Whether you want to or not, you’ll have to exit your business at some point. And you deserve to get paid when you sell.
Words of wisdom from Mitch McGinley, founder and president of Boutique Fitness Broker, as he gets practical with Coach Peter in Episode 628, Selling Your Studio. Even if a sale isn’t on your radar now, it’s never too soon to lay the groundwork for this exit strategy.
A peek at the process:
- Know your worth: valuation is a function of profit and what someone’s willing to pay
- Extricate yourself: a business that relies solely on the owner is very tough to sell
- Plant seeds: invite managers, lead teachers and clients to consider buying the business
- Sit tight: practice patience, because it usually takes 8-9 months to sell your studio
- Enlist expertise: partner with experts to close the best deal
Plus, grab intel on landlords, attorneys and private equity investors. Accelerate your sales smarts in Episode 628 and with Mitch McGinley at Boutique Fitness Broker.
Catch you there.
With grit and gratitude,
Lisé
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