But then there’s gym rent, software, insurance, equipment, marketing, professional fees and all the other costs that come with running your business.
And if you’re self-employed, you need to remember that some of the money sitting in your bank account needs to be put aside for tax too.
Understanding what’s left after all of that gives you a much better picture of how your PT business is actually performing.
Because being fully booked doesn’t automatically mean you’re making the money you want to make.
Know what your PT business needs to earn
- How much do you need to bring in each month to cover your business costs?
- How much do you need to put aside for tax?
- What do you actually want to earn from the business?
- Are your prices high enough to make that possible?
- And how many clients or sessions does that mean you actually need?
These are much more useful questions than simply asking how much turnover you made last month.
I’ll help you understand the numbers behind your PT business, so you know what it needs to earn for the business to work for you.
More than just your year-end accounts
Of course, I’ll make sure the accountancy side of your business is taken care of.
But your finances shouldn’t be something you only think about when your Self Assessment or year-end accounts are due.
Your accounts tell us what’s already happened. I want your numbers to help you plan ahead too.
Depending on the level of support you need, that could mean looking at:
- What you’re actually making after your business costs
- What you should be putting aside for tax
- Your pricing and what you need to earn
- Your business expenses
- Cash flow
- Paying yourself
- Planning ahead for tax and VAT
- Whether you can afford to invest in the business
- What the numbers need to look like as your business grows
Accountancy support for your PT business
Not every personal trainer needs the same level of financial support.
If your business is established and you want the accountancy side taken care of properly, Koyn has three levels of ongoing support.
Foundation
For getting the financial foundations right.
From £175 per month
Performance
For understanding your numbers throughout the year and making more informed decisions.
From £350 per month
Performance+
For established PT businesses that want regular financial planning, forecasting and strategic support as the business grows.
From £600 per month
DOWNLOADABLE GUIDE
Self-employed and doing your own Self Assessment?
If you’re earlier in your PT business, you might not need an accountant yet.
But you still need to understand your responsibilities, keep the right information and know what you need to do when it comes to your tax.
Self Assessment Made Simple is a practical downloadable guide for self-employed personal trainers, fitness coaches and fitness instructors. It’s designed to help you understand what you need to do, what you need to keep track of and feel more prepared when it’s time to complete your Self Assessment.
Explore Self Assessment Made SimpleLooking for an accountant who understands your PT business?
Whether you’re looking for a new accountant, want more support with your numbers or you’re not quite sure whether you need an accountant yet, let’s have a chat.
Tell me a little about your PT business, where you are now and where you’d like to take it, and we’ll work out the right next step.
Book a Clarity Call