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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Fitness Center, NJ Giants Stadium
(Recreational , Fitness Center)
Bergen County , NJ
Listed Price: $ 499,000
Listing ID: FITN266

Listing DetailsGross Revenue: $ 1,039,800
Cash Flow: $ 174,500
FFE: $ 445,000 (Included in Price)
Inventory: $ 2,500 (Included in Price)
Franchise Info: This business is an established franchise
Reason for Sale:

The sale is due to the owner’s relocation out of the state of New Jersey.


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.


OperationsYear Established: 2010
Days & Hours of Operation: Monday-Sunday
Non-owner Payroll: $ 17,000
Employees: 17
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 96000
Monthly Rent: $ 22,637
Square Footage: 11300
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.


SummaryBusiness Description:

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. Franchise approval is required. This company has 17 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, 2025, plus additional options, with a gross base rent of $22,637.66, $24 per sq./ft. and rent security of $96,000. This successful fitness business operation is active seven days per week, Monday-Friday 5am-11pm, Saturday-Sunday 7am-7pm. The business has been valued / priced at $499,000 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.


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.


Potential Growth:

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.


Financing/Terms:

Is available to a qualified buyer with an appropriate down payment.