Yoga/Pilates Business

[KieHugh]

Morning all,

I have been a director of a Limited Company that owns a handful of residential properties for rent - so from business governance perspective I am pretty good.

My partner and I have incorporated a company for her reformer/pilates/yoga business. Short term the goal is to teach for other people, medium term to have classes on her own whether online or in person. With the longer term goal to have her own property for classes.

To allow her to focus on teaching etc I am going to support with the business side, from invoice, finances and other admin etc. In the short term I can do this in a spreadsheet, but there will be a tipping point where this is not sustainable. It will be simple in the short term when she is only invoicing for her time and I need to ensure that payment is made. But when running own classes there will be alot more admin (and we will need to use dedicated fitness softwar - that can cover booking, payment, sending out links etc)

I think the question is - is there anyone in this space that can share any hints or tips. Or know of any good resources?

 

[Ozzy]

I'm not in the space, but reading your comment about running the finances and giving some input there - the bank you use for the business banking wi most probably provide free of charge some bookkeeping software to help you admin the finances.
I'd recommend using that rather than doing it in a spreadsheet. Start properly so it isn't inconvenient to change to doing it properly when it gets busy.

 

[KieHugh]

I'm not in the space, but reading your comment about running the finances and giving some input there - the bank you use for the business banking wi most probably provide free of charge some bookkeeping software to help you admin the finances.
I'd recommend using that rather than doing it in a spreadsheet. Start properly so it isn't inconvenient to change to doing it properly when it gets busy.

Now that thought had crossed my mind. But as a project manager, not understanding the scope or requirements will just lead to other problems down the line. I do appreciate the feedback