Jim Thomas

There are some steps in the gym for sale process that benefit both the seller and you, the buyer. These steps protect the seller from “time-wasting” buyers, and the buyer from acquiring lemons. One of the most important questions when buying a gym is “Can I see your financial statements?” Numbers provide vital information to help you decide if you should buy a gym or fitness center. Even if a seller has placed the gym on the market, he or she remains reluctant to share highly confidential and sensitive records to any potential buyer. If the seller thinks you are a credible prospective buyer, he or she will let you sign a non-disclosure agreement before the gym’s proprietary information will be opened to you. What is a Non Disclosure Agreement? This is a standard legal agreement presented by the seller to the buyer to protect the former’s gym if a potential sales deal falls through. This agreement gives both parties room for an open and honest atmosphere that may lead to a…