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Snap Fitness Gym Business - Absentee Ownership
North CarolinaListing DetailsOffice ID: SNAP2
Status: Sold
Listing Broker: Joe Vagnone
Listing Price: $195,000
Gross Revenue: $232,547
Cash Flow: $55,712
FF&E Included: Yes
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:
Sellers are willing to consider some financing to the right, qualified buyer.
Absentee Owner: Yes
Reason for Sale:
Owners are pursuing other interests.
Training:
Seller is willing to stay and train a new owner for one month as needed, not to exceed 15 hours per week.
OperationsYear Established: 2008
Form of Ownership: LLC
Employees (part-time): 5
Business Hours: Open 24/7 to Members, and includes staffed hours
Summary
Business Description:
This Snap Fitness franchise, located in the Lake Norman area of NC, offers 24-hour convenience and results in a clean, friendly neighborhood gym, where all are made to feel welcome, no matter their fitness level. With approximately 800 individual members, and 600 memberships including joint and family package memberships, and growing, this business boasts a very desirable, high-end clientele serving the people of Lake Norman, distinguishing itself from the competition on the basis of price and service. Rated one of the top 5 best gyms in the Lake Norman area, this business enjoys a 5-star Yelp rating. Just a few amenities this franchise offers: • Strength training, cardio, and free weights • Personal or Group Training • 24/7 Access, Contracts are not required, can pay month-to-month • Private, clean, non-intimidating facility • Co-ed training for all fitness levels • Convenient parking, close to home and work This franchise is located in a large shopping center, which enjoys heavy traffic – a prime location in the area. The growth potential and revenue generating possibilities are limited only to the creativity of a new owner. This profitable franchise is fully equipped and ready for a new, fully engaged owner/operator to take it to the next level. The cash flow potential for a single owner/operator is in the $90,000 range.
Historical Summary:
This franchise was founded in 2008 by the present owners.
Owner Qualifications:
Computer, marketing, sales, organization, staff management, administrative, leadership, (preferably) training certification.
Competition:
This business is 1 of 4 fitness centers within a 7-mile radius, and competes on the basis of pricing and service.
Potential Growth:
The growth potential and revenue generating possibilities are limited only to the creativity of a new owner.
LocationType of Location: Strip Center
Real Estate for Sale: Yes
Lease Expires: Nov 30, 2021
Option: 5 year renewable
Monthly Rent: $6,429
Monthly Common Area Maintenance: $7,853
Square Footage: 3500
Facilities:
This franchise is located in a large shopping center, which enjoys heavy traffic – a prime location in the area.
Last Updated: Jun 26, 2018 / 10:57 AM
Financial Information Current as of: Aug 17, 2017 / 5:37 PM