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  • Mandate: 32509
  • Added: 07 Oct 2018
  • AFS
  • 235

Curves - a gym exclusively for women

Western Cape, Cape Town
235
Mandate 32509
Added 07 Oct 2018
R 850,000* ZAR
Stock: R 0
Assets: R 65,000
R 24,042 ZAR
Geoff Hatt
Aldes Atlantic
Western Cape
Western Cape
Summary

Curves is an established concept and this gym has been in the area for 12 years and is very well known. It is situated in a safe environment, in an above average income earning suburb, within a popular well supported mall which has plenty of parking.

Curves  - a gym exclusively for women
SELLING PRICE AFS
R 850,000* ZAR
Stock: R0
Assets: R65,000
R 24,042 ZAR
Summary

Curves is an established concept and this gym has been in the area for 12 years and is very well known. It is situated in a safe environment, in an above average income earning suburb, within a popular well supported mall which has plenty of parking.

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Fully describe the business's activities?
Curves is a gym exclusively for women. All their activities are related to the health and fitnes of women.

How long has the business been established?
12 Years - Since 01/03/ 2007

How long has the owner had the business?
Since inception

How does the business operate on a daily basis?
The gym is run by a manager. Women have appointments and come to the gym regularly to excercise and follow regimes that they are introduced to in order to achieve weight loss and fitness.

How are the clients attracted to the business?
The fact that the gym is exclusively for women is an attraction for clients.

What Advertising/Marketing is carried out?
Area related flyers, advertising in magazines, internet - social media

Does the business have any contract work?
All clients operate on a term contract.

What competition exists?
There are no other gyms in the area especially not for women only.

Is the business VAT Registered?
No

Are there up-to-date Management Accounts available?
Yes - to August 2018

What Balance Sheet and Income Statements are available?
AFS's for 2016 - 18 available

What percentage of the business is cash/credit?
No credit

How could the profitability of the business be improved?
By the owner being the manager of the business and being involved in the local community.

Is Seller finance available and for what amount?
No

Is this A franchise
Yes it is a franchised gym for which there are no upfront costs but a monthly royalty fee is payable - to be discussed.

What is the total staff complement?
3 Permanent and 1 casual as needed. A cleaner once /week.

Give a breakdown of staff/ functions/ length of service?
Manager fully involved in all areas of the gym, other staff do fitness instruction, marketing, sales or whatever else is required.

Do any receive special perks or incentives?
Commission on leads and sales

Are they on contract?
3 Are permanently employed.

Do any have management potential?
All could be groomed

How involved is the Owner in running the business?
Not very involved due to health issues

When does the current lease end?
March 2019

Is there an option of renewal & what period?
Yes, owner is busy with application for a further 3 years.

What is the annual escalation %?
9%

What are the trading hours?
Monday to Thursday 6am to 7pm ; Fridays 6am to 6.30pm ; Saturdays 8am to 11am. Closed Sundays

What is the square meters of the business?
146 sq metres

Is a copy of the lease available?
Yes

Do you require a licence?
No

What lease deposit and/or other surety is required?
2 Months rent

What are the main assets of the business?
Gym equipment

Are any items not included in the sale?
Yes

What is their overall condition?
All in good working order

Do any require repairing?
No

How have they been valued ?
Fair market value

Which assets are on lease/HP and with whom?
None

Are they presently insured?
Yes

Strengths?
Situated in an above average income suburb. Curves is internationally known and offers women only facilities.

Weaknesses?
None perceived

Opportunities?
The current owner has serios health issues and is unable to pay sufficient attention to the business. A new Owner/Manager can increase sales simply by paying full time attention to sales and marketing and being in the community. Also by introducing peripheral services to the community such as free weight loss classes and breast cancer awareness outreach, will substantially increase sales.

Threats?
None

What is the reason for the sale?
The owner has serious health issues which is preventing him from paying sufficient attention to the business

Why is this a good business?
Curves is an established concept and this gym has been in the area for 12 years and is very well known. It is situated in a safe environment, in an above average income earning suburb, within a popular well supported mall which has plenty of parking.

What is the price plus stock and the net profit?
Selling price : R 850 000 Net profit : R 25 000/month

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FRANCHISE DETAILS

Aldes Atlantic

5 members
19 active mandates
Western Cape
33 Montague Drive
7441

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