When you are selling your fitness business, you will want to be careful and deliberate about maintenance of your equipment.
As you prepare your sale, you will need to maintain your equipment and have it serviced. Pilates reformers should be services and springs should should be within their lifecycle. Treadmills should be serviced and cleaned. Barbells and free weights should be cleaned and paired. Bikes should be checked throughly for gear settings, pedals and clips. Studio accessories should be cleaned and anything not tidy / fully functional should be replaced.
When potential buyers visit your studio or gym in person, things tend to go one of two ways.
If a potential buyer walks into your space and sees that everything is well maintained and in good condition, they tend to accept what you tell them. They will of course do a thorough inspection during due diligence, but they will be starting from a place of trusting your actions.
If a potential buyer comes in and sees that equipment needs replacement or maintenance, they will start to take the costs of replacement or work into their valuation. Even more, if they start to think about things that need updating in the physical space, they will start to question other aspects of your business.
The bottom line is that studio maintenance is always important and it is doubly so when it is time to consider a sale. Schedule a call with us to learn more and get tips for how keeping your fitness business, yoga, Pilates, barre or cycle in good condition as it comes time to sell.
