Global Business Brokerage Inc. where you will experience a "World of Difference"
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Global Business Brokerage Inc. where you will experience a "World of Difference"
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Industry: EXERCISE - FITNESSSegment: FITNESS CENTERS - 4 LOCATIONSThis business is VISA qualified Location: Tampa Bay Area Asking Price: $2,875,000 CashGross Revenue: $3,000,000 Owner Benefit: $ 669,000 EBIT Federal Tax Returns for three (3) years and three (3) years Profit & Loss (P&L) Statements (Consolidated and Individual Location) prepared by the Business CPA Firm are available for review at the CPA's Office, after Buyer's Financial Statements are reviewed and approved and a Non-Disclosure Statement is signed. With the existing experienced organization in place, this business could be purchased and managed as an absentee or semi-absentee business. A Brief Overview of the Business and The Mission: The business mission is to become the number one choice by people who want to take control of their health and to provide the knowledge and the education necessary to live healthier and happier lives. And they are well on their way, with 4 locations, plans for expansion and clear cut goals for growth. It is hard to separate out the business from their mission, as the culture is one of a positive family atmosphere. They promote science based, clinically proven wellness programs that focus on proper exercise, nutrition and scientifically proven supplementation for the whole family, from children as well as for seniors and all ages in between. They sincerely want to create healthier and happier communities and it is evident when you walk into one of these 4 centers, that you have walked into a different type of environment than a regular "fitness" facility. Yes, they have all the high tech equipment, but the atmosphere is friendly, inviting and has a "hometown gym" atmosphere, where everyone knows your name. The Company culture is one of learning, challenging, taking responsibility, being professional, dedicated, energetic, passionate, fearless, educated and one we like the best - honest and ethical. They all work together towards the common goal of teamwork, setting goals and providing motivation. Being helpful is not just a requirement in these facilities, it is an absolute must for their employees. The Company has also tailored their marketing program to include children and seniors, the fastest growing fitness segments in the United States. They are also a one stop shop for education on fitness, nutrition, weight loss and exercise, where the entire family can go. With their senior wellness programs, they offer fitness evaluations and customized workouts to get them started. Then they provide a variety of classes and education to reach their fitness related goals. Through the years, some of the many benefits they have witnessed time and time again are lowered cholesterol levels, lower blood pressure, more controlled blood sugar, increased energy levels and major improvements in body flexibility, strength and range of movement for their customers. They not only get new clients, but also keep and maintain their existing clients. YOU BENEFIT FROM THE OWNER'S EXPERIENCE When you purchase this business, you are not only getting, new equipment, top notch facilities and great employees, but you are on the "receiving end" of the many years of experience the owner has in this business. Everything has been done for you, and it is running extremely efficiently and profitably. Although this may be an intangible and hard to value, it is an extremely valuable asset when purchasing this business. The Owner/CEO had a long history in a wide variety of business ventures. Through hands on experiences with other health clubs, she gained the knowledge and the understanding of what consumers were looking for in the health club industry from the point of view of a consumer and from being an associate of another health club. In the early 1990's the image of gyms and health clubs were not always appealing or inviting to many consumer groups. The owner determined to change the way consumers perceived the fitness industry and more importantly how customer's viewed her facilities. No longer was working out just for body builders and athletes. This business was designed in order to be an inviting non-intimidating atmosphere where the family could go and learn about healthier lifestyles together. And, she definitely accomplished and exceeded her goals. Walk into any of these four locations and you will feel a vibrancy and joyfulness that goes along with a healthy and inviting mindset, as evidenced by the continued customer growth and profitability of this dynamic Company. FACILITIES: There are four (4) locations, which are all in the same relative area - easily reachable to one another. They range in size from 16,000 to 20,000 square feet. The corporate office is located adjacent to one of the locations. Each Fitness Center is fully air conditioned with gym, state of the art equipment, including cardiovascular equipment with built in HDTVs, Treadmills, Bikes, Ascent Trainers (the evolution of the elliptical), and currently offer the latest in strength equipment, including the first signature series hammer strength in the State of Florida. Each location is set up for day care, as well as various classes, including, but not limited to Yoga, Pilates, weight training, boot camp, personal training, various other fitness classes, nutrition, weight loss and much more. Location #1 - The Hometown Gym where everybody knows your name Opened in 1996, this club has been a local favorite ever since. This fitness center provides seniors a chance to continually make improvements in their health with our senior wellness programs. By accepting most insurances through Healthway's SilverSneakers Programs and American Specialty Health's Silver + Fit Programs, they are able to provide excellent benefits for seniors and in some cases, allows seniors the membership benefits at no costs to them. Within their senior wellness programs, they offer fitness evaluation and customized workout programs to get you started. They also provide a variety of classes and group lead instruction to choose from including cardiovascular and strength training classes. Many insurance providers recognize now the benefits and proven life long results of nutrition and proper exercise. No matter what level of fitness, these Centers are the best at providing proven results driven education and classes to help everyone achieve their fitness related goals. Location #2 - This Center boasts 20,0000 square feet of exercise equipment Cardiovascular choices include 30 treadmills, ellipticals and bikes. They recently added 4 new modified upright bikes by Matrix. All pieces have a heat rate monitor and most pieces feature their own TV. The large free weight ara has a number of Olympic benches and our dumbells go from 3 to 100 lbs. They also offer 3 full circuits of equipment. These