Cash flow is important to your gym… without it your business stops. Putting in some simple systems to maintain good cash flow is essential to your business’ success.

1. Standardize how and when you collect money

Having a dozen different ways you collect money from members makes your life harder. It becomes a lot harder to manage members dues if they are all paying different amounts, at different times and by various means, eg: credit card, over the counter or internet banking.

I’m often amazed by the different arrangements of billing providers, frequency of payment and surrounding procedures.