IHRSA Financial Management Tool (FMT)
The FMT is a powerful planning and management tool we developed in partnership with IHRSA and is designed for either fitness clubs with existing internal financial expertise and resources or entrepreneurs developing a new health and fitness business.
The FMT gives your fitness club the professional edge.
- Allows your business to operate like a big business regardless of your current size.
- Ensures all important financial and business planning questions are answered as you embark on a new venture or want to grow your current health club business.
- Compares your numbers to key fitness industry benchmarks and ratios.
The FMT makes day-to-day business easy.
- Provides a simple color coded system to help you plan and manage your business.
- Provides detailed information regarding staffing by analyzing how increasing and decreasing staff affects revenues and the bottom line.
- Builds in projections on personal training revenue in the payroll worksheet.
- Projects employee benefit costs automatically as part of the full-time payroll projection.
The FMT provides a quick way to be on top of your business.
- Graphs gym memberships, revenues, expenses, and net profits automatically.
- Helps you analyze profit centers, looking at them as a business within a business, by clarifying the expenses, revenue potential, and the expected margins.
- Gives you a cash flow statement that is fully linked to the other projection worksheet and allows you to see how a change in any of your numbers will affect your cash position.
- Sets up a direct link to membership growth for specific revenues and expenses.
The FMT helps you make the right decisions and get the best financing
- Gives you solid answers regarding the feasibility of starting a fitness/sports club or developing a new profit center.
- Makes an impressive presentation and provides financiers and buyers with the information they need to decide to invest or buy your health club business.
The FMT includes:
- Financial Summary
- Projected Profit and Loss
- Balance Sheet
- Benchmarks and Ratios
- Monthly and Year-to-Date Projected to Actual Comparisons
- Net Operating Loss Carry Over
- Graphs of Annual Key Numbers
- Capital Lease
- Membership Price Averages
- Fitness and Office Equipment Costs
- Start-up Costs
- Debt and Equity Statement
- Deferred Revenue