Selling A Skating Rink & How To Attract Qualified Buyers
There are few things more nostalgic than the experience of a skating rink. Visiting a roller or ice skating rink is arguable as cherished a pastime as going to the ballpark. People from all walks of life, old and young, turn out every day to lace up and take a spin. Now that public spaces are opening back up and moving towards full-swing, people are eagerly venturing out to family-friendly attractions like skating rinks.
One might ask, isn’t the potential for selling a business a bit uncertain right now? Are prospective buyers looking to spend investment dollars on family attractions like skating rinks? Reports are indicating that family attractions like skating rinks are seeing steady action on the business-for-sale market.
For skate rink owners who were hit hard by the pandemic, or who would like to capitalize on the oncoming demand for activities like skating, this article will walk you through some valuable tips for making your business attractive to potential buyers. If you’re an owner who is ready to make an exit, now may be the perfect time to sell your skating rink.
First, a quick quiz for all the entrepreneurs reading this. When savvy buyers show up to purchase your business, what are the two most important questions you can answer for them?
- Does it work?
If you can thoroughly answer these questions upfront, then you stand a great chance at getting top dollar for your business and the equipment associated with it. We’ll share some valuable tips in this article to help you thoroughly answer those questions. Prospective skating rink buyers will be considering many variables when making their decision. You want to give them peace of mind that the business is well-organized and well-maintained, making their decision to buy your rink and/or the rink’s assets a veritable “no brainer”.
So let’s dive into the best practices that will likely help you see a solid return on investment when selling your roller rink.
- First up, the aesthetic. Yep, we’re talking about house cleaning and first impressions.
Likely, you’ve already alleviated most of the initial pain points like location, the building, rink floor, parking, concessions, and basic amenities. These are very expensive parts of starting a skating rink from scratch. So the fact that you have established infrastructure with a running business helps answer the first big question – “Does it work?”
But how does it look? Does the building have road-side appeal? If you were a parent, would you be comfortable dropping your kids off here?
How the front of your business looks, often informs people’s opinion of how the inside looks as well. If needed, it may be a very good idea to spruce up the front of the building. You don’t have to spend a lot of money here. No reason to buy new signs. Usually some paint and good ol’ fashion elbow grease will get the job done.
Now that the front of your store has passed the grunt test that says “safe and clean”, your potential buyers will likely analyze how well everything has been maintained. Have you made any updates? What amenities will need to be changed out? What assets can we keep and what assets must go?
This is also a good time to talk about how you can potentially sell your assets individually and see even more of an ROI. At Auction Masters, we specialize in itemized business equipment sales, making the process simple and profitable for owners who are making their exit.
With over 40 years of multi-industry experience, we have been able to create a streamlined process that makes selling business equipment simple. Family entertainment, and more specifically, skating rink sales is an area where we are well-versed. We not only have sophisticated marketing programs that target qualified, high-valued buyers, we also provide turnkey solutions for owners looking to liquidate.
We sell your business equipment piece-by-piece, allowing you to retain more value for individual items and steer away from selling your entire business as a bundle deal. We’d argue that often there is no simpler and more valuable way to see such a great return on your investments when selling a business and its equipment. Take a look at our 6 Step Process and see for yourself.
- Give us a ring at (763) 428-2271 or visit our contact page to connect with a specialist.
- We discuss your needs and set up a walk-through to value your assets.
- We figure out what should be sold and what items should not.
- Working directly with you, we establish a timeline for the sale.
- Our team catalogs, tags, and photographs all of the items to be sold.
- We immediately identify and begin marketing to your most valuable buyers
Ok. Let’s get back into our tips!
2) Show that you care. Maintenance and business plans are always welcome.
Make it obvious that you have systems in place for taking care of your facility and equipment. It gives a buyer peace-of-mind to see that the rink floor is smooth, the skates are clean and in good shape, the arcade is filled with well-kept, working games.
Have your business plan available in case a prospective buyer asks. Overall, showing that you have taken careful consideration in planning and running your skating rink will go a long way in the eyes of buyers.
Here are examples of items that you may want to ensure are in good shape and ready for sale:
- Concession Equipment
- Kitchen Equipment
- Arcade Equipment
- Office Furniture
- Office Electronics
- Lighting Equipment
- Material Handling Carts
- Audio/Video Equipment
- Display Cases
- Maintenance Equipment
- Disco Balls
These can be valuable pieces of equipment, bringing in wonderful resale value in an auction environment. Making sure that items like these are in the best condition possible will give you leverage during your liquidation.
It’s been reported that there are over 1000 roller skating rinks and around 2,800 ice skating rinks in the United States. Compared to other family entertainment venues, that number has potential to grow. There is plenty of market opportunity for newly added skating rinks in locations across the nation. The equipment from your rink could be an amazing addition to an existing rink, or a new location opening.
If you need to sell your skating rink business and equipment, Auction Masters provides an array of options to help you make it a success. We offer traditional auctions which are streamed through our website.
Online bidding with Auction Masters (during a traditional auction) works just like the buyers were present on the auction floor. When multiple people are bidding at the same time, the auctioneer can only accept the offer of a single bidder. However, as the bidding slows down, bidders have plenty of time to send in final bids.
Contact us today to start your used equipment auction in the Minneapolis area. You can book your appraisal below. Feel free to give us a ring and schedule time to take a walk around your facility!
We recently were in the news for the auction of the St. Louis Park Roller Garden