Rick has been in the health club industry for 44 years as club owner, operator, Chairman of the 10th largest U.S. club company and as a consultant of over 3,000 assignments. Rick runs 2 major industry events, sits on Boards and Advisory Boards of several companies serving the club industry. He wrote the Financial Management textbook for the industry and has received every award, including the only recipient of the Lifetime Achievement Award. He is known for his market analyses, club valuations, expert witness testimony and especially, his knowledge of club finances.
What you’ll learn
- How to use a third party when selling a club
- Rick explains EBITDA
- Tips to understanding club financials
- 01:01 – Whats coming up on this weeks show
- 02:25 – Message from Podcast Partner Precor
- 02:57 – Using a third party in the sales process
- 06:02 – Challenges in selling a club
- 09:17 – Rick explains the valuation process
- 12:41 – What is EBITDA?
- 14:13 – What is Due Diligence?
- 17:08 – What are the challenges of selling a studio?
- 20:48 – Tips to understanding club financials
- 24:34 – Message from our podcast partner Tribe Team Training
- 25:10 – Industry News Update
- 27:07 – Precor Quick Fire Five with Frank Furness
Resources shared in the show
Rick Caro https://www.mgmtvision.com/
Books recommended by Frank Furness
Precor Contact for North America: Jack.firstname.lastname@example.org
Precor Quick Fire Five
Check out the Intensive Series this month