Case Study:
Empowering Growth and Financial Integrity for Njoy Health
Client Overview
Njoy Health, a dynamic player in the fitness industry, oversees eight Anytime Fitness franchises, collectively generating over $4 million in annual revenues. Fitbooks, the dedicated accounting and bookkeeping firm, has been instrumental in their financial journey since 2007, providing comprehensive services such as payroll, auditing, AR/AP management, bookkeeping, and financial reporting.
Innovative Systems and Procedures
Recognizing the unique needs of the fitness industry, Fitbooks created robust systems and procedures to ensure accurate documentation and reporting of sales tax across all health clubs under the Fitbooks umbrella. These innovations not only enhance compliance but also contribute to operational efficiency, providing Njoy Health with a streamlined approach to financial management.
Business Evolution
When Fitbooks first partnered with Njoy Health, the company was a modest operation with $300,000 in annual revenues and just one employee. Over the years, Fitbooks has played a pivotal role in supporting Njoy Health's remarkable growth, guiding them to the current status of over $4 million in annual revenues and a workforce of more than 40 employees.
Sales Tax Audits Expertise
Fitbooks demonstrated their expertise in navigating challenging situations, particularly during multiple sales tax audits. One notable achievement was turning an $11,000 IRS claim into a credit for one of Njoy Health's locations. Fitbooks' meticulous audit processes not only rectified immediate issues but also inspired the development of tailored procedures for fitness clubs. These protocols serve to prevent IRS claims proactively and facilitate clear communication with auditors.
Client Testimonial
The owner of Njoy Health expresses deep appreciation for Fitbooks, stating,
"Fitbooks and their team have been there for us through thick and thin. You expect an accounting team to crunch the numbers, but the team at Fitbooks intimately understands my operations...so I can focus on sales, management, and growth while they make sure my back-end business is tight."
Conclusion
The enduring partnership between Njoy Health and Fitbooks is a testament to Fitbooks' commitment to understanding their client's unique needs and providing tailored solutions. By seamlessly integrating financial expertise with operational understanding, Fitbooks empowers Njoy Health to thrive in a competitive industry, leaving them free to concentrate on driving sales, efficient management, and continued growth.
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