Listing ID# 101 - 87743
New Jersey
Asking Price:
$100,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,400,000
Cash Flow:
$100,000
This full-service, immaculate fitness club for sale was established in 2001. It has been owner operated by one individual since it's inception, and offers services including: Cardiovascular & Strength equipment, 40+ Group Fitness classes weekly (including Spinning, Boot Camp, Circuit training, Zumba, Barre, Yoga), Personal Training, Fitness Evaluations & Fitness Movement Screens, Massage Therapy, Nutrition Consultations, Child Care and full service locker rooms with showers, steam room, towel service and full amenities. Proprietary software for fitness evaluations is used by all Personal Trainers to create exercise prescriptions and track fitness improvement over time.
This club is a turn-key operation, with all systems in place and reliable staff. Several of the staff have been employed by the club for 5-13 years. The club has no debt, and has a 4 additional years on the lease as well as two 5-year renewal options.
Property information
Real Estate:
Lease
Lease Terms:
Current 5-year NNN lease expiring 9-30-2021. Two 5-year renewal options through 9-30-2031 with predetermined rent increases are also included.
Lease Rent:
$17 per sq ft per annum
Location:
Prime downtown location off main road into town.
Premises Details:
11,000 square foot facility, located in a building that contains CVS Pharmacy, Trader Joe's, Pet Smart, as well as Physical Therapy offices, and a high-end outpatient surgery center. Club has unlimited parking, and building is well maintained.
Size in square feet:
11,000
Planning Consent:
Space is approved for use as a fitness facility.
Business Operation
Expansion Potential:
There currently exists office tenants adjacent to the existing space. Should they vacate, additional 3000-4000 square feet of space could become available for expansion.
Competition / Market:
There are only a few large fitness clubs in the area that offer full-service facilities. Blink is located 1 town away, but they do not offer classes and their monthly pricing is much lower. YB Fitness is a full-service club located 1 town away, but most members of ours would not consider driving there. Other forms of competition are smaller, boutique yoga studios and spinning clubs, which are not full-service facilities.
Reasons for selling:
As the sole owner, I have been operating this club since opening October 2001. I am ready for a new challenge.
Trading hours:
Monday-Thursday 5:30am-10pm; Friday 5:30am-9pm; Saturday 7am-6pm; Sunday 7am-5pm
Employees:
47
Years established:
15
Other Information
Support & training:
All facility operations including inventory systems, computer software, website management, marketing and advertising materials, spreadsheet tracking and payroll entry will shared and taught to buyer. All operations are turn-key, and all operations are highly organized.
Furniture / Fixtures value:
$100,000 - included in the asking price
Inventory / Stock value:
$5,000 - included in the asking price
