UNDER CONTRACT - FL Franchise HVLP Fitness Portfolio - $1.4M EBITDA

FL

UNDER CONTRACT - FL Franchise HVLP Fitness Portfolio - $1.4M EBITDA
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Asking Price: Get Financing: N/A

Cash Flow: $1,431,000

Gross Revenue: $8,138,000

EBITDA: $1,431,000

FF&E: $5,300,000

Inventory: N/A

Lease Rate: N/A /SF

Established: 2012

UNDER CONTRACT - FL Franchise HVLP Fitness Portfolio - $1.4M EBITDA

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Business Description

UNDER CONTRACT
Franchised High Volume, Low Price (HVLP) fitness centers located in Florida area are available for sale. The Company is comprised of eight locations (six mature and two younger clubs), opening between 2012 and 2016 (and one in pre-sales currently). For the mature clubs (six), the consolidated revenue for 2017 was $8.18mm and adjusted EBITDA of $1.43mm. The 7th location is still maturing but is breakeven now whereas the final location is in pre-sales. Strong systems and financial record keeping are in place.

The Company has over 31,000 members and the clubs offer cutting-edge, modern fitness equipment and amenities such as group exercise classes, tanning, hydro-massage, body scanning and personal training.

Detailed Information

Real Estate:
Leased
Building SF:
N/A
Lease Expiration:
N/A
Employees:
270
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The Company’s facilities are in excellent condition with majority of the clubs being 17,000 to 23,000 SF (with the exception of one 30,000 SF club). All locations follow the same franchise design and have similar open box formats with great traffic count and high visibility. All equipment is in great condition and well maintained. All leases have favorable terms, long-term and with renewal options. The leases are assignable.
Competition:
Like most areas, there are several competitors in the surrounding area ranging from national & regional chain gyms such as Planet Fitness, LA Fitness to smaller, local fitness studios.
Growth & Expansion:
This is a franchise HVLP portfolio offering which offers a solid foundation and platform to grow additional units within the brand (which is one of the fastest growing in the industry). Membership growth and unit price increases (which have already begun) offer upside to revenue along with continued personal training growth.
Support & Training:
A complete operating team is in place but ownership will properly transition to new ownership group as needed and agreed to.
Reason for Selling:
The Company is being sold as a result of owners decision to exit industry.
Franchise:
This business is an established franchise
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(from currently available funds)
 
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Michael O'Koomian

Business Listed By:
Michael O'Koomian

MOK Capital Advisors

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