Franchise Fitness Center

Hudson County, NJ

Seller Financing Available
Franchise Fitness Center
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Asking Price: $395,000

Cash Flow: $113,000

Gross Revenue: $520,000

EBITDA: N/A

FF&E: $220,000

Inventory: $1,000

Rent: $9,145 /Month

Established: 2011

Franchise Fitness Center

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Business Description

Excellent opportunity, for this franchise gym recently available which is considered the best of the best in fitness centers in the World. The sale of this highly successful franchise gym is presently owned by an absentee corporate partnership group and located in Northern New Jersey with approximately 2,048 existing members. This Franchise gym is by far the most recognized name in industry, serving millions of members throughout the United States. This modern facility consists of 12,000 square feet, with well maintain equipment and routinely services approximately 400 members daily. The original cost to build out including the required equipment expense represented an investment of $600,000. This gym offers a full menu of exercise activities and has continually evolved its profile by offering the best amenities and the latest in cardio and strength training equipment as well as the most dynamic group exercise programs including Zumba, yoga, group cycling, mixed martial arts, muscle endurance training, and Pilates. This service business has numerous employees including an operation manager who are unaware of the pending sale and fully expected to remain post closing. This industry does not require any particular license other than franchise approval and a municipal certificate of occupancy to conduct its day to day operation. Based on the asking price, required down payment and net income this business can supply a wonderful return on investment to the owner operator prior to debt service. This sale is confidential, and all viewings are by appointment only and any attached photo may not always represent the particular facility.
Buyer Qualifications, No Specific qualifications are required to own and operate this form of business. This modern eight-year young full-service franchise gym consists of 12,000 square feet located in an urban city of Northern New Jersey, Hudson County and on an active commercial avenue with substantial visibility. The facility and equipment are well maintained with an attractive professional image. The purpose of this sale is due to an absentee ownership, involved in an alternative industry and not in the general area. Regarding support, the sellers and franchise will supply a post-closing transitional period to the purchaser. The sale includes a full turnkey operation which includes all of the required internal equipment to maintain a successful full-service fitness center including various equipment required for this particular industry and a full list of equipment is available upon request. The existing FF&E is estimated at $220,000 which will be verified upon receipt of owner’s financial documentation. This fitness center consists of approximately 12,000 square feet with a customer capacity of approximately 300 members at one time and approximately 2,000 registered members. The sale includes a 10-year lease, expires 2029/01/01, plus options with a monthly rent of $9,146 and rent security of $15,000. This business has fifteen employees who are unaware of the pending sale and expected to remain post-closing, monthly payroll approximately $13,350. This gym is located in a highly populated urban city which consists of private and municipal parking on and near by the site. The business is operational seven days weekly with ours from 6:00 am to 11:00 pm. This particular business opportunity requires franchise approval, municipal license and a certificate of occupancy from the appropriate government agency to conduct its day to day operation. With onsite ownership, an ongoing and more aggressive marketing plan the business can be further improved resulting in an additional net profit to the owner operator. This general area has limited competitors and the seller has agreed to supply an appropriate non-compete agreement to the new operator. The 2019 gross yearly income is projected at $520,000 and a yearly net income of $113,852 as an owner operator. The business has been valued at $395,000 which is based on a multiple of the net yearly income, and the equipment value and owner and bank financing is available to a qualified buyer. This transaction is confidential all viewings are by appointment only, please do not disturb the business, and photo may not represent this particular business.

Detailed Information

Location:
Hudson County, NJ
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
12,000
Lease Expiration:
1/1/2029
Employees:
15
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This modern eight-year young full-service franchise gym consists of 12,000 square feet located in an urban city of Northern New Jersey, Hudson County and on an active commercial avenue with substantial visibility. The facility and equipment are well maintained with an attractive professional image.
Competition:
This general area has limited competitors and the seller has agreed to supply an appropriate non-compete agreement to the new operator.
Growth & Expansion:
With onsite ownership, an ongoing and more aggressive marketing plan the business can be further improved resulting in an additional net profit to the owner operator.
Financing:
Seller financing is available to a qualified buyer
Support & Training:
The sellers and franchise will supply a post-closing transitional period to the purchaser.
Reason for Selling:
The purpose of this sale is due to an absentee ownership.
Franchise:
This business is an established franchise
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(from currently available funds)
 
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Ron Cervelli

Business Listed By:
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Regal Consulting Corp.

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