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Episode 217: Industry Tea with Partner Michael Jay - Buying a Studio

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コンテンツは Nick Dennis によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Nick Dennis またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal

What We Cover In This Episode:

  • Mitch’s unique insights for individuals wanting to buy, own or sell fitness businesses [4:58]

  • One of the biggest issues or disconnects he sees when people are looking to buy a studio [13:12]

  • The key financing information to consider when buying a fitness business [17:14]

  • A look at valuations of a studio, both quantitative and qualitative [18:46]

  • Why doing your due diligence is key in this process and what that means when buying a studio [28:48]

  • Some deal breakers for buyers and red flags to watch for [34:01]

  • What to consider in terms of the “people factor” of the studio [40:22]

Quotes:

“One of the best pieces of advice that I can give people, we call it planting seeds, is just putting those little nuggets out to the universe and see what comes back to you one day. Whether you are a buyer or a seller, any time that you see an opportunity that you think you would be interested in, it is worth just saying it out loud to give it some life.” [Mitch, 10:31]

“if the business revolves around the owner it is not set up for success. It has to have those policies, procedures and handbooks. It can’t have that one teacher who teaches an unhealthy majority of the classes, where if that one teacher left, half the clients would leave with them.” [Mitch, 25:18]

“Remember that fitness businesses are not just a financial investment, it is, but it is a commitment to building community. You want to build and nurture this community, because that's where the real value is.” [Michael, 40:52]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch’s Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE’s Business Portal

https://calendly.com/fitdegree/support

support@fitDEGREE.com

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

  continue reading

270 つのエピソード

Artwork
iconシェア
 
Manage episode 389422792 series 2991340
コンテンツは Nick Dennis によって提供されます。エピソード、グラフィック、ポッドキャストの説明を含むすべてのポッドキャスト コンテンツは、Nick Dennis またはそのポッドキャスト プラットフォーム パートナーによって直接アップロードされ、提供されます。誰かがあなたの著作物をあなたの許可なく使用していると思われる場合は、ここで概説されているプロセスに従うことができますhttps://ja.player.fm/legal

What We Cover In This Episode:

  • Mitch’s unique insights for individuals wanting to buy, own or sell fitness businesses [4:58]

  • One of the biggest issues or disconnects he sees when people are looking to buy a studio [13:12]

  • The key financing information to consider when buying a fitness business [17:14]

  • A look at valuations of a studio, both quantitative and qualitative [18:46]

  • Why doing your due diligence is key in this process and what that means when buying a studio [28:48]

  • Some deal breakers for buyers and red flags to watch for [34:01]

  • What to consider in terms of the “people factor” of the studio [40:22]

Quotes:

“One of the best pieces of advice that I can give people, we call it planting seeds, is just putting those little nuggets out to the universe and see what comes back to you one day. Whether you are a buyer or a seller, any time that you see an opportunity that you think you would be interested in, it is worth just saying it out loud to give it some life.” [Mitch, 10:31]

“if the business revolves around the owner it is not set up for success. It has to have those policies, procedures and handbooks. It can’t have that one teacher who teaches an unhealthy majority of the classes, where if that one teacher left, half the clients would leave with them.” [Mitch, 25:18]

“Remember that fitness businesses are not just a financial investment, it is, but it is a commitment to building community. You want to build and nurture this community, because that's where the real value is.” [Michael, 40:52]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch’s Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE’s Business Portal

https://calendly.com/fitdegree/support

support@fitDEGREE.com

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog

  continue reading

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