Episode 186: What Happens To Your Business & Family If You Die?

💡 The Wealth Protection Playbook for Gym Owners 💡

Welcome back to The Profit Lifestyle for Fitness Entrepreneurs with your hosts Scott Carpenter and Andy Boimila!

This week we’re tackling a question nobody in the fitness industry ever talks about—but everyone should: what happens to your business and your family if you die?

It’s a tough, uncomfortable topic, but ignoring it could devastate everything you’ve worked for. Scott and Andy open up about life insurance, financial protection, and how to make sure your loved ones and business partners are secure no matter what.

What You’ll Learn in This Episode:

✅ Why most gym owners are financially vulnerable if tragedy strikes

✅ The difference between term vs. whole life insurance (and why both matter)

✅ How whole life insurance can build wealth and protect your family

✅ The truth about GoFundMe campaigns and why they’re not enough

✅ Scott’s personal story of using life insurance to buy real estate and fund growth

✅ How to use convertible term policies to protect yourself against future health issues

✅ Why the wealthiest people have the most insurance

✅ How to build “money babies” (assets that create more assets 💵👶)

Special Announcement

I was recently a guest on the Business of Strength Podcast with Dan Goodman—where I’ll also be a guest speaker at their Scottsdale Event on Sep 18–19.

👉 Get $250 OFF tickets with my speaker code “Carpenter250” at www.bosretreat.com

When You’re Ready… Here Are 4 Ways We Can Help You:

1️⃣ Subscribe to the podcast so you never miss an episode

2️⃣ Join our free community for gym owners & fitness entrepreneurs: Facebook Group

3️⃣ Book a free call with us to learn how to build a profitable fitness business: ptlegends.com/1on1call

4️⃣ Email us anytime at info@theprofitlifestyle.com for questions, feedback, or support

🔥 This episode isn’t just about making money—it’s about protecting what matters most. Take action now so your family and your business are secure, no matter what tomorrow brings.