Buying a gym can be one of the best business decisions you’ll ever make or one of the most expensive mistakes of your life.

In this episode of “Run a Profitable Gym,” Two-Brain Business CEO John Franklin and attorney Matthew Becker of Gym Lawyers PLLC walk you through exactly how to buy a gym without overpaying, buying a disaster or landing on legal landmines.

Matthew has handled over $50 million in gym transactions, and John has personally bought and sold five gyms in New York City.

In this step-by-step training, the pair break down:

• The formula for valuing a gym.
• Factors that impact the valuation.
• How to define and find the gym you’re looking for.
• The legal process for buying a gym.
• Options for financing a gym purchase.

Before you commit to a buy, check out this show and make sure you're setting yourself up for long-term success in the fitness industry.

Links

Free valuation calculator: "How to Buy a Gym"

"How to Value a Gym: SDE, Multiples and What a Gym Is Actually Worth"

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Gym Lawyers Consultation

2:41 - How to value a gym

17:14 - Define your “buy box”

18:55 - The search

22:12 - Legal and financing

36:43 - The full playbook

If you burn out, your gym dies. That’s why taking care of your mental health is the best business decision you can make.

In this episode of “Run a Profitable Gym,” Chris Cooper explains why burnout happens to gym owners and how to prevent it.

If you pour your energy into clients all day, manage staff, call leads, clean bathrooms and run your business, then go home and scrape the bottom of the bowl for whatever’s left for your family, you'll eventually run out of gas.

Your clients will know exactly when that happens. And they'll walk out.

Chris shares six practical strategies for improving your mental health before you burn out, including setting boundaries, finding someone to talk to and systemizing your business.

You can’t sell your clients energy if you don’t have it. Tune in to learn how to keep your cup full—and your gym alive.

Connect with gym owners just like you at the Two-Brain Summit. Get tickets via the link below!

Links

Two-Brain Summit Tickets

Gym Owners United

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1:46 - What we’re really selling

6:18 - The money problem

9:29 - Mental health strategies 1-3

15:37 - Mental health strategies 4-6

21:35 - The Two-Brain Summit

Most gym owners stay stuck because of fear. Fear of failure. Fear of confrontation. Fear of making things worse.

But here’s what Chris Cooper learned after 15 years of mentoring gym owners: The only thing stronger than fear is love.

You have to love the local people who need your help more than you fear publishing that Instagram post. You have to love your family enough to fire that coach who’s hurting your gym.

Today on “Run a Profitable Gym,” Chris presents gym owners with a challenge: Expand your comfort zone.

Coop gives you 10 difficult scenarios to choose from and a simple four-day process for practicing them until they become easy:

• Day 1: Practice the uncomfortable task in a mirror
• Day 2: Practice with a supportive friend or spouse
• Day 3: Practice with your mentor
• Day 4: Do it for real

Your comfort zone is like a muscle. When you exercise it, it gets bigger—and you become more capable of making the changes your business needs.

To get the free Comfort Zone Challenge worksheet, DM Chris in Gym Owners United, linked below.

Links

Gym Owners United

Book a Call

0:01 - Intro

1:57 - How to change

3:27 - Do you care enough?

11:01 - Comfort Zone Challenge

15:09 - Which gym owners succeed?