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?
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?
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?
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?
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?
Is there an option of renewal & what period?
Yes, owner is busy with application for a further 3 years.
What is the annual escalation %?
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?
Do you require a licence?
What lease deposit and/or other surety is required?
2 Months rent
What are the main assets of the business?
Are any items not included in the sale?
What is their overall condition?
All in good working order
Do any require repairing?
How have they been valued ?
Fair market value
Which assets are on lease/HP and with whom?
Are they presently insured?
Situated in an above average income suburb. Curves is internationally known and offers women only facilities.
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.
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 698 000 Net profit : R 25 000/month
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