Should You Incorporate Your Fitness Business?

Hey there, hope you are doing great!

My friend and mentor Joe Dowdell found this website that helps people incorporate fast and easily, this is something that I think many trainers can benefit from.  Full disclosure, I did not use this website to incorporate, but it seems pretty legit and helpful with video tutorials and other business tools like trademark search etc.  I am incorporated my personal training business under Dynamic Results, Inc back in 2006 and it has helped my fitness business grow tremendously!  If you are not sure if you are ready to incorporate, check out this post on the business of personal training.

Are You Serious About Creating a Career in the Fitness Industry?

If the answer is yes, and you have been in the fitness industry for a few years, you may want to consider incorporating.  PLEASE be sure to do your homework first, each state has different laws, and research which kind of corporation would be best for you in regards to your taxes and business goals (and be sure to consult your accountant or a friend in accounting if you have one, and your lawyer or a friend that is a lawyer too!)

There are some major benefits to incorporating, again it varies, but some common ones are:

1. Pay less taxes!


2. Show people/potential clients, and corporate clients you are a serious business.


3. Limit your own financial liability.

Of course, there is an up front cost to incorporate, so make sure your personal training business is profitable already, and then save up some of the profits and reinvest your money in creating a corporation.

S-Corp Versus LLC

Here is another link on choosing a business structure: Choosing a Corporate Structure And a link to their free tool, to search for a corporate name to make sure your top choice is not already being used: Free Corporate Name Search And a cool report on "DBA's": DBA Report *Take your time naming your fitness business, the shorter, more catchy, and more accurately descriptive the better.  Who is your niches?  Who are you trying to help?  Start with your ideal client in mind and work backward from that.

Believe in the Power of Small Business

Small businesses like ours have the ability to really make a difference and help transform the world.  Many of the problems we see in the world today are due to a few huge corporations who have tremendous influence and act to only benefit themselves and their bottom line, regardless of how their actions effect others.  If we are to compete, we need many more small businesses to pick up the slack of these "too big to fail" companies and governments, to leverage the benefits of being a corporation while building healthy relationship and making a difference in our own communities. If you are not sure now is the right time to incorporate, let us know your concerns or questions in the comments below and we will be sure to get back to you. Until next time, keep your business fit. Johnny Fitness