Two Fitness Franchises - $215,000+ Owner Benefit

Providence County, RI

Seller Financing Available
Two Fitness Franchises - $215,000+ Owner Benefit
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Asking Price: $749,500

Cash Flow: $215,000

Gross Revenue: $625,000

EBITDA: $215,000

FF&E: $300,000

Inventory: $300,000

Rent: $2.20 /Month

Established: 2012

Two Fitness Franchises - $215,000+ Owner Benefit

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Business Description

Top Fitness Franchise, Two Locations $215,000+ Owner benefit

This business comprises of two franchise clubs in RI and CT with a combined owner benefit over $215k per year and growing. One club has been near completely refreshed with a new scheme and over $20k invested into the club prepping for a personal training program push. Both clubs are remotely managed and an owner operator with passion to take over a turn key system and put their stamp on a near untapped PT potential growth for added revenue/profit center. Recent closure of a close franchise and agreement signed with Dept of Health member benefit in one of the clubs should set up one of the clubs for a very strong growth in 2019 after a turnaround year in revenue! Combined revenue increase year after year in club 2 with drastic increase in 2018, setting 2019 up for even stronger profit than 2019 on agreements.

Detailed Information

Included in asking price
Real Estate:
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Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
4000 + 6000 sqft Facility is in a high end location with Extremely popular coffee shop, restaurant and cafe as well as Walgreens. On a very busy street with two of the main roadways showing combined 75k+ car traffic daily. Very visible store front windows across the front fascia of the facility showing the entire club inside. 1 mile average HH income $73k, 3 mile $66k. All equipment is owned and included in the purchase. All Life Fitness Stength and Mixed Cardio equipment up to date on maintenance. Club is cleaned 7 days a week.
Only true 24 hour gym in the area, Low cost competitor already in place for several years that now draws traffic to the club being more upscale and clean offering more variety of equipment and training services. Smaller studios only offering classes. This is the only club in the area offering all amenities combined with 24 hour access to largest fitness franchise in the world.
Growth & Expansion:
The membership growth potential is just starting to tap into external outreach as previous years relied upon walk in traffic. Partnerships being setup with local businesses for corporate wellness programs will improve membership numbers drastically in 2019, as well as the closure of a neighboring franchise within the last week having members that will be transferring into one of the clubs over the next few months. Personal Training was non existent in both locations up until 2018 and just starting to build the program. Potential for $20k revenue per club
Leases for 5 years no increase in rent for 3 years
Support & Training:
Two week ownership training as well as ongoing coaching from a Franchise Business Consultant with the Franchise, Resources on Corporate Franchise support center
Reason for Selling:
Capitol for Real Estate investments
This business is an established franchise
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