Listing ID : 435505
Broker ID : 2736
Listed On May 23, 2024 1761
Listing Updated October 21, 2024
Our firm is proud to bring to market a package of independently owned gyms located in S/E Michigan. These well-established gyms are renovated and fully equipped with state-of-the-art equipment. In 2023, the gyms generated sales of over $1.8 million and a cash flow of over $600,000 for the seller. These gyms feature large workout spaces, multiple exercise machines, free weights, personal training subscriptions, and a variety of fitness classes. Each gym has managers who oversee day-to-day operations along with multiple personal trainers.
Sales have continued to increase as memberships rise and personal training demand grows. Year-to-date sales for the first four months of 2024 are up 11% over 2023. Full-year sales for 2024 are projected to exceed $2 million. Membership plans include annual and 2-year memberships, with most personal training memberships on an annual basis. The majority of clients are on an EFT payment subscription, which helps the month-to-month cash flow grow.
The gyms are located in prime areas with high foot traffic within plazas and are surrounded by numerous residential homes, attracting many local clients. There is significant potential for a new owner to grow the business by offering additional classes, more retail items, and hosting events. An SBA lender has qualified this sale for financing to a qualified purchaser with a 20% down payment.
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