Overcoming Formation Challenges with Expert Fitness Business Consulting
Be Better Barbell Club is an innovative fitness enterprise offering online training services and operating a newly launched physical gym. The business has been active in the fitness market for four years, providing tailored fitness solutions to clients both online and offline.
The Challenge
When the owner of Be Better Barbell Club set out to start his company, he faced significant confusion regarding the appropriate business filings and the optimal structure for minimizing taxable income. Initially, attempts to use LegalZoom proved ineffective, leading to further frustration. The owner needed a clear, effective solution to establish the business structure correctly, open business accounts, and start generating revenue without costly delays.
The Solution
A friend recommended Omni Resources, and the owner reached out to our team immediately. We collaborated on a solution to get Be Better Barbell Club on the right track. It started with business structure optimization, as Omni formed an S-Corporation to capitalize on tax advantages. Once the company was up and running, the owner was able to open business accounts and start generating revenue promptly. Omni then provided guidance on building company credit and facilitating future approvals for credit cards, loans, and other financial opportunities. Our comprehensive training materials, including clear instructional videos, helped the owner understand and implement the right strategies for enhancing business credit.
The Results
The formation of an S-Corporation resulted in a significant reduction in taxable income.
Because the company was set up correctly, we were able to avoid the confusion and paperwork struggles faced by other business owners using quick online solutions. Be Better now has excellent corporate credit, facilitating approvals for car leases, business loans, other financial opportunities, and awesome reviews from their happy clientele.
The corporation now oversees two additional companies, and the owner wields substantial influence within the business, enabling further business growth and expansion. The continuous support and expertise from Omni Resources have empowered the owner to focus on running and growing the business, leading to repeated business ventures and ongoing success.