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.
Studio owner Karina Belli is offering what she describes as a “Business in a box – 360 Indoor Cycling Studio” that someone could purchase and move to their own location… or assume her lease and continue at it's current location in Marietta, GA .
I hope this email finds you well. As I mentioned in my FB message, I am looking at selling my studio. The concept is selling everything that is needed to start a studio (EVERYTHING), thus the name “Business in a box”.
I need to cut my losses and be able to move on. Unfortunately, things did not work out as I had hoped for. I am pretty much giving everything away… Here is what is included for $36,000:
21 Bikes – Freemotion 11.9 with console with power sensor
PIQ – Bike reservation
Sound Equipment Website/Signage/Branding/Furniture/Dispensers (wet towels, hand sanitizer, bathroom towels, soap)/Smart TV/ Front Desk MAC Computer/ HeartRate monitors/printer/fans/ washer & dryer
And much much more
I am also open to selling things separately, but would prefer to sell everything to one party.
Please let me know if you have any questions. And thanks for posting this for me!
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.
