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171. Here’s how I evaluate buying an existing health club
Manage episode 418815764 series 3564764
Sisällön tarjoaa Nathan Platter. Nathan Platter tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.
Ever dreamt of owning a fitness studio? Think it's all about smoothies and six-packs? Let's get real about the sweat equity involved in purchasing an existing studio. In this jam-packed episode, you'll learn why buying into the fitness biz isn't just about counting reps – it's about counting costs, understanding the allocation of your time, and recognizing the difference between being an investor and being hands-on. We dissect the true implications of an owner’s time investment, the nitty-gritty of payroll, owner compensation, and the cost of potentially swapping out management. It's a full-body workout for your brain that could steer you towards the smarter option of building from the ground up or picking a truly profitable venture to flex your entrepreneurial muscle.
Now, let's talk about the trickiness of profit opportunities when you're on the verge of taking over the reins. I'll share stories from the trenches – experiences that have taught me to look beyond the glossy profit projections that can often disguise the real effort required to keep a business pumping. We'll discuss the challenges of inherited membership models and why a thorough examination of the financials is critical before you jump on board. Plus, our discussion is peppered with insights on navigating the waters of a business acquisition, ensuring you're equipped to spot a diamond in the rough, or sidestep a money pit. Tune in, and let's sculpt a strategy that works out in your favor.
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1. Evaluating Acquisitions of Existing Studios (00:00:01)
2. Evaluating Profit Opportunities in Business (00:08:21)
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