Solid business opportunity as an onsite or absentee owner operator for a upscale resort style Franchise fitness center located in a prime area of Bergen County, New Jersey. The franchise name is renowned & established, and this facility is top notch; providing quality customer service with state of the art equipment. The facility offers a large variety of physical training equipment and their business services includes personal training, cardio training, tanning, child fitness, child care services, a juice bar and much more. The center’s friendly and informative staff strives to motivate and inspire members in this spa-like setting to improve the customer’s health and well-being for long lasting results. The center is newer and continues to develop its membership with approximately 3,000 members currently enrolled. The business generates large sales figures and is expected to continue to develop and expand. The seller is a corporate semi absentee investment group. For Qualifications purposes, this industry does not require government licensing approval to purchase or operate. This company has seventeen full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $17,000. The business has an assignable commercial lease which expires January 31, 2030, plus additional options, with a gross base rent of $22,637, and rent security of $96,000. The building has a large capacity of members consisting of approximately 11,300 square feet with various workout sections. The business is in a free stranding commercial facility, on an active county road and state highway and has an estimated capacity for 550 customers. The business fixed assets has an estimated value of approximately $445,000 which is based on equipment and licensing replacement cost. This transaction consists of a fully equipped commercial fitness center, which includes the required licenses, a wide selection of exercise equipment, web site, social media venues, displays, shelving, POS system, tables, computers, software including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. The facility has appropriate private mall parking on site as part of the commercial lease. This successful fitness business operation is active seven days per week, with hours from 5:00 am to 11:00 pm. The sale includes all required documentation including a certificate of occupancy from the local municipality and the required state or city licenses to conduct its day to day business. The 2017 yearly gross income is $1,150,000 and the business has a yearly net income of approximately $177,000 based on an onsite owner operator and prior to any debt service. The business has been valued / priced at $699,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent.
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