What We Cover In This Episode:

• One of the single biggest things that restricts selling options as a studio owner [4:03]

• How to approach starting the selling process as an owner [7:38]

• A look at stock sale versus the asset sale [11:44]

• What to consider in order to be fully prepared for due diligence [13:41]

• Why you should always be thinking about your exit plan while running your business [17:57]

• Thoughts on what the value of legacy really means [25:33]

• What the driving factors to sell a studio typically will be [36:27]

• A few things that you can do right now to set yourself up for success in selling [41:21]

Quotes:

"Have policies and procedures that are written into the employee handbook that someone else can step in and take over and it doesn't revolve around you as an owner." [Mitch, 4:31]

"Normally, we want to be years ahead of this, so your lease coming to an end can restrict the options that you have to sell more than anything else." [Mitch, 6:38]

"Beauty is in the eye of the beholder. Worth is, how much is it worth to you and how much is it worth to a buyer who's willing to write a cheque? That's what determines value, really." [Mitch, 22:34]

LINKS:

Learn More About Michael & Get Exclusive Offers from our Partners!

Mitch's Website and Email

Connect with Mitch on Instagram

BizBuySell

Michael's Website and Podcast

Connect with Michael on Instagram

Episodes 219, 217, 215 & 115 with Michael

Send Megan Your Playlist or Discuss the Podcast Here!

fitDEGREE's Business Portal

https://calendly.com/fitdegree/support

[email protected]

https://www.instagram.com/fitdegree/

​​https://www.instagram.com/fitspot_guru/

https://www.fitdegree.com/blog