Fully describe the business's activities?
A unique gym that caters for a variety of different fitness fields, all fully equipped with their own area and state of the art equipment. They offer a training centre packed with a wide range of group classes. These classes include Cardio kickboxing, Kickboxing, Kids Kickboxing, MMA, Self-defense, and High-Intensity training programs, Pilates, Spinning and Boot camp.
How long has the business been established?
The owner started the business in 2015.
How does the business operate on a daily basis?
The owner is involved in the business on a daily basis and also one of the head instructors. He has employed 4 sales representatives responsible for signing up new members and concluding contracts for the various classes offered. All training classes are coached by trained staff members. All training staff gets paid for the classes that they've coached and a schedule gets drawn up between them.
How are the clients attracted to the business?
The training facility is well known in the area for their various training programs and classes offered. They also do a lot of social media advertising and rely on the sales staff to sign up more members.
Does the business have any contract work?
Yes, all members sign a 12, 24 or 36-month contract.
What competition exists?
There are other fitness facilities in the area, however not one facility offering such a wide range of fitness classes as they do.
What are the seasonal trends?
During the winter new membership sign-ups seems to be a bit quieter.
Is the business VAT Registered?
What VAT documentation is on file?
All VAT documentation are on file with the owners accountant.
What Balance Sheet and Income Statements are available?
The Financial Statements for February 2019 is available.
What percentage of the business is cash/credit?
Majority of all monthly membership fees gets paid via Debit order and EFT.
How could the profitability of the business be improved?
The business and the sales staff needs to focus on signing up new memberships. The business has lots of potential an can easily be expanded.
What is the total staff complement?
8 permanent staff members excluding the owner. All the coaches/instructors gets paid commission based on the amount of classes they trained.
Give a breakdown of staff/ functions/ length of service?
4 x sales staff (commission based) 2 x cleaners 1 x receptionist/manager 1 x assistant manager
Do any receive special perks or incentives?
The sales staff receive commission and the coaches/instructors gets paid per class. All other staff members receive a basic salary.
Do any have management potential?
The business receptionist can handle more managerial duties and responsibilities.
How involved is the Owner in running the business?
The owner is 100% involved in the day-to-day operations of the business. He also one of the head instructors in the business giving one-on-one training sessions
When does the current lease end?
The current lease ends June 2020.
Is there an option of renewal & what period?
Yes, there's an option to renew the lease agreement for another 5 years.
What are the trading hours?
Monday & Wednesday 5amâ9pm Tuesday & Thursday 5amâ8pm Friday 5amâ5:30pm Saturday 8amâ1pm Sunday 8â9am
What are the main assets of the business?
Full asset list is available for the business.
What is their overall condition?
All assets are in a good and working condition and none need repairing.
How have they been valued ?
Owners valuation has been used.
Which assets are on lease/HP and with whom?
Are they presently insured?
Yes, comprehensive business insurance are in place
- Huge variety of training classes available - Instructors are highly skilled and qualified in their fields and training provided - Competitive pricing - Large facility and room for expansion
- This business is highly dependent on sales - Owner needs someone to focus on the business management and expansion of the facility
- Introducing new classes - Membership sales
- None perceived
What is the reason for the sale?
Owner has another business opportunity which he would like to pursue.
Why is this a good business?
This is a one of a kind fitness facility with state of the art equipment and highly trained staff. There's huge scope for growth and the business has lots of capacity to grow and increase membership numbers.
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Annual Turnover Amount between R 500 thousand and R 6 million