School holidays can be tough on small business owners. Here’s how the right accountant helps you keep your fitness business running smoothly while you take some proper time off.
Balancing work and the school holidays can be tricky, especially when you want to take some time off with your family. You want to keep your business running smoothly while getting some time out.
That’s where hiring an accountant comes in.
As a small business owner, you might think you can’t afford to outsource your bookkeeping and accountancy. But the right accountant can save you time, money and stress. Here’s how.
A great accountant helps you stay on track with your finances
Regular bookkeeping is essential, however small your business. It’s the foundation for monitoring your sales, expenses, profit, cash flow and progress against your goals.
It should never be neglected.
Having an accountant on board means your finances stay on track while you’re away. Depending on what you need, that can include:
Recording and reconciling your transactions
Spotting cash flow bottlenecks and spending patterns
Keeping on top of payroll and VAT
Preparing your accounts and tax returns
So you don’t come back from holiday knowing you’ve got a VAT return to turn around in a hurry.
A great accountant gives you valuable business advice
I’m a business owner too, so I know how useful it is to have someone to talk through your goals and challenges with.
The right accountant can help you identify where you could save money, where there’s room to grow and where cash flow problems might be coming.
It’s hard to delegate when you want to know everything about your business.
But imagine the peace of mind of having a finance expert’s eyes on your business while you’re on holiday.
A great accountant helps you prioritise your workload
During the holidays, there’s always a temptation to either do nothing at all, or to keep working and miss out on time with your family.
You didn’t start your business so you could become an accountant.
Handing over the financial side helps you focus on the work that matters, and still enjoy your time off.
A great accountant saves you time and money
It’s hard to believe that paying for an accountant can save you money. But bear with me.
Handing over the tasks that aren’t your specialist area frees you up for the work you’re really meant to be doing in your business, where you get a much better return on your time.
Let’s look at a simple example. Say that freed-up time lets you take on three or four more of your ideal clients, worth £600 a month.
Where you could be each month
DO IT YOURSELF
You spend the time on your bookkeeping instead of clients.
£0
extra
HIRE AN ACCOUNTANT
£600 from new clients, minus £175 a month for your accountant.
+£425
a month
HIRE AN ACCOUNTANT AND TAKE TIME OFF
Use half the time for clients (£300) and half for a holiday, minus £175.
+£125
a month, plus time off
This is maths that makes sense.
And we haven’t even mentioned the stress it saves you. Add in the costly bookkeeping mistakes an accountant can help you avoid, and you’ll never question the value of a great accountant again.
A great accountant gives you peace of mind
Knowing a qualified accountant is looking after your finances, not just while you’re away but every day, gives you real peace of mind.
You can be confident your business finances are up to date and in good hands, so you have the information you need to make good, timely decisions.
Not just for the summer
Hiring an accountant isn’t just a good move for the summer holidays. It’s an excellent move for the life of your business.
It lets you focus on what you really need to do as a business owner, and take a proper break while everything financial happens smoothly behind the scenes.
Spend quality time with your family, and come back to your business recharged and ready for what’s next.
Let’s talk about how I can help
If you’d like to talk about how I work with fitness businesses like yours, there are two easy next steps.
LET’S CHAT
Book your free 20-minute Clarity Call
We’ll chat about your business, where you’re at and the support you need.
Free
Book a Clarity CallSEE HOW I WORK
Accountancy packages
Ongoing accountancy and financial support for fitness businesses, with three packages to choose from.
From £175 a month
View the packagesOr email me at hello@koyn.uk.
The figures in this article are a simplified example for illustration only. This article provides general information and is not personalised accounting, tax or financial advice.