Profitable Minneapolis Group Fitness Studio

Minneapolis, MN (Hennepin County)

Profitable Minneapolis Group Fitness Studio
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Asking Price: $305,000

Cash Flow: $70,000

Gross Revenue: $175,000

EBITDA: $70,000

FF&E: $12,930

Inventory: $3,000

Rent: $3,240 /Month

Established: 2016

Profitable Minneapolis Group Fitness Studio

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Business Description

Multi-Disciplinary Group Fitness Studio and Strength Training Gym

A great opportunity to own a profitable fitness studio specializing in small group classes across disciplines. Beautiful yoga and pilates studio and well-appointed strength and cycle studio. Fully staffed with contracted instructors. Current co-owner able to stay on as manager and / or group fitness instructor. Extremely loyal client base with 150 recurring memberships / 225 recurring members, which comprises just below 50% of client business. 97.67% recurring member retention and 76.56% repeat purchase rate since opening (industry standard is 75.9% retention).

Attached Documents


Detailed Information

Location:
Minneapolis, MN
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,700
Lease Expiration:
9/30/2021
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Two spaces totaling approximately 3700 square feet. Each space has two studios. Upper level space leased month to month, lower level space 3-year lease term ending fall 2021. Includes all equipment - pilates reformers, barres and accessories, yoga props, fully-stocked strength training space, indoor cycles, all stereo equipment and technology, and product inventory. Existing client database included in sale.
Competition:
Very little competition for the types of services offered in immediate area, and good relationships with nearby businesses, including other fitness studios. Prime riverfront location in booming part of Minneapolis, close to established neighborhoods and shops / restaurants, as well as new construction multi-unit housing. Walkable / bikeable distance from local community. Close proximity to downtown, and well situated between downtown and suburbs to attract commuter clients.
Growth & Expansion:
Currently showing excellent growth over time - 179.25% recurring member increase since opening, in addition to substantial increase in non-member client purchases (class packages, etc.). Additional physical capacity for growth with four available studios to utilize in the space, and room to expand class sizes and offerings / times. Open times on schedule available to increase revenue with additional private training sessions and classes.
Financing:
Open to discussing seller financing with 25% or more down.
Support & Training:
Current owners able to help train / transition. Great training also provided by all service / technology providers for in-place systems.
Reason for Selling:
Relocating
Franchise:
This business is an established franchise
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Business Listed By:
Not Disclosed

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