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Gym Fitness Center For Sale

13/wk
Morris County, New Jersey, United States
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Asking Price$225,000
Revenue$234,000 Established2012
Cash Flow$95,000 Employees3 full-time
FF&E$170,000* FranchiseNo
Inventory$1,500 RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Excellent opportunity to own this 3,200 square foot modern Performance & Health Center which has been fully upgraded. This business generated a 2015 gross income of $234,000 and a dependable net income of $95,000. Their clientele enjoys the atmosphere of relaxation and cleanliness in a well maintained facility, while being treated with respect by our professional staff. They offer some of the most advanced fitness equipment in the area and provide only the finest exercise apparatus, friendly attentive service in a state-of-the-art fitness center. Their goal is to provide a refreshingly positive workout experience and change the way people view health clubs. Based on the asking price, required down payment and net income this business should supply a dependable return to the owner operator prior to debt service. This is an excellent safe business opportunity.This facility consists of 3,200 square feet in a commercial setting with a clean modern appearance. The center has been designed for various types of training in separate areas of the facility. The Gym has modern locker rooms and showers and is fully equipped to supply the best possible service. This business is located in an affluent area of Morris County, New Jersey on a convenient active county road close to Route 206 and Route 80. This Gym is located in an excellent area of the county and services numerous communities with a continued demand for this personal service. The business assets have an estimated value of $170,000 which is based on replacement cost which includes 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 building has a capacity for 90 members, 3,200 square feet on one main floor and no basement and there are currently approximately 300 members. This fitness business requires one full and two-part time employees plus various personal trainers who are unaware of the pending sale and expected to remain post closing. This business location has substantial private parking on the site and part of the lease. This fitness center is operational seven days weekly with hours from 6:00 am to 9:30 pm. This particular industry does not require any particular license other than a certificate of occupancy to conduct its day to day operation. The business has an assignable 6-year commercial lease plus options, expires November 30, 2019 with a monthly rent of $4,986 and a rent security of $8,000. The business will continue to develop with its ongoing marketing system and onsite management representing an increase to the bottom line income. This general area has limited competitors and the seller has agreed to supply an appropriate non-compete agreement to the new operator. The seller will remain after closing and supply a satisfactory transitional period. The 2015 gross yearly income is $234,000 and a yearly net income of $95,000. The business has been valued at $225,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment. The sale of this business is confidential all viewings are by appointment only, photo may not represent the particular business advertised.
Facilities:This facility consists of 3,200 square feet in a commercial setting with a clean modern appearance. The center has been designed for various types of training in separate areas of the facility. The Gym has modern locker rooms and showers and is fully equipped to supply the best possible service. This business is located in an affluent area of Morris County, New Jersey on a convenient active county road close to Route 206 and Route 80. This Gym is located in an excellent area of the county and services numerous communities with a continued demand for this personal service.
Competition:This general area has limited competitors and the seller has agreed to supply an appropriate non-compete agreement to the new operator.
Growth Potential:The business will continue to develop with its ongoing marketing system and onsite management representing an increase to the bottom line income.
Training/Support:The seller will remain after closing and supply a satisfactory transitional period.
Seller Financing:Seller financing is available to qualified buyers.
Sale Reason:The owner has been recruited for employment by the NFL.
Ad #88151
Seller Reference #FITN210
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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