 Hey, what's up coach? Welcome back to my channel Hope you've been enjoying the last couple months of content put out put out a ton of new videos here Today is a question. I see every single day Coach has always asked me when should I start paying rent? For a facility. All right, we're gonna get straight into it after the intro All right, this is a great question a lot of people asked me and what I want to do is I want you to critically think while I'm You know going through everything in this video. I want you to take out a Pan a notepad and I want you to take notes because if you do this then you won't have to ask yourself this question anymore All right, so here's a couple of things you need to think about number one Do you already have enough clients to? Match whatever the overhead of the facility is all right reason why I start with that is because a lot of people when they reach Out to me. They'll be like hey, I want to have a facility. I want to do this I want to do that and then when I asked them how many clients they have they're like well I don't I don't have a business yet And I'm like well, why would you go take on that risk of paying? You know two thousand to five thousand dollars a month for a facility if you don't have clients yet So we need to have clients. We need to have cash flow. Otherwise, you're gonna have to go get it like a loan Which you know getting a loan isn't terrible, but that puts way more pressure on you if you don't have clients So a lot of coaches they jump the gun on getting facility because they don't have clients yet All right, so you need clients and I always suggest which is the second thing I always suggest starting in a small space and outgrowing that space So when I say outgrow that means you have too many clients in that space now So now we can take those too many clients and put them in a bigger space So there's so many different ways you can do that There's a lot of coaches that I work with right now They will rent out from schools. They'll run out from churches. They'll rent out from YMCA's They'll rent out from smaller organizations I mean they could rent out from so many different places and have like one court or one spot of where they're doing it and Once they gain more clients once they gain more confidence then they can move into something that's bigger All right. That's the second thing the third thing is If you are Paying rent for a facility or if you own a facility There are two different things a lot of people don't know that right? So if you own your facility Like you have so many more options you can rent you can lease that out to people who can pay you So that can pay down like a lot of the overhead every single month So you're thinking more in terms of being a business owner an operator not just using it just for your business Right if you're leasing out space from you know, maybe you're on a three to five year lease something like that like You should be able to have unlimited access to that space All right So this comes down to understanding the terms and the agreement that you have between you and the landlord All right. These are little details. So many coaches don't look at they don't think about When they think about getting a space, but you should actively look for paying you should be Looking to pay for rent when your business is ready to do that Right is why I always tell every single coach that ever comes across me Like if you were talking to me on a zoom call, I would tell you I Don't try to put yourself in a stressful position if you don't have the clients yet Right. So this is why you have to focus on getting clients and getting enough clients getting enough cash Though like your business should be operating like a real business before you move in a facility Because moving into facilities actually going to hurt your business if your business is not properly set up, right? So I hope that helps if your coach watching this and you have questions about that They may be you're in a spot of transitioning into facility and you want to chat with me. I How do you recommend get on a call with me? I'm more than willing to help I can talk with you for 15 to 20 minutes. I don't talk to anyone over the phone. It's all on zoom Every single day since I've been offering this I've talked to multiple coaches every day coaches that watch my youtube videos or coaches that are my newsletter So more than happy to chat with you if we haven't talked before If you want to get on a call with me, you'll see here. It's very easy to get in touch with me Right above me text me at that phone number. It's also in the description Under this video get in touch with me there if you get in touch with me between Monday through Friday I will get back to you if you text me on the weekend. I'll get back to you on Monday. All right That's it for today's video. I hope this helps and I'll be chatting with you soon