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Popular Franchise Gym

Middlesex County, NJ

Seller Financing Available
Popular Franchise Gym
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Asking Price: N/A

Cash Flow: $127,000

Gross Revenue: $818,000

EBITDA: N/A

FF&E: $370,000

Inventory: N/A

Rent: $21,000 /Month

Established: 2017

Popular Franchise Gym

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Business Description

Highly successful national franchise fitness center located in Northern New Jersey which has been fully upgraded. This business opportunity has a 2018 gross income of $818,000 and a consistent net yearly income to the owner operator. Even during times of economic challenges, the fitness center industry remains strong. In fact, U.S. health club industry revenues for 2017 totaled $22.4 billion, and industry analysts predict a steady growth in the demand for health, wellness and fitness among all demographic groups-from Millennials to Baby Boomers. This fitness center offers an incredible opportunity to leverage the potential of the fitness industry and is currently on track to grow to 700+ locations by 2020. Only a third of the franchise owners are owner/operators, the rest leave the day-to-day operation of the club to their trusted managers and staff, with the ongoing assistance of the franchise. The current franchise owners come from diverse industries and backgrounds. But they have one thing in common: they were looking for an outstanding investment opportunity that would benefit themselves and their families. And they were looking for that balance between lifestyle and business investment, and they found it with this franchise. People are watching their pocketbooks and waistlines today more than ever. This business has seventeen full & part time employees and five 1099 instructors who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $12,000. The business has an assignable commercial lease which expires 2024 plus 1 five-year option, with a monthly rent of $21,000 all in, cost per square foot $19.77 and rent security will be required. The business has been valued based on a multiple of the net yearly income including the value of the specific business assets. Buyers transfer fee is $34,000 and yearly royalty fee is 6%. This is an excellent business opportunity. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

Detailed Information

Location:
Middlesex County, NJ
Real Estate:
Leased
Building SF:
12,750
Lease Expiration:
N/A
Employees:
22
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business location consists of 12,750 square feet, and presently has 2,150 contracted active members. The facility has a modern professional appearance and the business is located in a commercial mall for customer convenience. This opportunity is located in Central New Jersey, Middlesex County which consists of various highly populated affluent communities with continued demand for this particular service.
Competition:
Due to franchise non-complete no other gyms of the same franchise will be opened in this area, also to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has an appropriate marketing plan; good web site however further promotions can be instituted in order to improve the gross income.
Financing:
Can be available to a qualified buyer with an appropriate down payment.
Support & Training:
The seller owner who is semi absentee will remain post-closing in order to supply an appropriate transitional period to the new operator.
Reason for Selling:
The sale is due to the owner’s retirement.
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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