Business for Sale Overview:
Our client is the owner of a fitness center and sports facility in Orange County, NY. The business contains a huge assortment of fitness and sports related training amenities, unlike most anything in the vicinity. The center offers a tremendous assortment of workout equipment, heavy weight training, cardio, aerobics, a steam room, batting cage, basketball court, and daycare and massage therapy facilities as well. The owners have recently completely overhauled the entire space, making it one of the largest and modern workout gyms in the area. The gym encompasses over 18,000 square feet of space and supports over 1,400 members.
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Property Features and Assets:
The fitness club and sports training center encompasses over $500,000 in exercise equipment, 75% of which is two years old or newer. The center also contains five state-of-the-art batting cages, a basketball court, steam room, aerobics training area, cardio division and heavy weights. The lease is a transferable, triple-net lease of five years plus five (two years already up).
Market Competition and Expansion:
The fitness center is unique in many ways, but like most health clubs, competes with other businesses in the local vicinity. In recent months, a competitor has sprung up not far from the health club. This business does not have the attractive rates as does the subject health club, nor does it have the incredibly low rental rate per square foot. This competitor has a small effect on the subject business’s membership base, but not much. Since the subject business presents exercise offerings that are unavailable most anywhere in the region (including the new gym), and the membership rates are lower, members are happy to remain members at the subject health club for their workout requirements.
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.
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