Should I sell my gym equipment separately or with the business?

These are two different exits. In one, a buyer takes over a gym that is open and running. In the other, you close the doors and sell the contents. This page lists what each choice touches so you can ask the right people before deciding. It does not say which is better for you, and it does not say what either brings in.

Selling as a running business

A buyer gets the members, the staff, the name and the equipment together, and you may be able to hand over the lease. The gym keeps operating, so members are not left without service. Expect a buyer to ask for records and to review the equipment. A broker can help find buyers, and ask your lawyer how the sale agreement should deal with memberships where you operate.

Closing and selling equipment

If you close, ask your lawyer how to deal with members who have paid in advance, with staff and with every contract. Equipment then sells on its own, so ask who might buy it. Ask an appraiser how used equipment is assessed. Ask your lawyer what you owe members and staff on closing, since that varies with the facts.

The lease and financed equipment

Read your lease for what happens when you leave early or assign it. Check which equipment is yours and which is financed or leased, because lenders and lessors may have a claim on it; ask your lawyer how that is handled where you operate. Your accountant can explain how each route affects your own books.

Questions to answer first

• Are there interested buyers for the whole gym?
• What would closing cost in obligations to members and staff?
• Who holds security over the equipment?
• How long does the lease run?