Multiples on martial arts studios

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by a searcher from University of Toronto
in New York, NY, USA

1yr ago

Multiples on martial arts studios

I’m working on a valuation for a martial arts studio. The SDE is $350k with a listing price above 4x. I’ve checked out the BVR tool but there aren’t too many martial arts studios on there. Based on research it looks like gyms typically go for 2-4x but I’m not sure how they compare to martial arts studios.

Does anyone have any experience with martial arts studios specifically? Thanks for your help!

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reply by a searcher 1yr ago
from Bentley University in Boston, MA, USA

I've looked into fitness studios in the past - 4x sounds particularly high absent very high loyalty, numerous instructors beyond the owner, and a track record of growth/price increases. For an "average" studio with some form of succession (e.g. the owner isn't the main instructor), I would pay ~2-3x. Any additional price beyond that I would look to concede via a seller note or earnout-type structure.

reply by an admin 1yr ago
from Massachusetts Institute of Technology in Portland, OR, USA

^redacted‌ might be in a position to help here.

^redacted‌ and ^redacted‌ at BVR might be able to help you dig a little deeper.