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I would like to get information on financing a health club purchase with very little downpayment.

I would like to get information or guidance on how to purchase a health club without having 10-20% down payment as most banks look for when doing a loan. Are there any other load options out there that you can get for no money down or will banking institutions not do this anymore. I am looking to purchase a Gold's gym for $2.4 million with cashflow over $750,000. Just trying to find out if this is possible for anyone to help me locate someone to finance an established business.

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Answers (1)
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

Would suggest that you start by asking a club that looks like one you would like to own. They may be wanting to sell or know of one that does. Be very careful as most are very equipment heavy and that changes regularly. You also have to have the personality type to make that kind of business do well.
Been a lot of them that have opened and closed as a healthy operating capital is necessary unless you have a gimic or something to draw people in until you get sufficient numbers. Good luck, Jon at Edgemaster Mobile Sharpening.

Feb 15, 2010

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