This summer I was fortunate enough to take an internship with XIP Training Systems, LLC and take over the head of marketing role while the current HOM was out on maternity leave. Through this experience I have learned a great deal that gives real life experience to the business degree that I am working towards. I have learned the ins and outs of XIP and what is needed in order for this business to run successfully. Not only have I learned about XIP specifically but I have gained the first hand knowledge of what it takes to run a small business first hand, with this came a few surprises.
What I did not realize is the extensive financial burden that running a gym entails. Pete Dupuis is a gym owner who is “one of the few fitness professionals who identifies specifically as a ‘business guy.’” I took a particular interest in Pete’s blog as I found the business side of things interesting while finding practical use for my internship from its relation to running a gym. His blog post from June 22: Taxes, Fees & Expenses Not Included - Budgeting For Gym Ownership - detailed all of the expenses and technicalities necessary that one may overlook when considering opening a gym. There are so many different factors that you do not initially think about when opening a business- property taxes if you own, workers comp, property insurance, liability insurance, equipment loans or mortgage, just to name a few - all things I had never even considered! This article gave me a new appreciation and insight for what XIP Owner and Founder Adrian Guyer does here at XIP. Not only is he a great coach and trainer to all of the clients and athletes that train here but he is also able to run a successful business, which means he has to take on a variety of roles such as marketer, team leader, writer, finance expert (and the reason he got into the business in the first place) a trainer and coach who is always improving his craft.
Both Pete and Adrian have shown me what is necessary to run your own successful business and how much goes into it. Coming into this internship I was expecting to learn whether the marketing concentration was the right choice to pair with my business degree but I am learning so much more than marketing. I am learning about what it takes to run a small business and that is more than I ever expected. My long term goal is to open a healthy bakery and restaurant. This goal ties together my business degree, my love for cooking and my love for nutrition- it has always been a dream of mine. After reading Pete Dupuis’s blog and seeing first hand what Coach Guyer has on his plate with this small business it has made me more cautious in my dream. This does not by any means mean that I am giving it up, however I am more realistic in my goals of how I will approach it, plan for it and what to expect from it. I have a newfound appreciation for small business owners and hope to one day be able to call myself one of them as well! If you are interested in reading Pete Dupuis blog (I highly recommend you do) on budgeting for gym ownership, click here.