This health club facility has been serving its market area since 2000 and has become the leader and most successful facility in the local marketplace. The facility includes about 58,000 square feet with four outdoor tennis courts and 2 outdoor pools. The owner, who has owned the facility since 2007 and has laid the groundwork for expanding the business as evidenced by the growth over the past 3 years, is preparing to retire. Given its past and current presence, this is a great business for an entrepreneur to earn a significant living or for a larger company to add to its current holdings.
This health/athletic facility generated over $1,350,000 worth of revenues for 2012 and is on pace to exceed that amount by a significant margin for 2013. There are significant opportunities for growth for the buyer who is motivated and willing to market correctly. There has been a significant increase in the customer base in 2013, which is supported by a committed and dedicated staff. Most all of the equipment is relatively new and in excellent condition.
The additional opportunity for a new owner is a potential increase in cash flow by refinancing the existing debt. A local lender is willing to make a loan to a qualified buyer to refinance the existing debt, resulting in a decrease of annual debt service of about $180,000. The purchase price does not include the real estate, valued at about $3,100,000, located in the most desirable part of town.