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24 Hour Fitness Center

Morris County, NJ

24 Hour Fitness Center
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Asking Price: $150,000

Cash Flow: $24,200

Gross Revenue: $63,700

EBITDA: N/A

FF&E: $100,000

Inventory: N/A

Rent: $4,125 /Month

Established: 2018

24 Hour Fitness Center

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Business Description

Highly successful, fitness center located in Northern, New Jersey, Morris County. Their philosophy is with patience and persistence, anyone can achieve realistic goals, including higher self-esteem, confidence, and the body you desire. They strive to create a personal relationship with their clients and to provide encouragement, confidence, motivation, and strength to help members reach their fitness goals. Their goal is to supply the best possible service as a premier fitness center, committed to providing members and employees of all ages a fun, friendly environment. They are committed to promoting a healthy lifestyle through convenient, clean locations, state-of-the-art equipment, programs, and fun activities that provide an exceptional and unique value to their community. The majority of the business income is obtained from monthly membership fees which is a guaranteed income to the company. All of the equipment is in excellent working condition and will be delivered free and clear of any debts. The center continues to develop financially and expects a further increase with the 2019 gross income. This fitness center consists of 2 part time employees who are unaware of the pending sale. The payroll is based on an hourly basis, the staff is unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $800. The business transaction will offer an assignable commercial corporate lease which expires 2023, plus additional options available, with a monthly rent of $4,125 all in, cost per square foot is estimated at $12.55 and rent security of approximately $7,500. The business has been valued / priced at $150,000 which is based on the seller’s representation of a multiple of the net yearly income which includes the value of the specific business assets. The January- May 2019 yearly gross income represented by the seller owner is projected at $63,700 and a net income of $24,200 based on an onsite owner operator, and prior to debt service. This is an excellent business opportunity which can be operated either as an on-site owner operator or a semi absentee investor. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.

Detailed Information

Location:
Morris County, NJ
Real Estate:
Leased
Building SF:
4,850
Lease Expiration:
N/A
Employees:
2
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This opportunity is a one-year young successful fitness center with a 4,850 square foot facility. The gym consists of a fully equipped operation with a modern professional appearance. The business is in a commercial mall with various other active companies. This opportunity is in Northern New Jersey, Morris County, which consists of numerous highly populated communities with continued demand for this personal service.
Competition:
To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion:
The business opportunity can be further expanded by improving the existing marketing plan and the local advertising and offering a personal training division. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.
Support & Training:
The seller will remain post-closing and is fully prepared to supply an appropriate transitional period to the new owner / operator.
Reason for Selling:
Owner is retiring from the industry.
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
Customer Service

Regal Consulting Corp.

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