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Franchise Fitness Center For Sale

30/wk
Bergen County, New Jersey, United States
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Asking Price$595,000
Revenue$1,039,000 Established2011
Cash Flow$174,000 Employees17 full-time
FF&E$445,000* FranchiseNo
Inventory$2,500* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Solid business opportunity as an onsite or absentee owner operator for an upscale resort style Franchise fitness center located in a prime area of Bergen County, New Jersey. The franchise name is renowned & established, and this facility is top notch; providing quality customer service with state of the art equipment. The facility offers a large variety of physical training equipment and their business services includes personal training, cardio training, tanning, child fitness, child care services, a juice bar and much more. The center’s friendly and informative staff strives to motivate and inspire members in this spa-like setting to improve the customer’s health and well-being for long lasting results. The center is newer and continues to develop its membership with approximately 3,000 members currently enrolled. The business generates large sales figures and is expected to continue to develop and expand. The seller is a corporate semi absentee investment group. For Qualifications purposes, this industry does not require government licensing approval to purchase or operate. This company has seventeen full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $17,000. The business has an assignable commercial lease which expires January 31, 2030, plus additional options, with a gross base rent of $22,637, and rent security of $96,000. The building has a large capacity of members consisting of approximately 11,300 square feet with various workout sections. The business is in a free stranding commercial facility, on an active county road and state highway and has an estimated capacity for 550 customers. The business fixed assets has an estimated value of approximately $445,000 which is based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial fitness center, which includes the required licenses, a wide selection of exercise equipment, web site, social media venues, 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 fitness business operation is active seven days per week, with hours from 5:00 am to 11:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is $1,039,000 and the business has a yearly net income of approximately $174,000 based on an onsite owner operator and prior to any debt service. The business has been valued / priced at $595,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment 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:Located in an upscale North Jersey community and high traffic commercial area near the NJ Giants Stadium on a state highway. This is an urban area with a huge diverse population who require these services. The facility consists of 11,300 square feet with an ultra-modern appearance and state of the art equipment. The facility is designed for comfort and to offer the greatest possible services to its members. The facility has a professional image and a complete list of equipment which is available upon request. The business consists of a free-standing structure with various other active and successful businesses in the immediate area. This opportunity is in Northern New Jersey, Bergen County, which consists of various affluent and highly populated communities with continued demand for this industry.
Competition: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 owner is semi absentee due to an alternative business, also this gym presently has a basic marketing plan, limited advertising, web site and if improved can further develop the business yearly gross sales.
Training/Support:The sales are subject to franchise approval and seller will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Seller Financing:Financing is available to a qualified buyer with an appropriate down payment.
Sale Reason:The sale is due to the owner’s relocation out of the state of New Jersey.
Ad #101729
Seller Reference #FITN250
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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