Podcast Episode 163: Time to sell your studio? Here’s What You Need To Know {Part One}

This is a 2 part series because, well, selling isn’t a minor prospect. Today, I’ll be covering some generalities and in next week’s episode, we’ll leap into the nitty-gritty numbers that will show you what you need to do to sell.  

1. Selling your studio is not a short term process. Our final businesses did not in fact sell for nearly 2 years. During that time, we kept growing and put infrastructure in place to support the sale.

    • What happens if selling immediately needs to happen?
    • Is there a team member you can put into place that will hold the ship tight?

2. Infrastructure and Systems will Sell Your Studio.

    • Organization Chart
      1. Who does what?
      2. How well do they do it?
      3. Is everyone clear on responsibilities?
      4. Where are you single threaded?
    • Standard Operating Procedures
      1. Sales
      2. Marketing
      3. Communication
    • Metrics — Areas of Growth Potential
      1. Attrition/Retention
      2. Lifetime Customer Value
      3. ACMV

3. The more turn-key your team, the more likely your studio is to sell and sell quickly.

    • While you’ll be able to remove the cost of your management, most people will want to be able to walk into a business that can operate without them at the helm.  

4. Regardless of what you may think, your equipment, and at times your methodology, matter very little in comparison to profits.  

    • So oftentimes, when an owner wants me to value their business they tell me about their investment…
      1. Real Estate
      2. Equipment
      3. Methodology
      4. But, these don’t sell a business. Profits do. If you are strongly profitable with a methodology that has the potential for further growth and you are selling the methodology as well, you will see additional value.  

Listen in to today's episode and you'll learn:

  • How I realized the business model I had wasn’t going to work for me going
  • The biggest lessons I learned over the two years it took to sell my businesses
  • What you need to consider before you even decide to put your business up
    for sale
  • What to do if you want to sell it immediately!
  • The three areas you need to focus on if you want to entice a buyer {and
    strategies for each}


With grit + gratitude,


Recommended Episodes

  • Looking ahead to 2024: Coach Peter with guest Janine Francke – Finding great staff, assets and liabilities around trainers & competition. A perspective from France and Germany.

    Y'all, In every challenge lies an opportunity. And nobody knows that better than Janine Franke. In EPISODE 597, Janine opens up about her journey from globe-trotting expat to pioneering yoga in Strasbourg, France.  Here’s what we’re getting into: Janine's approach?  Viewing every hurdle not just as an obstacle, but as an opportunity to grow and…

    Listen Now

  • Looking ahead to 2024:  The United Kingdom

    Y’all, Just when we thought we'd seen it all…2024 rolls in with its bag of surprises. From the lingering effects of COVID to the brave new world of AI, this year is shaping up to be a rollercoaster of innovation, adaptation, and, yes, a little bit of hustle. In our latest chat – Episode 596…

    Listen Now

  • Looking ahead to 2024:  Strategies for Success in Canada

    Y’all, Big News from the North! And who better to deliver it than the brightest minds in the Canadian fitness industry, Hannah and Emily? In Episode 595, they're not holding back.  They're sharing the full scoop on what's hot, what's new, and what's revolutionizing the fitness landscape in Canada. (Our Canadian friends are in for…

    Listen Now

  • Looking ahead to 2024: Marketing Edition

    Y’all, 2024 is here, and guess what?  It's time to shake things up.  Traditional tactics? They're taking a backseat.  It’s time to embrace the future. In EPISODE 594, we're diving headfirst into the marketing trends that are totally reshaping the fitness world.  Let’s dive in:  Why should you care about all this? Because these aren’t…

    Listen Now