Entrepreneur earns £5,000 a month with business

Jake Colley-Davies (Image: Jake Colley-Davies) A 24-year-old has spoken about how he grew his fitness business into a £5,000 a month enterprise . Jake Colley-Davies started Caradoc Conditioning in 2021, a strength and conditioning coaching business. He uses social media to promote his content and currently earns between £2,000 and £5,000 a month. The entrepreneur started the business in April 2021 and received funding from the Centre for Entrepreneurship at Cardiff Metropolitan University, where he was studying at the time. He said: ‘The CFE (Centre for Entrepreneurship) encouraged me to focus positively on my progress, knowledge and wins when I was being too harsh on myself. He has been able to boost the growth of his business by promoting it on social media, which he was encouraged to do by his lecturers. Jake Colley-Davies (Image: Jake Colley-Davies) ‘Running a business is a huge amount of pressure as it solely revolves around you…the CFE helped me stay in a positive mindset. ‘Financially the CFE has allowed me to invest in software, hardware and advertisements that I may not have invested in by myself. ‘This has encouraged me to invest in my business and see the benefits of reinvesting profits for future growth.’ Many Britons are launching side hustles to boost their income (Image: Getty) In the first year, the business had around £6,000 in revenue, and this grew to around £24,000 in the second year. Mr Colley-Davies currently earns between £2,000 and £5,000 a month with a profit margin of around 75 percent. He has been able to boost the growth of his business by promoting it on social media, which he was encouraged to do by his lecturers. He has been able to boost the growth of his business by promoting it on social media, which he was encouraged to do by his lecturers. He said: ‘The feedback from lecturers gave me the confidence to push my knowledge out as content [online], without this I doubt I would have felt qualified enough to talk confidently on the subjects I cover. ‘I use social media marketing to get new leads and potential clients for my business. ‘I put a large amount of my business growth down to social media growth and see trends with the number of clients/leads I get, the revenue I generate and the engagement with my social media.’ For the latest personal finance news, follow us on Twitter at @ExpressMoney_.