Strength Studio and Fitness Business Money Management Guide

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Pete Cerqua

Personal Trainers and Strength Studio owners: are you making the most out of the money you’re earning in your fitness business so you can earn in your sleep and not worry about going bankrupt if you’re unexpectedly forced to miss a few weeks of work?

Million-dollar Trainer Pete Cerqua explains the right way to manage your financials so you can earn more money faster, minimize risks and avoid business-destroying unexpected events, how to invest it all in the right things that can support your work instead of distracting from it, and more.

If you want to build a highly profitable career as a strength trainer and studio owner while avoiding the biggest problems that can torpedo your dreams, tune in to this episode.

Disclaimer: The information shared in this podcast is for informational and educational purposes only and does not constitute financial advice. The views expressed are personal opinions and should not be considered as recommendations for your specific situation. Always consult with a qualified financial advisor before making any financial decisions.

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Show Notes

01:59 – What does it mean to “operate from a position of strength,” and how does this make you more successful?
03:21 – A lesson on being smart about money through a story about Charles Barkley and Julius Erving
05:52 – Does your strength training business have an expiry date that you don’t know about?
10:08 – If you limit the number of clients you work with in a day too much, would that hurt your business in unexpected ways?
13:18 – Are you prepared to deal with unexpected injuries and illnesses? (Building a backup plan for your business)
16:12 – Can you get into the strength training business if you’re in your already 60s? (Changing your career later in life)
18:40 – How to build your “backup plan” the smart way (and how Pete used this approach to retire rich at 50)
- 19:13 – Business Insurance
- 23:57 – Life Insurance
- 27:20 – Developing your financial portfolio
- 33:11 – Real estate
- 34:56 – Side hustles
- 42:38 – Books and speaking engagements
- 43:21 – High-risk investments and cryptocurrencies
44:08 – Other important things you need to keep in mind as a fitness business owner