How ClearSpend Helps Fitness Studios Overcome Expense Headaches
Managing expenses for fitness studios is a hassle. Here's how ClearSpend can streamline approvals, eliminate paper receipts, and make it much easier overall.
Running a fitness studio can be incredibly rewarding—but also quite challenging. If you run a fitness studio, there are a number of hurdles in your way. Managing staff, standing out in a competitive market, organizing booking times, and (maybe your least favorite), handling expenses and accounting.
If you're struggling to control and manage expenses for your fitness studio, ClearSpend might be the solution you've been looking for.
Our team recently sat down with Julie, the facilities manager and co-owner of three yoga studios and one pilates studio. Her company currently employs around 40 employees, with plans to expand.
She was kind enough to share some of the expense challenges she faces and let us explain how ClearSpend can solve those problems.
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Complicated approval processes
One of the main challenges Julie mentioned in our interview was managing approval for purchases, especially with two owners and dozens of employees. Did she approve the cost, or did the other owner? Does the studio actually need that new robot vacuum, or does it just need a new battery? Did you send approval via text, email, or verbally? (Which there's no way to track.)
How ClearSpend solves this issue
With ClearSpend's Go card, fitness studio owners or managers can generate specific cards for each employee and limit cards to specific categories. Want to let your facilities manager buy cleaning supplies but not plane tickets? You can do that. Want to let your yoga teachers buy new yoga mats but not lunch for the office? Limit the card categories to only work at retail stores and not restaurants. You can also set spending limits to keep costs down and, since it's a debit card, there's no bill to pay at the end of the month (unlike with credit cards).
So many paper receipts
Tired of managing piles of paper receipts? Receipts are definitely not made for piling… When employees use their own cards and come back for a refund, it creates a bottleneck (and a pile) or receipts. For starters, everyone has to remember to bring in the paper receipts. Then you have to sit down, track that money, and then reimburse them. That’s way too many steps to buy some poster boards, pens, and staples.
Some small business owners end up relying on platforms like Venmo to repay employees for expenses—which pulls from your personal account. That's a whole new accounting nightmare because you can't expense costs from your personal account. Plus, you're asking employees to spend their own money, which they might not have. Then there's the expense report which has to be turned in on time.
"The receipt gathering in a central location, the ability to give permissions to different people individually, and being able to control the dollar amount…This is honestly music to our ears." -Julie N, Fitness Studio Owner
How ClearSpend Solves This Issue
ClearSpend makes it easy to generate and assign business debit cards for each employee. Whether you need 5 or 500 cards, we've got you covered. Generate the card, fund it, set spending control limits, and you're good to go. Track spending in the ClearSpend dashboard and watch the receipts come in digitally (after employees upload them to the ClearSpend app). Say goodbye to that box of paper receipts.
Also, it's free.
"Business owners really don't need any more small business expenses. All the $100 things a month; they just add up to a lot." -Julie N, Fitness Studio Owner
Complicated accounting (which costs you more)
Accounting can be a nightmare for an SMB, especially if you don't have solid systems in place. Who is buying what? Why do they need it? Plus, you're juggling boxes of paper receipts, which you hand over to your accountant. 😱 They need to input those expenses, categorize them, and pull in data from other platforms like Quickbooks. It's a headache—one you and your bookkeeper both don't need.
How ClearSpend Solves This Issue
With ClearSpend, your accountant can log in with their accounting profile to your ClearSpend account. That means your accountant can view transactions, reconcile receipts, change category codes, and more. We even integrate with QuickBooks so they have easy access to everything related to expenses all in one single dashboard. It saves time on your side, but also on their side.
"It's a good idea..especially with the integration with QuickBooks, because you're taking away all the extra steps, which means you're adding back time to a small business owner's schedule. So I mean, that's really quite priceless. I probably would have paid for it, too. " -Julie N, Fitness Studio Owner
Managing expenses across multiple locations is a hassle
Managing expense reports is complicated enough. Add in multiple locations, and you've got a recipe for disaster—especially if you're trying to track revenue for each location separately. Were the new pilates bands for Studio 1 or 2? What about that new mirror? Cleaning supplies, contractors; the list can go on and on.
Julie shared the frustration of managing spending for multiple locations:
"We're just constantly tracking down who and what and what studio and how much do you have the receipt for? It's a lot of time wasted, to be honest."
If only there was a platform to better organize this disaster. 👀
How ClearSpend Solves This Issue
Our business debit cards make it easier to track spending even if you have multiple locations. Here's how: generate a debit card for each location or specific employees at each location. Set your spending controls (don't worry, we'll be the bad guys and automatically enforce these for you) Get as granular as you want—limit per transaction amounts, merchant categories, even set daily or monthly spending limits. Our cards make it impossible to go over budget, and you can see who spent what in real-time from your ClearSpend dashboard.
ClearSpend: Built for and by small businesses like yours
When it comes to spend control and expense management, we didn't reinvent the wheel. So what makes ClearSpend different? For starters, we've spent hours talking to small business owners to find out what small businesses really need. What features do they want? How does their business work? Where are they struggling—and how can we help? ClearSpend was built specifically with small businesses in mind.
There's one other key difference between ClearSpend and other solutions—most require businesses to spend $40, $50, even $100,000 a year to access these tools. ClearSpend has no spending requirements, making it the perfect solution for small businesses.
Did we mention ClearSpend is free?