What does it take to start a personal training business, make it successful and profitable, and then make millions from it?
Discover Strength CEO Luke Carlson returns to talk about what you need to know if you want to build an incredibly valuable personal training business or maximize the value of an existing HIT studio, including what strategies you need to consider and how to apply these in practical ways, the systems and processes you need, the challenges and opportunities you can expect, and so much more.
Luke’s own journey is a fascinating case study in starting out as a fitness entrepreneur and eventually building a wildly successful HIT business franchise, and he has been kind enough to share his insights and experience with High Intensity Business once again.
Plain and simple: no matter where you are in your journey, if you want to grow your high-intensity training business and make it more successful, check out this episode!
This podcast episode is brought to you by Imagine Strength.
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Visit ImagineStrength.com and discuss your specific needs with the team, and choose the equipment that will propel your fitness business to the next level.
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- 03:19 – When (and why) should you think about selling your HIT business?
- 08:21 – What makes your business more valuable and how can you optimize these things?
- 12:16 – Why your business should perform well even if you’re not involved in how it runs
- 15:18 – Your high-level factors for success: systemize, attract and develop great people
- 18:15 – How auto pay increases business value and watching out for single points of failure
- 22:11 – Why most clients value workouts over individual trainers (and what this means for your business)
- 25:49 – Your business’ value relies on EBITDA and profit
- 30:57 – How (and when) to prepare for selling your HIT business
- 33:34 – Would Luke Carlson ever sell Discover Strength? What would he do afterwards if he did?
- 37:45 – How to find buyers for your HIT business and tips on pitching and negotiating
41:00 – How to ensure a smooth transition for clients and new owners once your business is sold