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Asking Price$175,000
Revenue$388,000 Established2012
Cash Flow$20,900 Employees7 full-time
FF&E$150,000* FranchiseNo
Inventory$1,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Priced aggressively to sell, best offer, due to absentee ownership for this modern non-franchise fitness center located in Union County, New Jersey. This ultra-modern gym offers their members the latest cardio and strength training equipment plus exercise programs that include yoga, group cycling, and muscle endurance training. The center combines the most diverse amenities with world-class personal training to deliver unrivaled fitness options and weight loss programs. The facility presently has approximately 1,600 members and continues to develop weekly with new potential clients. This industry does not require government licensing approval to purchase or operate and is not a franchise. This company has seven employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $10,800. The business has an assignable commercial lease which expires 2023-01-01, plus additional options, with a monthly rent of $12,395, plus cam $8,000, cost per square foot is estimated at $10.50 and rent security of approximately $30,345.00. The business is in a free stranding commercial facility, on an active county road, consists of approximately 14,166 square feet and has an estimated capacity for one hundred & twenty-five customers. The business fixed assets has an estimated value of approximately $150,000 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped commercial Gym, which includes various gym equipment, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. This successful Gym / Fitness business operation is active seven days per week, with hours from 4:30 am to 11:00 pm. The sale includes all the required documentation including a certificate of occupancy from the municipality and the required state or city licenses to conduct its day to day business operation. The 2017 yearly gross income is $388,000 and the business has a moderate yearly net income due to the absentee owner prior to any debt service. The business has been valued at $175,000 based on the existing gross income including the value of the specific business assets and seller financing may be available to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business purchase opportunity and expects to supply a consistent investment return to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.
Facilities:The gym consists of a modern 14,166 square foot and has an attractive modern professional appearance. The business is in a mid-size commercial industrial mall with other active and successful businesses and conveniently located near to various highways for customer convenience. This most unusual business opportunity is in North Central New Jersey, Union County, which consists of various affluent and highly populated communities with continued demand for this industry.
Competition:Competitors presently exist in the industry and to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth Potential:The business presently has an inadequate marketing plan, no web site and if improved can further develop the business yearly gross sales.
Training/Support:The owner will remain post-closing for thirty days to supply an appropriate transitional period to the new owner / operator.
Seller Financing:May be available to a qualified buyer with an appropriate down payment.
Sale Reason:The sale is due to the owner is relocating out of the state of New Jersey.
Ad #100309
Seller Reference #FITN246
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
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