circuits can be used as a 30 minute full body workout, which makes it easy to get in and out of the gym in a hurry while still being effective. Without a lot to choose from, there is never a wait for equipment. Group Fitness Classes include spinning, yoga, pilaties, cardio pump, boot camp, zumba and more! Again, they also feature senior wellness programs. Location #3 - Opened in 2008, this health club was designed by a famous local architect With a full selection of Life-Fitness and Hammer-strength the customer has no trouble finding the piece of equipment they are looking for. This location also features 87 pieces of LifeFitness Cardiovascular equipment, including bikes, ellipticals, and treadmills. All 87 pieces of cardiovascular equipment come with their own heart rate monitor and a 17" HDTV. They also provide you with your own workout towel and do your laundry for you! Child care is available for the little family members. They also have programs for the kids through Stay Fit Kids and Family Programs. Again they also have programs for seniors, a variety of classes, trainers, and customized programs. Location #4 - The Newest Facility - opened August 1, 2010 with the latest in technology and equipment Located in a very popular and busy area, the new location features 100% brand new equipment. They have over 60 pieces of cardiovascular equipment all with built in 15" HDTV. Customers can choose from treadmills, bikes and ascent trainers (the evolution of the elliptical). They also feature virtual active technology where you can take your workout to different areas of the United States (the first in the State of Florida) to offer this. They offer group fitness classes, yoga, pilates, weight training, boot camp, personal training and much more. They also offer the latest in technology available in strength equipment as well. Their beautiful plate loaded series is candy apple red with black moving arms, even more impressive is the ergonomic design and concentrated movement and the results it provides. Again, they offer programs for the whole family from the kids to the seniors and all ages in between. Leases: There are four separate leases. The initial term of five years, plus multiple 5 year extensions result in the remaining term of the leases to actually be between 15 to 20 years for each location. (Individual Lease Agreements are available for review). Memberships: There are between 12,000 to 14,000 active members. (Fluctuation is due to the seasonality.) Property & Equipment: January 31, 2011 Consolidated Statement (Numbers are Rounded Down)
*A complete list of total assets and equipment by location is available for review. ORGANIZATION: Total 105 Employees - all 4 locations Below is an explanation of a typical organizational chart for each location (fitness facility). The General Manager (GM) of the location is the "FACE" of the club. The General Manager is responsible for day to day activities, as well as increasing membership. The GM is motivated to maintain existing membership and to increase membership through his/her compensation plan. General Manager Administrative Assistant (Reports to GM) Under the General Manager Fitness Director/Lead Trainer (who oversees the Personal Training Coordinator and 2 Personal Trainers) Fitness Consultant/Sales Manager Fitness Consultant/Sales Manager Group Fitness Director (who oversees 2 Group Fitness Instructors) Front Desk - which also oversees Day Care
The Business Owner is located in the Corporate Office, which is located adjacent to one of the Fitness Center locations. As CEO responsibilities are for overall company performance and growth/expansion of the business. There is also an administrative staff as well. There is also a COO (Chief Operating Officer) at the corporate level who is responsible for all of the support required at the four locations and for the management of the various programs in place at the various fitness locations.
Executive Highlights of this Well Established Business:
GROWTH AND EXPANSION The Company has a 5 Year Strategic Business Plan, outlining a 5 year growth plan which continues to be updated, as the business has grown from one location to four locations. (The Owner has told me that if she continued the ownership of this business, she would expand to additional locations to compliment the existing four locations. In fact, she already has specific locations in mind for the expansion). REASON FOR SALE The Owner says it is time for retirement and travel. "All the hard work has been a lot of fun and now I want to travel and enjoy my grandchildren"... the owner's words. She deserves it. She has built a terrific business, with a solid business and marketing plan, along with never wavering from her "vision". SUMMARY: As stated several times above, this business has ALL the financials and reports and tax returns to substantiate the numbers, as well as detailed expansion plans for the Buyers review. It would be impossible to summarize the detail on this website. We have presented the highlights and conveyed the facts, that these fitness centers are in great locations, have great operating criteria and are extremely PROFITABLE and this business can definitely still be grown! A proven money make and all this and it is VISA qualified. Because of the structure and staff already in place, this business can be run absentee or semi-absentee and would make a great investment. In a time when the economy is low, this business has not suffered and in fact has grown. Fitness is a recession proof business. While many people are not taking vacations, they are doing more things like massage, fitness and trying to take care of themselves. And... WHAT A PLACE TO LIVE...sunny Florida! This business is close to the Gulf of Mexico (4 Miles), great public and private schools, great churches, community and state colleges, professional sports complexes and teams, excellent theater, shopping and award winning medical facilities, as well as beautiful and affordable housing. The housing market is currently as low as you will ever find it in Florida. The Gulf Beaches are the nicest there are in the world! What are you waiting for? This business has it ALL! Disclosure of Finances Required The Seller has directed the Broker to financially qualify all potential buyers, by review of their financial statements, prior to the release of Company information at the CPA's Office. The Buyer will also be required to complete and sign a Non-Disclosure Agreement as well. No co-brokerage. This is a Florida Sub Chapter S Corporation. It was incorporated in 1996. Disclosure: Global Business Brokerage, Inc. has on file the signature and the Sole and Exclusive Right to Sell Listing Agreement, Equipment List, Lease and Cash Flow Analysis. Information provided herein has been provided by the seller. Broker has not and will not verify the accuracy or completeness of any information. Purchasers are advised to consult with their legal and financial advisors to the extent they deem necessary.
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