Twobrainradio

Michael Scott and Mike Collette are co-owners of CrossFit Prototype in MA. They’ve been open for three years, and now they’re expanding.Instead of opening a second location or adding space to their original box, Michael and Mike are starting to acquire other local boxes. I’m in a privileged position of trust: box owners are more willing to talk openly when I’m in the room as a “broker”. So at the beginning of May, I flew to Boston to hang out with them for a few days, visit other boxes, eat dinner with other affiliates, and sit in on some of these negotiations.In this short interview, Michael and Mike talk about:WHY they’re acquiring other gyms, instead of expandingWHO would make an ideal partner in an acquisitionWHAT they look for when valuing a gymWHERE they’re expandingHOW they determine value.You can use the Business Valuation Calculator. You can download it free here:Rigquipment Finance DCF Worksheet for TwoBrainBusiness.comMichael Scott also refers to EBITDA as another valuation tool.Whether you’re thin