Listing ID: 73410
This is an incredible opportunity for an owner / operator to step in and partner with the current concept developer of this fully functioning, long-term fitness and performance gym. The purchase of this business provides the buyer with a large percentage of this develop and rapidly growing operation. Location has been in operation as a gym for over 14 years, with a recent high tech upgrade and full renovation to the entire building. The current owner has recently installed new programs that have sky-rocketed sales. Membership in the business continues to grow at an aggressive rate with more upward potential available for new membership and additional facility offerings. With over 2 acres of land attached to the operation, there is room for growth in outdoor fitness options as well.
There is a potential option to purchase the land and buildings through a separate transaction.
- Asking Price: $350,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: $350,000
- Inventory: $1,000
- Inventory Included: Yes
- Established: 2008
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:19,080
- Lot Size:N/A
- Total Number of Employees:10
- Furniture, Fixtures and Equipment:N/A
The location is a warehouse space with 19,080 SF of indoor space and 2.07 Acres of land. Building has been developed into a High Caliber fitness and performance facility. Conveniently located in the Columbus Market. The area has grown into a much higher sought out area with new residential developments and retail operations nearby. With over 14 years of fitness operations from this location, demand continues to stay high and reflects in the facilities membership numbers. The current owner and developer of the concept has worked diligently on developing an A class brand in the fitness and performance markets.
Incoming buyer will be an on-site owner / operator of the location. Current owner will provide on-site training during the transition period. There would be an option for longer term consulting if necessary.
Owner is expanding the brand and concept to multiple markets.
Strong residential market in the surrounding area, with clients coming in from Columbus and surrounding suburbs. Very few similar style operations in the immediate area.
Options to grow internal services, while expanding on current offerings. There is room to grow the current membership base.
The business was started in 2008, making the business 14 years old.
The deal shall include inventory valued at $1,000, which is included in the asking price.
The business has 10 employees and is located in a building with approx. square footage of 19,080 sq ft.
The real estate is leased by the company for $11,130 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals decide to sell operating businesses. Nonetheless, the true reason vs the one they say to you might be 2 entirely different things. As an example, they may claim "I have way too many other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these might just be excuses to try to hide the reality of transforming demographics, increased competition, recent decrease in profits, or an array of other reasons. This is why it is extremely crucial that you not count completely on a vendor's word, however instead, make use of the seller's solution along with your general due diligence. This will repaint an extra reasonable image of the business's present scenario.
Existing Debts and Future Obligations
If the current entity is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of businesses take out loans in order to cover points such as stock, payroll, accounts payable, etc. Remember that sometimes this can suggest that revenue margins are too tight. Many organisations fall into a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that should be met or may cause charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do businesses in the location attract new consumers? Most times, companies have repeat consumers, which create the core of their daily profits. Specific variables such as brand-new competitors growing up around the location, road building and construction, and employee turn over can influence repeat customers and also adversely influence future revenues. One crucial thing to consider is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business regularly, the better the opportunity to construct a returning client base. A final thought is the basic area demographics. Is the business located in a densely populated city, or is it situated on the outside border of town? How might the regional typical household income effect future income prospects?