How to Sell a Dance Studio
Having your own dance studio can be a very rewarding and lucrative business. Most likely you have spent many years building up your client base and increasing the number of students that come to learn dance. Since dance studios are in a niche market, it can sometimes be hard to sell. If you feel that it is now time to move on and sell your dance studio then there are few simple methods that you can follow to help you get the right price and make sure that your business is going in the right hands.
Instructions
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1
Put documents together:
Get all of your important documents together to help you stay organised and be able to answer any questions from a potential buyer. Financial statements and total number of students should all be included in your documents. Also, your business license and any other important permits should be a part of your documentation. -
2
Do research:
Look around for other dance studios that might be up for sale in your area. Visit them posing as a potential buyer and find out how much they are asking. This will give you a good idea of how much a dance studio is worth in the current market. Remember to compare all of your services with other dance studios to understand any differences that might get a better price for your studio. -
3
Sell it yourself or get help:
You should decide if you want to sell your dance studio yourself or hire the service of a real estate agent. Selling yourself can be very challenging as you will have to spend time spreading the word and putting out ads for your business. If you use the services of a real estate agent or firm they will help you but it will cost some money. -
4
Talk to clients:
Talk to some of your many clients and see if they might be interested in buying your dance studio. The best part about this approach is that you have already developed a good understanding with your clients and you also know that they are interested in dance. -
5
Hire real estate firm:
Talk to a good reputable real estate firm and let them know how much you want for your dance studio. A real estate firm usually has a large list of buyers looking to purchase a running business like your dance studio. -
6
Place online ads:
You can also place a large amount of online ads with details of your dance studio, the location, facilities and of course how much you are asking for it. You should start getting inquiries within a few days.
