Sell your Health Club for More Than it’s Worth
Is it time to go fishing? Would you like to sell your gym? This may be more challenging than you think. Nearly half of all gym owners who try to sell their business can’t get it done.
However, if done properly, nearly every gym will sell and many times for the asking price.
What’s the secret? You need to get the timing right. The biggest mistake we see is that most gym owners do not plan their exit strategy from the very beginning.
We see this over and over….gyms owners wait until something goes wrong and when that happens the gym is typically trending downward and it's not making as much money as it once was. The best time to sell your gym is when your business is doing well….when it’s tending up, not trending down.
Be sure you have clean books.
If you want to sell your gym for the maximum value, you need to be sure your books are in order. I once asked to see a club’s books and they handed me a shoe box full of receipts. That won’t work.
In order to decr…
Read more
