If you’re like the majority of the spa owners who tune into Spa Marketing Made Easy, you likely started your business from a place of passion.
Maybe you set out as a solo straight out of school and now you’re focused on building your empire.
Maybe you set out to build your own practice after years of working for someone else and knowing you could build something even greater.
Typically, when we build a business from a place of passion and doing what we love, the idea of selling that business isn’t one of the reasons we dove into entrepreneurship.
(Side note: This is why one of the first things I walk my Growth Factor Framework students through is their 5, 10, and 20 year visions. We’re not going to work forever – even if you don’t ever intend to sell, you still need to think about your exit strategy.)
However, as you build your business into a valuable asset, grow your team, and work yourself into the role of Spa CEO and out of the day-to-day operations, selling your company might become a more intriguing idea.
Here to discuss the process of selling your business with me on this episode of Spa Marketing Made Easy is Ben Hernandez.
Ben is the founder and managing director of Skytale Group, a firm specializing in strategic management consulting and M&A Advisory who helps businesses, especially those in the health and personal care space, grow, scale, and sell.
Tune in as we talk all about the key things to consider and plan for if selling your business is a route you wish to take – even if you can’t fathom the idea now, you never know what the future holds.
Being a smart and strategic Spa CEO means being knowledgeable about your options, so pull up an earbud and take notes, this is a good one!
In this episode, we discuss:
- Understanding when to sell and how (and when) to begin thinking about the selling process
- How a company like Skytale works with spa owners and aesthetic practices to sell the assets of their business and the first steps they take to get started
- The key things your business needs to have in place to get the best valuation possible and the litmus test for knowing if you have those elements
- The gold standard financial benchmark for a business looking to sell and the 3 big stages of selling a business
References Mentioned in Episode #350: Preparing Your Spa to Sell with Ben Hernandez of Skytale Group
- To learn more about Skytale group, visit their website and connect with them on Facebook, Instagram, and LinkedIn
- To connect with Ben, send him an email at [email protected]
- To learn more about crafting your spa’s long range vision and strategic exit plan, learn more about the Growth Factor Framework program
To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community.
Want to learn more about how Addo Aesthetics can help you? Book a call today.
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Episode Transcript