The boutique yoga studio scene in California has thrived over several decades. A passion for yoga and its many forms has inspired thousands of devotees to open studios all over the state. From retreat shalas in the forest to bustling big city, high-traffic studios, the market has proven itself to be resilient and fertile. These California yoga studios vary tremendously in size, structure, revenues and clientele. Nevertheless, when it comes to selling your studio there are several factors that nearly all yoga studios all have in common.
When your journey as a studio owner is coming to its natural end, there are some first steps you can take to ensure that your studio and its community pass into new hands quickly, and that you get a fair price for your years of devotion.
Refine your space with fresh eyes
Revise the art on your walls, and replace anything personal to you with more generic editions. You want to take anything that you aren’t willing to sell with the studio out of the studio.
Replace or remove all non-functioning clocks, lights, stereo equipment, or other decor. Replace or remove and wash curtains and towels.
Of your rental equipment, remove any mats or blocks that are chipped or torn. Wash or replace covers for bolsters and cushions, opting for patterns and colors that will resist visible staining.
Create clean financial statements
Go through the last three years of records, whether you keep these records in accounting software, your scheduling program, or in a shoe box, and get things in order. Begin to create 36 months of clean financial history to share with buyers.
Clarify your online presence
When it’s time to move on from your studio, you need to offer the new owner an online presence they can inhabit fully from the beginning. So now, as you’re beginning to prepare, go through your online world – website, social media accounts, etc. – and detach your personal presence in these spaces.
If you use your studio social media in tandem with your own, edit your past posts to separate them now. Revise comment threads and discussions that are more personal or out of date. Test your website and fix any broken links, outdated offers or events, or links related to old projects.
Clean up online galleries and archives so that your feeds present a unified, contemporary aesthetic.
Your buyer will be looking for a studio just like yours, and you need to create a space for them to step into. They should be able to see themselves there, in your role.
Learn More
To learn more about how the role of a small business owner impacts your sale price, check out this post.
Get to know more about what we offer to support very small business owners, on our blog
Ask us questions and learn more about how to sell your yoga studio by Booking a Discovery Call
As always, please reach out to us as you consider selling your California yoga studio. We love to network and to talk to studio owners. (And of course – don’t worry – we won’t go blabbering about you).
