Richard ToutounjiDirector, Meet Your Network · Connecting fitness & wellness suppliers to our marketing community.

The Secret to Selling Your Business: What You Never Knew! 💯

2 May 2023 · 1 min

Watch on YouTube

0:45

In this segment, the speaker outlines critical steps for business owners planning to sell within the next 24 months. The primary recommendations are: (1) sell the business under a distinct brand or company name rather than the owner's personal name to enhance perceived value and reduce buyer risk; (2) dramatically reduce the owner's direct involvement in training and daily operations, aiming for only 10‑20% of personal training hours, thereby demonstrating that the business can run independently; and (3) transition operational responsibilities to other trainers, staff members, or knowledgeable clients who can sustain the business post‑sale. These actions collectively lower the perceived risk for potential investors or lenders, making the business more attractive and easier to value.

Chapters

So if you're looking at selling your business in the next 24 months, 12 months, 6 months, whatever it's gonna be, you must remove yourself as less as possible in the business as in training. So you might wanna remove yourself down to 20% or 10% of personal training hours if that's the case and let other trainers run it. It won't value and hold up as much because there's huge risk in that for somebody who's going to put their hard-earned money or loan money into that. Number 1, sell a business with a brand name, a business name, a company name, not your own name. Number 2, you will need to remove yourself from the business as in the training side of things. That is the big risk for people wanting to come and invest. So it might be somebody, you know, one of your trainers, one of your staff, a client that knows the business, that knows the team