This is my go to way for finishing a hoop. I love the backside of embroideries so I do whatever I can to never cover up the back of a piece completely.

First, trim your excess fabric to 1/4 inch - 1/2 inch all the way around the hoop.

Flip your hoop over and thread your needle. I prefer to use floss on a roll for this activity. Start stitching from the outside of the fabric. Do not cut the floss. Keep it running directly from the roll until you are done.

Stitch using a running stitch around the entire hoop.

Finish on the outside of the fabric.

Pull both ends of the floss while holding the hoop. This will be the most satisfying moment of your day.

Now you may cut the floss, leaving enough excess to tie and knot your ends.

Tie your two ends using a square knot and trim the excess floss.

Flip your hoop over and marvel at the glory.