In today’s episode, Tim addresses gym owners about the realities of owning a gym. Many gym owners open a gym with high hopes and ambitions of getting rich from owning a gym. However, Tim gets honest with gym owners and advises them that owning a single brick and mortar gym won’t make you tons of cash.
A single location may give you a good life, you’ll get to pay yourself well, and even enjoy what you do, something many people don’t ever achieve. You can do pretty well with multiple locations, but you’ll have to contend with challenges such as managing the staff, which can be a pain in our industry.
Having said that, gym owners can create multiple sources of income by diversifying their investments. You don’t have to open another gym, you could leverage your knowledge of owning a gym to other businesses, you could venture into real estate, stocks, etc.
Tune in to this episode to learn more from Tim about how you can diversify into multiple sources of income from other things.
Key Takeaways
Additional Resources:
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If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit
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You can find out more about Tim and the strategies covered in this episode by checking out our website.
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