from Human Resources

QUESTION: As the holidays are approaching, we are looking for ideas for employee gifts. If we give gift cards or gift certificates, will they be taxable to the employee? What about hams and turkeys? ANSWER: Anything that equates to giving cash must be considered taxable income for the employee. This includes gift cards, gift certificates (even if they cannot be redeemed for cash and can only be used to purchase certain items), and bonus checks. The value of all of these must be included in the employee’s income and is subject to employment taxes. However, if the employer buys a gift that is not equivalent to cash and gives it to the employee, it is not included in the employee’s […]

Cash Flow Management: The Secret to Success

Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services. While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work harder to please the next customer. If you fail to have enough cash to pay your suppliers, creditors, or employees, you are out of business! What is Cash Flow? Cash flow, simply defined, is the movement of money in and out of your business; these movements are called inflow and outflow. Inflows for your business primarily come from the sale of goods or services to […]

16 Considerations When Setting Prices…Especially This Year

1. I always thought setting prices was easy. I used to just raise prices every fall a dollar or two. But this year, I will definitely raise prices significantly because of the Olympics. I will do it in July, because it’s when I have the least number of families I must tell prices are going up. I don’t want to get a large number of new students this fall with the parents thinking gymnastics is one price, they put that in their budget, and then in January we raise prices. 2. We know if we don’t raise prices at least the rate of inflation, we’re losing money. It only makes sense. In the last year inflation rose 1.4%. Over the […]

Swimming and Concussions

Five to 10 percent of athletes will suffer from a concussion during any giving sporting season. Concussions can occur in all sports. The risk is just lower in some than in others. Research from the Southwest Athletic Trainers Association reveals that the most instances of concussion happen in athletes between the ages of 15 and 17. Approximately 2 million high school athletes suffer from concussions per year. Of those injured, 500,000 result in doctor’s visits and 300,000 land athletes in the hospital. The biggest concerns with concussions are repeated blows and long-term injuries. The research noted about also indicates that 96 percent of Americans feel that it is important for youth athletes to be seen by a healthcare professional before returning back […]

The Five-Question Concussion Quiz

How much do you really know about concussions? Find out by taking this quiz: True or False: You should not allow someone to go to sleep if you think he has a concussion. True or False: If you didn’t black out, you don’t have a concussion. True or False: Only a CT scan can identify a concussion. True or False: A quick way to determine if an athlete has suffered a concussion is to ask questions like “What day is it?” or “How many fingers do you see?” True or False: A concussion is defined as “neurochemical and cellular changes in 
the brain triggered by an injury caused 
by direct or indirect forces.” One, two, three, and four are all […]

Retention is Important to Swim School Growth

Your ability to maintain and grow the number of swimmers in your program is essential to many things but especially to your planning for year to year operations, budgets and marketing. Your management meeting agendas are sure to always include discussion of the number of swimmers in your program and comparison of current numbers with those from previous terms, blocks or seasons. Figuring out how to generate more weekly lessons is usually the main focus but, actually, the easiest way to grow your swim school is to keep the customers you have. Business research shows that the average business loses 20% of its customers every year by failing to nurture relationships.  Did you know that customer retention starts with the […]

Biz Tips: How To Make It Easier For You To Bring Your Team Together

One of the challenges studio owners can face is bringing the entire team together. Everyone is busy, they may have other plans. It tears your hair out trying to just get everyone together. I know how frustrating that is. So I want to share with you an idea about how it could be much easier to give your team the chance to be with you.   TIP 1:  virtual team training using Google Hangouts. The great thing about doing your team training virtually using a Google Hangout is that people can do it wherever they are. They can be in their own home. They can be with their kids. They can dial up on their phone. But they can still […]

Insights On Opening A Second Location

Opening a second location undoubtably comes with a lot of questions. The Barron family owns and operates a gymnastics school in St. Louis. They are now in the process of opening a swim school just a few miles away. Get an inside view of the challenges and questions to ask before you pull the trigger on a new location. Let’s start with a background. Barron Gymnastics is owned by the Barron family: Joe, Diane, Scott, and Julie. Joe and The business is split 4 ways – Joe, Diane, Scott, and Julie. Diane started the business in 1978. Joe [Diane’s husband] joined the business in 1995.  The Barron family is in the middle of a succession plan [for children Scott and […]

A Gym Owner’s Perspective on the Olympics

Denise Dalton, co-owns Gymnastics Nevada with her husband, Tim. Denise has a truly unique perspective on the Olympics since her son, Jake Dalton, is – well – you know who he is. We thought that you would be interested in how she leverages the Olympics at Gymnastics Nevada. Watch as much of the Olympics as possible! We encourage parents to watch as much of the Olympics as possible with their children. Make a “watching party” around particular favorite events. Choose specific Olympians in favorite events to learn more about. The excitement of learning more about Olympians helps kids get excited to want to try other things. Even after the Olympics, share clips as often as you can. Have a tv […]

Emotional and Historic – You Couldn’t Ask for More from U.S. Olympic Swimmers

The 2016 Olympics has had some amazing moments. Some have been emotional. Some have been historic.  And some have even been emotional and historic.  Of course, Michael Phelps comes to mind with his 23 gold and 28 total medals. But I think were also moments that signify something greater than any number of medals – whether gold, silver or bronze – could signify for a sport, a country, a race and for people. I need only show the names and you’ll know: Simone Manuel and Anthony Ervin. Both Simone’s and Anthony’s winning races will add 2016 entries to their previous entries in the list below. Their reactions were priceless and captured on camera for the world to share. Both were […]