So I am having to close ON1 cycle – my Indoor Cycling studio in Sarasota, FL. There is new ownership in the space that I was subleasing. The new owner informed me that he wasn't going to hold up the lease agreement I had with prior owners. He has other plans for that space. My hands were tied and I had zero say so. He gave 40 days to get all property out, which will commence end of November.
I've sold all of my bikes. Those are all gone. However, I have everything else ever needed if someone wants to buy the brand and everything with it. It would be plug n play for anyone that wanted to run with it. All they would need is bikes and a space, the rest is all taken care of.
Any insight, guidance, or consulting you can provide in that process?
I'll list below some items that will come with the package if someone decided to purchase.
-Business Plan -Huge channel lettering outdoor signage -website (I'll do free webmaster for month to do any necessary changes) -US Registered Trademark of ON1 Cycle -Amazing Sound System and Amp -Fitness Mic and receiver -Oval Office Crest (indoor signage) -Online Apparel Shop -Vector Files and all other file formats -Posters, Banners, etc -All of my cycling site domains I own. (Quite a few;) ) -Social media integration to obtain “likes” and “followers” right from the start.
I'm sure there are a few other things I am missing but that's a start. The way I see it this is a huge opportunity for someone, somewhere, to get there hands on a brand that has been established and successful for 5 years. Everything is plug n play, all you need is bikes and a space. Let me know your thoughts and if you'd be able to help.
After a meteoric increase in new Indoor Cycling studios and other forms of boutique fitness businesses, it makes sense that a few of them will be sold. I've recently received a number of inquires from studio owners, asking for help selling their business – and I went ahead and posted them. Here's a cycling studio in Magnolia, TX and another studio in Marietta, GA for sale.
Our mission here at ICI/PRO is to provide quality information, for all aspects of Indoor Cycling. Wanting to be helpful, while not having any personal experience selling a fitness business, I did what I always do – I found (and vetted) an expert at brokering fitness businesses.
In this episode of the podcast you can meet fitness business broker Shane Massey. Shane explained to me that there are multiple mistakes studio owners tend to make, when selling their business. We decided to focus on these five that he felt were the most important.
AVOID THESE 5 MISTAKES WHEN SELLING YOUR FITNESS BUSINESS
WITH FITNESS CLUB BUSINESS BROKER, SHANE MASSEY
1. THEY DON’T HAVE A LEGITIMATE REASON FOR SELLING THE BUSINESS
2. THEIR BUSINESS VALUATION / SELLING PRICE IS WRONG
3. THEY DIDN’T PLAN (PROPERLY) FOR THE SALE
4. THEY IGNORED POTENTIAL DEAL KILLERS
5. THEY DIDN’T SEEK PROFESSIONAL ADVICE
Listen to our discussion below.
Shane is prepared to assist an owner, regardless of where you're located. He has agreed to provide an initial consultation at no cost for our readers and listeners.
I guess it's inevitable that after all of these Indoor Cycling studios opening, I few would be offered for sale. This studio in Magnolia, TX is listed at 1,299.999.99. That might sound like a lot until you consider that it includes, what appears to be a nice building and an upstairs apartment.
You can see it's set up for cyclists to bring their own bikes – no reason you couldn't lease 20 or so new Indoor Cycles (or snap up some used IC's) and offer the option for either stationary or trainers.
It looks like they've done a nice job with the lobby.
6744 SF Warehouse with cycling and exercise studio and also a 2250 SF of nicely appointed 2 bedroom apartment, perfect for the live in business owner. Spacious reception/showroom with 2nd floor build out.
