Listing ID: 82826
Business Overview
This is a well equipped and smooth operating 24/7 fitness center ready for new ownership. Current membership is roughly 266 +/- members. The gym operates mostly on its own with the owner sending a login code for new members as their primary duty. One member who also acts as an independent personal trainer in the gym cleans and assists with member sign up. This is a chance for an entrepreneur looking to enter the fitness space to get a turnkey gym at a fraction of the price of starting from scratch. This is also a great opportunity for an existing gym owner to expand their brand. The business was established by an experienced owner and a couple partners 3 years ago. The partners decided they wanted to pursue other goals and the owner would like to focus their energy elsewhere. The Seller is committed to a smooth transition of ownership and is willing to train a new owner on operating the business.
Financial
- Asking Price: $75,000
- Cash Flow: $29,003
- Gross Revenue: $69,793
- EBITDA: N/A
- FF&E: $65,000
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Detailed Information
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,200
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Strip center, high traffic retail
Seller is committed to a smooth ownership transition and is willing to train a new owner on operating the business.
Other interests
Additional Info
The business has 1 employees and is situated in a building with approx. square footage of 2,200 sq ft.
The real estate is leased by the business for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons why people decide to sell operating businesses. However, the true factor vs the one they say to you may be 2 completely different things. For instance, they might say "I have a lot of various commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these might just be excuses to try to conceal the reality of altering demographics, increased competition, current decrease in incomes, or a variety of other reasons. This is why it is very essential that you not depend totally on a vendor's word, yet instead, utilize the seller's response together with your total due diligence. This will paint a more realistic image of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many companies borrow money with the purpose of covering items such as inventory, payroll, accounts payable, and so on. Bear in mind that in some cases this can imply that earnings margins are too small. Lots of businesses fall into a revolving door of taking on debt as a way to pay back other loans. Along with debts, there may also be future obligations to think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that should be met or may cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the location bring in brand-new clients? Most times, operating businesses have repeat customers, which form the core of their everyday earnings. Certain aspects such as new competition sprouting up around the area, roadway building, and employee turnover can influence repeat clients and adversely influence future profits. One crucial thing to consider is the location of the business. Is it in a very trafficked shopping center, or is it concealed from the highway? Obviously, the more people that see the business on a regular basis, the higher the opportunity to build a returning customer base. A last thought is the basic area demographics. Is the business situated in a largely populated city, or is it situated on the outskirts of town? Exactly how might the regional average home earnings effect future income prospects?
