Fully describe the business's activities?
This gym opens opens at 5:30 am until 8 pm giving access to members to use the facility . this is the only proper gym in the specific Boland town. The different types of exercise equipment makes this an excellent choice in town. The Seller works with two managers and who work shifts in opening and closing. They have a daily checklist wit which they operate and the owner, mainly focused on admin & finance. They all do general reception duties (telephone, queries, etc) but the owner mainly deals with admin duties (check and respond to emails, contracts, petty cash, filing, etc). Furthermore duties involve assisting members on gym floor (spotting, instruction, etc) as well as ordering of products and the basic maintenance of machines
How long has the business been established?
Almost 20 years
How long has the owner had the business?
Al most 4 years.
How are the clients attracted to the business?
This is the only fully operational gym in the town. The clients are mostly attracted by word of mouth but a small Facebook, newspaper, flyers, and posters also assist the marketing campaign.
Does the business have any contract work?
Debit order recurring model.
What competition exists?
There is another smaller, work from home lady, focusing more on classes for ladies. This is a great area for growth !
What are the seasonal trends?
Winter months are quieter but the income stays fairly constant.
Are there up-to-date Management Accounts available?
Yes - 3 years since the current owners took over
What percentage of the business is cash/credit?
85 % of the income via debit order and the balance in cash.
How could the profitability of the business be improved?
Public awareness, sales staff, renting floor space to personal trainers
What is the total staff complement?
3 staff members which includes the owner.
Do any receive special perks or incentives?
Yes, referral compensation, performance bonus
Are they on contract?
Permanent and on contract
How involved is the Owner in running the business?
The owner mainly does admin & finance and also oversee the business in general.
When does the current lease end?
Is there an option of renewal & what period?
Yes - 5 years.
What is the annual escalation %?
What are the trading hours?
Mon-Fri 05:30 - 20:00 Sat 05:30 - 12:00
What is the square meters of the business?
What are the main assets of the business?
Gym equipment and other office equipment.
Are any items not included in the sale?
Yes (one pull up bar, tools, air compressor, flatscreen tv)
Do any require repairing?
Only Fully operational Gym in Town Excellent placement Well run Debit Order System - recurring income
Seller not focused anymore. Wants to move onto a new venture.
This rural town is exploding. People are moving into the town and thus more business can come in. Start with classes for personal instructors to work with their clients. Possible other classes like CrossFit, HUBA etc.
What is the reason for the sale?
The owner wants to move onto a new venture and possibly relocate abroad.
Why is this a good business?
Health and fitness is high priority and demand People in this fast food age, wants to look better, feel better and will pay for it to happen !
Annual Turnover Amount between R 500 thousand and R 6 million