Ep 12: Building a Studio that Sells with Mitch McGinley & Kristin Abel
In this episode of The Boutique Fitness Marketing Podcast, we’re diving into a topic every studio owner should have on their radar: building a studio that sells.
For this episode, I’m thrilled to be joined by two incredible friends and experts from Boutique Fitness Broker who specialize in helping fitness studio owners navigate the selling process.
During our discussion, we get into what makes a studio attractive to buyers, the marketing strategies that can boost your studio’s value, and the biggest mistakes to avoid when preparing to sell.
If you’ve ever wondered how to position your studio for a future sale, this conversation is for you.
Meet our guests…
Mitch McGinley is the Founder and President of Boutique Fitness Broker and an all-around great guy. Mitch brings years of experience in hospitality and boutique studio ownership. He’s been in your shoes—he bought and sold his yoga studio and now helps others prepare their businesses for sale.
Kristin Abel is the Vice President at Boutique Fitness Broker, a CPA, former studio owner, and self-proclaimed math nerd. Kristin has spent years coaching boutique fitness owners on creating systems for success and is passionate about helping studios thrive.
Here’s a quick rundown of what we covered on building a studio that sells:
What Mitch and Kristin do at Boutique Fitness Broker and what led them to help boutique fitness owners buy and sell studios.
Is selling your studio an option for everyone?
As former studio owners, was it always in your goals to build a business you could sell, or was that something that arose as an opportunity later on?
What essential things must a studio have if they want to sell?
What do buyers care about, and what don’t they care about?
Do they typically see studios sell to individuals, other fitness businesses, or investment groups?
Are there different modalities that are easier to sell? Is this something that changes rapidly, or are there general trends you see that hold over time?
Are there specific marketing metrics that buyers look for?
Should studio owners market their business differently if they know they want to sell in a few years? Are any of the following things buyers look at?
Lead generation systems
Brand recognition and curb appeal?
Booking system efficiencies / SOPs
Online presence: quality of online reviews / SEO
What are some of the most successful studio sales they’ve been involved in?
What made them stand out?
Connect with Boutique Fitness Broker: https://boutiquefitnessbroker.com/
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