Business Overview

Dreams do come true, whether running your first 5k, obtaining a skill or trade or even owning your own business. This was a dream of the seller and as we all know when dreams become a reality, anything is possible and wow what a dream. Originally when this business was in the concept stage, the seller was envisioning the unique concept that was about to unfold. It was to be developed for the love of music, fitness and straight from her soul to get people out enjoying fitness. Then we all know what happened. The seller spent over $300K in the buildout to get this up and running only to be staring lock down and covid in the face. The seller sat back and said what is happening in this crazy world and how can I move forward? Little did she know part of what she had already developed would be the next craze! Studio wired for virtual classes, now we are not talking a little camera phone, she was already in membership phase for her gym for virtual classes before it was a thing. This is not a gym rat fitness center, this is a state of the art specialty gym that keeps growing every day! She wishes things were different but would absolutely remain a customer. Friendships have been built and will always be not just amongst her but the clientele.
Unfortunately, her fulltime job has become a fulltime plus thing so she must now sell. When you look further into this you will see the great give away that she is doing, this is literally a steal.
Give me a call, sign an NDA and lets carry out this dream.

Financial

  • Asking Price: $60,000
  • Cash Flow: $37,514
  • Gross Revenue: $74,862
  • EBITDA: $37,514
  • FF&E: N/A
  • Inventory: $5,000
  • Inventory Included: N/A
  • Established: 2018

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,565
  • Lot Size:N/A
  • Total Number of Employees:8
  • Furniture, Fixtures and Equipment:N/A
Purpose For Selling:

Fulltime job expansion

Additional Info

The business was started in 2018, making the business 4 years old.
The sale won't include inventory valued at $5,000*, which ins't included in the asking price.

The business has 8 employees and is located in a building with approx. square footage of 1,565 sq ft.
The real estate is leased by the company for $4,567 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals choose to sell businesses. However, the genuine reason and the one they say to you might be 2 completely different things. For instance, they might claim "I have way too many various obligations" or "I am retiring". For numerous sellers, these factors stand. However, for some, these might just be justifications to attempt to hide the reality of changing demographics, increased competition, current decrease in profits, or an array of various other factors. This is why it is very vital that you not count absolutely on a seller's word, yet rather, utilize the seller's solution together with your total due diligence. This will repaint an extra sensible picture of the business's present circumstance.

Existing Debts and Future Obligations

If the current entity is in debt, which lots of companies are, then you will certainly need to consider this when valuating/preparing your deal. Many companies finance loans with the purpose of covering items like supplies, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can suggest that profit margins are too tight. Lots of organisations fall under a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that should be met or might result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do companies in the location draw in brand-new consumers? Often times, businesses have repeat customers, which form the core of their everyday earnings. Certain variables such as new competition sprouting up around the area, road building and construction, and staff turn over can impact repeat clients and also adversely affect future incomes. One crucial thing to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the main road? Certainly, the more individuals that see the business often, the greater the possibility to build a returning consumer base. A last idea is the basic area demographics. Is the business placed in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood median household earnings impact future income potential?