Confidential 24/7 Fitness Center In Michigan For Sale

Description

24-hour fitness center for sale in Michigan. The business has been operating for nearly 10 years and currently has more than 1,300 active members.

Financial details

• Asking price: $295,000
• Average seller discretionary earnings: approximately $110,000
• Equipment included: seller-estimated value of approximately $75,000
• More than 1,300 active recurring memberships

The listing states that SBA financing may be available to qualified buyers, subject to lender and SBA approval.

Facility

• More than 5,000 sq. ft. currently in use
• Approximately 3,600 additional sq. ft. available for possible expansion
• Cardio equipment
• Selectorized strength machines
• Free weights
• Functional training equipment
• Locker rooms and showers

Additional amenities

• Tanning equipment
• Fitness-on-demand system
• Massage chair
• 24-hour key-card access

Operations

Experienced employees handle much of the daily operation. The seller currently runs the business with limited day-to-day involvement.

Recurring memberships provide the main source of ongoing revenue.

Growth

• Increase local marketing
• Improve membership sales and follow-up
• Add services or membership options
• Use the additional available space
• Consider additional locations in nearby markets

Reason for sale

The owner is retiring after many years in the fitness industry.

The business name and exact location are confidential and will be provided after a signed confidentiality agreement.

Due diligence

Buyers should verify membership numbers, cancellation and retention rates, historical financials, SDE calculations, equipment ownership and condition, lease terms, staffing, utilities, insurance and the terms for using the additional 3,600 sq. ft.

Any tanning services should also be reviewed for applicable operating, equipment and customer-safety requirements.