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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Personal Training Franchise Gym
(Recreational, Fitness Center)
Bergen County , NJ
Listed Price: $ 250,000
Listing ID: FITN258

Listing DetailsGross Revenue: $ 293,150
Cash Flow: $ 108,000
FFE: $ 126,217 (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 is relocating out of the state of New Jersey.


Training & Support:

The owner will remain post-closing to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 2013
Days & Hours of Operation: Mon.-Fri. 5am-9:30pm
Non-owner Payroll: $ 6,750
Employees: 10
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 11000
Monthly Rent: $ 6,999
Square Footage: 7800
Facilities:

The facility which consist of 7,800 square feet is in Northern New Jersey, Bergen County, in a convenient commercial building close to various highways. The facility is modern with a professional appearance and is in a mid-size commercial mall with various other active and successful businesses. The general area of Bergen County consists of various affluent and highly populated communities, minutes from the New York Giants Stadium with continued demand for this personal service.


SummaryBusiness Description:

Excellent business opportunity for this personal training franchise gym located in Northern New Jersey, Bergen County with a 2017 gross income of $293,156 and a net yearly income of $108,000 based on an onsite owner coach / operator. This personal training gym is a world-class facility conveniently located in Northern New Jersey, near the New York Giants Stadium. In their 7,800 square-foot facility they offer a broad training program that is suitable for any level of fitness and they are also attached to a Reebok retail store. The gym offers ten classes daily each designed for specific results. The facility is designed to be state-of-the-art, from equipment to accessories. The gym is staffed with the best personnel in the industry, including coaches, therapists, managers, and specialists. Their marketing strategy is pro-active and built specifically for each project with one overarching theme, to inform the world, they deliver quality, produce results, and are the best in their industry. They work with the top athletes and coaches in the world to create only the highest quality results that help their clients reach their fitness goals. They have a community of athletes, of all abilities lead by coaches who teach movement, technique, and inspire group workouts multiple times per day and they make sure every session leads to a stronger, faster, and happier you. Their mission is to create one world, encompassing the full circle of wellness: fitness, nutrition, and recovery. This industry does not require government licensing approval to purchase or operate, however franchise licensing approval is required. The business fixed assets has an estimated value of approximately $126,217 which is based on equipment and licensing replacement cost and the sale consists of a fully equipped gym, which includes displays, shelving, POS system, tables, computers, software, separate exercise equipment, 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. This personal fitness center has ten full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, and the monthly payroll is approximately $6,750. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $6,999, cost per square foot is estimated at $10.77 and rent security of approximately $11,000. The business is in a free stranding commercial facility, on an active county road, consists of approximately 7,800 square feet and has an estimated capacity for approximately one hundred sixty members. The facility has appropriate private mall parking on site as part of the commercial lease. This successful fitness center gym operation is active 51/2 days per week, with hours from 5:00 am to 9:30 pm. The business has been valued at $250,000 based on a multiple of net yearly income which includes the value of the specific business assets and seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a 35% investment return to the owner operator prior to debt service. Please do not disturb business, this sale is absolutely 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:

Although competitors presently exist in the industry, no similar personal training center is expected in this area and to the best of our knowledge, 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 business presently has a standard marketing plan, and web site, if improved can further develop the business yearly gross sales.


Financing/Terms:

Can be available to a qualified buyer with an appropriate down payment.