The gym down the road from you isn't doing so hot. One day, you get a call from the owner: "Do you wanna buy my gym?"
There's a lot to consider—more than just gross revenue and client headcount. How profitable is it? What mistakes and liabilities would you be acquiring? Do you actually need to buy that gym to get its clients?
Two-Brain Business founder Chris Cooper breaks it down step-by-step with exactly what to consider and how to crunch the numbers before you buy—or sell—a gym.
Links:
Driven Nutrition
Two-Brain Coaching
Free Tools
Gym Owners United
Timeline:
5:36 – How to determine what a gym is worth.
7:38 – Equipment and assets.
10:32 – Accounting for liabilities.
14:22 – How it can all go wrong.
15:57 – Why you should interview the coaches before you buy.
17:13 – Talk to the seed clients.
18:39 – Buying out a partner.
20:01 – The importance of non-competes.
21:49 – The question you need to ask yourself before you buy a gym.
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