24 Hour Fitness Center

Not Disclosed, NJ
Morris County


Asking Price: Annual Revenue:
$275,000 $198,092

Recreation: Gyms, Health & Fitness, Sports


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RE: 24 Hour Fitness Center Broker: Ron Cervelli
Owner Financing is Available!
Available with an appropriate down payment.

Quick Facts

Asking Price: $275,000
Annual Revenue: $198,092
Net Profit: Not Disclosed
Cash Flow: $103,000
Total Debt: Not Disclosed
FF&E: $100,000
Real Estate: Not Disclosed
Year Established: 2017
Employees: 3
BBN Listing #: 48703909
Broker Reference #: FITN292

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Business Overview:

Highly successful, fitness center located in Northern, New Jersey, Morris County. The gym is set up to be a self-operational, 24 hour facility. Each member uses a scan card door activation swipe to visit the gym anytime. There is also additional income from a supplement store that continues to grow each month. Their philosophy is with patience and persistence, anyone can achieve realistic goals, including higher self-esteem, confidence, and the body you desire. They strive to create a personal relationship with their clients and to provide encouragement, confidence, motivation, and strength to help members reach their fitness goals. Their goal is to supply the best possible service as a premier fitness center, committed to providing members and employees of all ages a fun, friendly environment. They are committed to promoting a healthy lifestyle through convenient, clean locations, state-of-the-art equipment, programs, and fun activities that provide an exceptional and unique value to our community. The majority of the business income is obtained from monthly membership fees which is a guaranteed income to the company. All of the equipment is in excellent working condition and will be delivered free and clear of any debts. The center continues to develop financially and expects a further increase with the 2019 gross income. This fitness center consist of 2-3 part time employees who are unaware of the pending sale. The payroll is based on an hourly basis, the staff is unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $1,200. The business transaction will offer an assignable commercial corporate lease which expires 2022, plus additional options available, with a monthly rent of $4,000 all in, cost per square foot is estimated at $11.43 and rent security of approximately $8,000. The 2018 yearly gross income represented by the seller owner is $198,092 and the business has a yearly net income of approximately $103,000 based on an onsite owner operator by replacing the manager. The 2019 company’s gross income is expected to be similar to the previous year. Due to several reasons a formal due diligence is recommended. Every December all members are billed a yearly fee of $39.99, which represents approximately $30,000 additional gross income. This is an excellent business opportunity which can be operated either as an on-site owner operator or a semi absentee investor.

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Property Features and Assets:

This opportunity is a two-year young successful fitness center with a 4,200 square foot facility. The gym consists of a fully equipped operation with a modern professional appearance. The business is located in a standalone building. This opportunity is in Northern New Jersey, Morris County, which consists of numerous highly populated communities with continued demand for this personal service.

Market Competition and Expansion:

To the best of our knowledge, due to various circumstances, 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. The business opportunity can be further expanded by improving the existing marketing plan and the local advertising and offering a personal training division. Additionally, the company has a limited poor non-optimized web site and if adjusted can further develop the business yearly gross sales.

Reason for Selling:

Seller is involved full-time in alternative busine

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.

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