NCListing DetailsStatus: Sold
Listing Broker: TBD
Listing Price: $164,000
Gross Revenue: $191,000
Cash Flow: $40,000
FF&E Included: No
Financing/Terms:Owner's will consider some seller financing.
Reason for Sale:Owner's wish to scale back and retire
Training:Owner's will stay on for transition and will continue to maintain a presence at the gym by teaching classes if new owner wishes
OperationsYear Established: 1993
Last Acquired: 2002
Form of Ownership: S Corp
Employees (full-time): 4
Business Hours: M&W 5am-9pm, T&TH 7am-9pm, F 5am-8pm, Sa 8am-1pm
Business Description:The Club has approximately 700 members and 12,000 sq. ft. of facilities including free weights, resistance machines, cardio equip, basketball/volleyball. Club offers classes including yoga, martial arts, aerobics, and 'silver sneakers' classes.
Historical Summary:The club has been in business since 1993 and has a very steady membership base of about 690 - 700 members. Business has been in current facilities since 1999.
Owner Qualifications:Owner(s) should be interested in fitness and have good people skills. Basic business skills are necessary, but the business currently runs smoothly with processes in place for accounting, payroll, etc,.
Competition:There are a number of gyms in the area ranging from a small women's only gym to a YMCA.
Potential Growth:The club has a vibrant seniors membership due to its 'silver sneakers' classes and an agreement with a company that provides health club membership reimbursement for seniors through insurance companies. Current owners are marketing this program to retirement centers and senior centers, new owners could expand marketing of this program.
LocationReal Estate for Sale: Yes
Monthly Rent: $7,600
Square Footage: 13000
Strip center in mini-office park with mostly professional offices off main thoroughfare, ample parking, well lighted
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Jul 23, 2013 / 2:17 PM