Contact: Tim Carter
Email: [email protected]
Your Reference ID: TC1111517
Newly available are two profitable locations of a leading national franchisor (over 2000 locations worldwide) of 24/7 fitness centers. Unfortunately the current seller/owner/operator of these successful locations has recently suffered a significant health setback. As a result the seller needs to simply her life by selling her attractive operations.
Located in two desirable communities outside of Lansing, MI, the facilities are about 15 minutes apart. The businesses opened with over $400,000 of new equipment, furniture and computers, and build-out investment. Over the last three years, the growing business has a normalized annual SDE (the historical, normalized cash flow available to pay an owner-operator and service debt) – of $84,000.
The business has excellent security systems in place and comes with a huge array of state of the industry equipment, including tanning. On-line tools are always available for members who cannot get to the club’s inviting atmosphere (which includes private bathrooms).
The owner/operator works an average of 30 hours per week and splits her time between the two locations. Three part time employees work 25-30 hours a week assisting members and selling new memberships. The business offers its clientele a range of services from 24/7 access to one’s own workout regimen to structured individual sessions with part time personal trainers (some of whom are independent contractors) as well as group training sessions.
The business is being offered for $195,000 which is significantly less than the cost of the original equipment and only 2.2x SDE. The vast majority of revenue is received via monthly electronic fund transfers directly to the businesses bank account – a very attractive feature of the business model. In addition, a meaningful seller note will be available for qualified buyers.
To learn more about this cash flowing business opportunity with tremendous growth potential, please contact Tim Carter at: Tim@praxisbb.com or directly by phone at 616-560-1080.
Location(s): Lansing, Michigan
Asking Price: $195,000
Cash Flow: $84,000