Profit First for Microgryms: A System for Healthy Cash Flow

by John Briggs

What if you never had to worry about having enough cash to pay your team members? What if you took home a regular paycheck from your gym? What if you really could help people get healthy AND earn that retirement-worthy windfall? You are already physically fit. Now it s time to get to financially fit. Too many gym owners use their love of fitness as an excuse not to focus on money. The problem is, when they put profitability on the backburner, most of them end up closing their gym doors. In his new book, Profit First for Microgyms, John Briggs adapts the simple cash flow method revealed in Mike Michalowicz s bestselling book, Profit First, to help you become profitable from your very next deposit. Using humor and true stories about his clients and his own microgym, Briggs offers a step-by-step plan to help transform your microgym into a profitable business that is worthy of the legacy you want to leave behind.

210 pages, Kindle Edition

Published January 2, 2020

Reviews

[Mike · Rating 3 out of 5]

Profit First for Microgyms is a book that expands on the original Profit First concept and applies it to the boutique fitness industry. The book is speaking to independent gym owners, but the vast majority of it references CrossFit.

This book interested me for two reasons... 1. I've read the original and am very familiar with Profit First as a concept 2. I coach business owners in the fitness industry. If you own a fitness business and have not read the original book, I think this is a fine starting place. The explanations are sound. If you've read the original book and own a fitness business, I'd only recommend this book if your understanding of accounting and cash flow management are very elementary. The first two chapters of the book are almost a complete waste of time. That waste of time stretches to the first half of the book if you have read the original book. However, when it starts to get good... It starts to get very good.

I think this book had a good amount of value but was packed with fluff. It could have been about 80 pages and been just as good. So my recommendation is to read it if you're a fitness entrepreneur (mainly location-based business) that has not read the first one.

[Andrew Boimila · Rating 5 out of 5]

Great book. I read the original Profit First, which is still a great book, however a lot of it felt over my head and difficult for me to grasp. I get it though Mike was speaking to a larger crowd and had to try and distill the information into something everyone could digest.

What John does is bring the concepts of Profit First to the microgym world, uses terminology we understand, and outlines principals that fit our business model. What this all means is that it is much more relatable and way easier to implement.

[Corian · Rating 5 out of 5]

Great system!

This book was a great read. It was easy to follow and understand. I liked that lots of it really hit home and made it real in the sense that my business partner was doing many of the mistakes that were described. Since I’ve taken over finances, I’ve been able to manage my cash flow better, and understand where money needs to be allocated! Because I have money going to different accounts for their need, I am also able to quickly decide if something can be purchased or not! This is a game changer for me and I had no previous accounting knowledge.

[Peter · Rating 4 out of 5]

Great systems. Some items seem breezed over. Can be just as much a manuel, then a book.

[Tomasz Przewoźnik · Rating 4 out of 5]

I like the concept but the book should be 100-150 pages shorter and it would be much better.
Just skip the first few paragraphs of each chapter.