Sell a Business for the Best Price
Selling a Personal Trainers Business
Don't believe anyone who tells you it's easy to sell a personal trainers business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a personal trainers business, but have limited capital to get their foot in the door.
To sell a personal trainers business these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Maintaining Objectivity
Emotions run high during the sale of a personal trainers business. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Brokerage Benefits
Brokers give personal trainers business sellers distinct advantages in the marketplace. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Second, a good business broker is a master at confidentiality locating personal trainers business sale prospects and guiding sellers through negotiations. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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