What should I check before buying a home-based personal training business?
Check whether the clients are loyal to the trainer or to the service, what actually transfers without premises (the client list, booking system, equipment and brand), how bookings and payments are recorded, and how the handover will work. Without a studio, ask how much of what you would pay for depends on the client relationships.
A home-based or mobile training practice has almost no fixed assets. The trainer travels to clients, uses a home space or rents time at a shared gym. Little of it can be seen from the outside, so much depends on client habits and relationships. A generic home-business checklist helps, but these are the points that are specific to a trainer-run practice.
Do the clients follow the trainer?
Ask how long clients have trained with the current owner and why they stay. If it is the person, not the programs or the schedule, your hold on them depends on how well the handover goes. Ask whether the owner will introduce you, train alongside you for a period, and say plainly to clients that the practice is changing hands.
What transfers without premises
List what you would actually receive: the client list, the booking and payment tools, program templates, equipment, a phone number, a website and social accounts. Some of these may be personal to the owner or governed by an app’s own terms. Your lawyer can confirm what can be assigned. Ask also whether any clients train at a gym or park under a separate arrangement that may not carry over.
Booking records and payments
Ask to see the appointment history and how clients pay. Look for regular sessions rather than a few big bursts, and find out how any prepaid packages would be handled on transfer. If sessions are paid in cash or by informal transfer, ask your accountant how to confirm what was earned.
Handover and the owner’s role
Think about whether you are able to run the practice the way the owner does, in the same hours and locations. Our answer on what to check before buying a home-based business covers the general points, and what if the owner is the business covers the risk of leaving.
Related reading
12 pages on the same subject, grouped by topic.
Buying
- Expert answerWhat should I check before buying a home-based business?
- Expert answerWhat if key customers leave after I buy?
- Expert answerCan I buy a business with no industry experience?
- Expert answerWhat does owning a fitness studio involve day to day?
- Expert answerHow do I check whether a CrossFit gym makes money before buying it?
- GuideBuying a training and e-learning provider in Canada
Selling
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentMajor pitfalls to avoid when negotiating a purchase agreement
Deavo is an advertising and listings platform, not a brokerage, law firm or valuation firm. This page is general information, not legal, tax, accounting or valuation advice, and rules differ by province. Confirm anything you rely on with a qualified professional before you act on it.