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.
Coincidently, this was posted on our Studio Owner's Facebook group just last night.
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.
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- We're Screaming for a Standardized Language - December 2, 2023
- ICI Podcast 38 Monetize your passion for Indoor Cycling and turn it into cash Pt 1 - November 26, 2023