We are working up to keep this page updated daily. We aim to cover everything you need to know in terms of taxes, loans, rent, memberships, cash flow & more as it pertains to the COVID-19 crisis.
WHAT'S HAPPENED SO FAR?
A timeline of key events within the fitness industry.
Our most recent posts
Gyms Will Rebound in 2021
What a year it was. As we turn the corner into 2021, the lingering question on every gym owner’s mind is: what happens next? Will virtual workouts rule the world? Or are gym goers aching to get back into their in-person gym routine? We’re here to share the good news: the fitness industry is getting […]READ MORE
PPP Round 2.0 $$$ and More Government Help That You Deserve
No fluffy introduction here. You know the deal. If you’re here then you’re a fitness business that needs the skinny on how the new tax bill impacts your business and how to get the most upside from it. So, let me give you the need-to-know info without all the confusing details. Skip ahead to a […]READ MORE
Adding COVID-19 To Your Gym Liability Waiver
You may remember the guys over at NEXO Fitness Solutions from a previous blog post when we spoke about small changes that add up to big changes in a fitness business. They are our go-to experts for everything insurance and equipment financing, with decades of experience focused purely in the fitness industry. Today, they are […]READ MORE
PPP: Why You Shouldn’t Complete the Forgiveness Application
We’ve had several clients ask recently about the PPP loan forgiveness application. When are applications due? Have I missed the application form? Can The Fitness CPA complete it? We can understand the urge to put the rollercoaster of the Paycheck Protection Program firmly in the past. But our answers to the questions are simply: The […]READ MORE
Guest Post: Will Your Fitness Business Survive COVID-19?
Here at The Fitness CPA, we speak a lot about what it takes to be a successful fitness business owner. More often than not, the success of a gym boils down to the actions (or inactions) of its owner. If that doesn’t sit well with you, it might be worth diving in to figure out […]READ MORE
75 Questions About PPP, EIDL & Surviving COVID-19 As a Gym or Fitness Studio
We recently hosted a roundtable webinar with Club Industry over on their platform about surviving COVID-19 as a fitness business owner, which government funds to use, how to create new revenue streams and more. Since the webinar, we’ve received over 70 questions by listeners wanting more information about their own financial situations or post-COVID-19 outlooks […]READ MORE
Finally… The Paycheck Protection Program Flexibility Act (Explained)
First off, this post is about the changes to the PPP program in the Paycheck Protection Program Flexibility Act of 2020 only. If you want a full breakdown of the PPP program please check out other blogs which go into much more detail. Second, we understand you are frustrated, and the changes are two months […]READ MORE
Building a Virtual Community With Competitors… Here’s Why & How You Should Do It Now.
The COVID-19 crisis is throwing a wrench in all of our lives. Let’s be honest, it’s kicking our butts. As Jason and Greg from Thriveal mention, unless you’re in the toilet paper manufacturing business, your business is taking a wiping right now. And it’s not just our businesses, but our personal lives and mental well-being […]READ MORE
Facebook Q&A: PPP and EIDL for Fitness Businesses
We recently posted this article on Why It’s Not Too Late to Get Thousands from EIDL & PPP and got hundreds of questions and comments from our fans on Facebook. With the lack of guidance surrounding the funding EIDL & PPP – we get it. There are a lot of questions. So, we’ve listed the […]READ MORE
Recommended Youtube Videos
Aug 30, 2020
PPP: Why You Should NOT Complete the Forgiveness Application
We've had a lot of questions lately surrounding the PPP loan forgiveness application and process.
Apr 05, 2020
COVID19 Series Q&A: Government Bailouts, PPP & EIDL
Confused about the government bailout options? We get it. Watch this video for the ABCs of PPP & EIDL.
Apr 01, 2020
Coronavirus [COVID-19 Series] CARES Act Decision Matrix
On Friday, March 27th the United States government passed a $2.2 Trillion dollar stimulus package to help those affected by COVID-19. It was written to help fitness businesses like yours (and individuals) who have been shuttered during the coronavirus outbreak.
Here are more resources we recommend checking out.
COVID-19 Government and Financial Resources
Part 1. Topics: billing, staffing and member retention.
Part 2. Topics: preventing spread of the COVID-19 at your gym, virtual training options, marketing efforts.
How Suppliers Are Helping Health Clubs Through the Coronavirus Crisis