Established Absentee Owned Fitness Center For Sale

Business description

This is a great business in up or down economic times. More and more people are working out and know that exercise helps maintain a positive edge and keeps stress levels low. This fitness center has been in business for over 14 years and is 100% absentee owned. With approximately 2500 active members, this facility is definitely the most popular in this southern Oklahoma town. Approximately 1 year ago the club underwent a complete renovation, business model change and new equipment was required. Since the updates and changes, the club has grown significantly and is on track to cash flow approximately $150,000 this year and over $200,000 in 2010. Note that when the lease-purchase on the new equipment is up in approximately 40 months, the buyer will enjoy an additional $5,600 per month ($ 67,200/yr) on the bottom line! Income and cash flow are annualized based on the performance during the first 8 months of 2009.

Property information

Real Estate:

Lease

Lease terms:

Lease is currently $5,819 for 15,300 square feet in a large shopping center. Options are available through 2015.

Other information

Expansion potential:

There are great opportunities to boost memberships with a proactive marketing approach and a hands on owner/operator.

Competition / Market:

Competition is very limited.

Support & training:

General Manager will stay on 30 days. Additional time is negotiable.

Reasons for selling:

The owner has relocated to another state.

Trading hours:

Monday-Thursday, 24 hours. Fridays 5am-9pm, Saturdays 8am-6pm and Sundays 11am-5pm.

Financing available:

Anticipated to qualify for SBA financing with approximately 20% down.

Furniture / Fixtures value:

$100,000 (included in the asking price)