Fully describe the business's activities?
The business is a people friendly, fully equipped, gymnasium looking to help improve not only client's fitness, body tone or shape but their entire life! With friendly and helpful staff always on hand to help with questions and support.
How long has the business been established?
The business has been in operation since 2004.
How long has the owner had the business?
How does the business operate on a daily basis?
The business is a people friendly, fully equipped, gymnasium catering for businessmen, students and various other citizens within a busy area in Pretoria.
How are the clients attracted to the business?
Advertisement boards Word of mouth Social Media Presence And a long standing relationship with various of our clients.
What Advertising/Marketing is carried out?
Advertisement boards Word of mouth Social Media Presence The business does however have an unutilised marketing possibility within in the area of operation.
Does the business have any contract work?
The gym currently has 231 signed members with an average growth of 20% during the last few months since the current owners have commenced utilising the growth opportunities.
What competition exists?
The gym is located in a big Pretoria suburb and is the only gym located within the area.
What are the seasonal trends?
The owner reports little variation in members throughout the year, with a slight difference in the summer, as is usual with a fitness gym.
Is the business VAT Registered?
What VAT documentation is on file?
Are there up-to-date Management Accounts available?
What Balance Sheet and Income Statements are available?
What percentage of the business is cash/credit?
100% cash, no credit provided.
What is the age analysis of the debtors book?
How could the profitability of the business be improved?
The business has an unutilised marketing possibility within in the area of operation. As per the broker's comment, this can be greatly utilised and advanced. The gym further has 2 areas for the purposes of combat and body health exercises which can either be filled more or be utilised for further gym space.
Is Seller finance available and for what amount?
The seller would accept a 50% deposit with a down payment of a further 60% over 2 years, or the remaining 50% within 3 months.
What is the total staff complement?
Excluding the 2 participating owners the gym utilises 1 receptionist, 1 cleaning lady and 2 floor managers/fitness advisors on a casual basis.
Give a breakdown of staff/ functions/ length of service?
3 of the staff members have been with the gym for more than 5 years. The other 3 have only joined in the last 3 months during the new ownership initiative.
Do any receive special perks or incentives?
The one floor manager is actually employed as a personal trainer with his salary (included in costs) paid as security against his service fee.
Are they on contract?
The receptionist and the cleaning lady are on a full employment contract.
Do any have management potential?
Yes. Three of the members have been with the gym for 3 years and understand its layout and operation well. One of the floor managers, for example, handles the opening and lockup of the gym everyday.
How involved is the Owner in running the business?
The owner is involved full time due to a passion for the business. This can easily be changed. One of the floor managers, for example, handles the opening and lockup of the gym everyday.
When does the current lease end?
31 May 2022
Is there an option of renewal & what period?
Yes, of 2 years.
What is the annual escalation %?
What are the trading hours?
Mon-Thurs: 05:00 - 21:00 Friday: 05:00 - 19:00 Saturday: 07:00 - 14:00
What is the square meters of the business?
450 square metres
Who is the Owner/Landlord?
A private company
Is a copy of the lease available?
Do you require a licence?
What lease deposit and/or other surety is required?
R35477 deposit has been paid
What are the main assets of the business?
Are any items not included in the sale?
What is their overall condition?
Do any require repairing?
How have they been valued ?
Which assets are on lease/HP and with whom?
The gym has a longstanding relationship with a lot of its current members. It is furthermore the only gym within the larger Pretoria suburb it is located, with a very big residential, as well as business footprint available.
The current business has an unutilised marketing possibility which has not yet been exposed.
The current business has an unutilised marketing possibility which has not yet been exposed. Furthermore space is available for further expansion of the gym.
What is the reason for the sale?
Change in personal circumstances.
Why is this a good business?
The business already has a good membership footprint and has a lot of growth possibility.
What is the price plus stock and the profit?
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