PENDING SALE (4/3/19)700+ members $250K p/year gym in Prime Location!!

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Profitable business in unbeatable area. Make an offer!
Asking Price:
$250,000

Gross Revenue:
$247,387
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed
included in asking price

FF&E:
$300,000
included in asking price

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Business Description

700+ member fitness center in Redmond, Washington. Excellent location in upscale shopping center, surrounded by high-end neighborhoods in an area that just continues to grow. Rare opportunity to bring your name/logo and ideas to an already established business. Originally opened in 2006. Franchise agreement terminated at the end of 2018. Now privately owned, just not renamed. Amazing potential.

LOCATION
Just off of Avondale Road near 116th in Redmond. Gym shares building with PCC and is directly across from Starbucks in the high foot-traffic mall. Location offers unmatched convenience for surrounding area residents due to lack of nearby commercial property and also provides an easy fitness option for Seattle commuters living in Duvall, Snohomish and Woodinville.

DEMOGRAPHIC
Extremely diverse area consisting of many one-income families. Average age 35-55, employed in the tech industries. Also a very environment and health focused community. High demand for group classes at location with many stay at home parents.

FINANCIAL
With increased marketing, both membership and profits have been on rise since 2017, however total revenue has declined.

Explained: In 2017 the gym employed 2 personal trainers. The head trainer made up for more than 75% of gym's PT revenue, which was close to $80K in 2017. Of that 80K, the gym received less than 20K thanks to taxes and agreed 75/25 split with trainers (75% going to trainer).
Near the end of 2017, our lead trainer left the industry altogether and gym has yet to recover its training side of the business.
However, in 2018 membership spiked and since gym retains 100% of membership revenue, the overall profits increased.

2017
In 2017 with two personal trainers (one FT, one PT), annual revenue was around $240k with little earnings for gym.

2018
With increased marketing and several successful promotions throughout the year, membership continued to rise along with overall earnings. Each quarter was an improvement from the one before with owners monthly net profits averaging anywhere from $1,500-$5,000 p/month depending on marketing the month prior.

About the Business

Year Established:
2006
Number of Employees:
3
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
4,000
Rent:
$6,900.00 Per Month
Facilities:
FACILITY
Approx 4,000 sf with long rectangle shaped layout. Main gym area is about 150' in length and 30' wide. Men's and women's restrooms and two office rooms in rear of gym. Perfect for massage therapist, nutritionist, etc.

EQUIPMENT
Full Cybex commercial gym package featuring plate loaded, free weight and cable machines. Matrix treadmills, Precor bikes, Cybex ellipticals, Espresso "video game" bikes w/26" HD monitors. 43"-60" LCD's throughout gym. Complete free weight setup. Approx. $300K in equipment (original msrp). Inventory list upon reques
Website:
youtu.be/fIPizxo6HU8
Market Outlook/
Competition:
Very little if any thanks to location and no possible locations for future competitors. Street marking extremely effective thanks to Avondale traffic in already populated area.
Growth & Expansion:
Surrounding area continues to grow. Redmond continues to be among the fastest growing cities in the state of Washington.
Contact the Seller

About the Sale

Reason For Selling:
No passion or time for business.
Training/Support:
Owner/manager will provide two weeks, full-day support if needed. Current manager and personal trainer wish to continue working at location for new owner.
Seller Financing:
50% Due at signing, with remainder over 24 months

Listing Info

ID:
1437286
Ad Detail Views:
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Business Listed by
Anthony Curcio

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Source: Decennial Census (2010), United States Census Bureau.

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