"Selling your business is our business"
"Selling your business is our business"
Fully describe the business's activities?
Consists of two health and fitness gym branches focused on boxing and kickboxing training programmes. The business has an online store selling branded apparel. The gym hosts online training sessions available to existing clients.
The current concept and brand strength make franchising an attractive option.
âThis is not the usual gym routine â this is the ultimate fitness training, designed to work for everybody.â
How long has the business been established?
5 years
How long has the owner had the business?
Since inception.
How does the business operate on a daily basis?
Trainers give classes throughout the day. There is also personal training options available.
How are the clients attracted to the business?
The brand is well established and well known throughout SA and Africa. Various marketing campaigns draw new membership.
What Advertising/Marketing is carried out?
Social media, TV, email and influencer.
Does the business have any contract work?
Clients sign contracts to train at the gym.
What competition exists?
Various boutique and commercial gyms.
What are the seasonal trends?
Slight dip in winter and over December/January.
How did the Covid-19 pandemic impact the business turnover / daily operations?
Decrease in turnover and membership.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Covid protocol has been implemented.
Is the business VAT Registered?
Yes.
What VAT documentation is on file?
Up to date vat records.
Are there up-to-date Management Accounts available?
Yes, available to qualified buyers.
What Balance Sheet and Income Statements are available?
Current and history.
How could the profitability of the business be improved?
Increased members. Franchising,
Is Seller finance available and for what amount?
No.
What is the total staff complement?
11 staff between both branches.
Give a breakdown of staff/ functions/ length of service?
2 Owners/managers
5 trainers
2 admin/sales
2 cleaners
Are they on contract?
Certain staff.
Do any have management potential?
Yes.
How involved is the Owner in running the business?
Very involved.
When does the current lease end?
Branch 1: 2021
Branch 2: 2024
Is there an option of renewal & what period?
Yes. 3 year renewal option
What is the annual escalation %?
8%
What are the trading hours?
5am to 7pm
What is the square meters of the business?
Branch 1: 590sqm
Branch 2: 450sqm
Is a copy of the lease available?
Yes.
What lease deposit and/or other surety is required?
2 months rental.
What are the main assets of the business?
Training equipment
Are any items not included in the sale?
Asset list will be provided.
What is their overall condition?
Great working condition.
Are they presently insured?
Comprehensive insurance.
Strengths?
Brand strength. Both in great locations with good membership base. Franchise model in place. Online store is an added revenue stream.
Weaknesses?
Current limitations with numbers. Will increase in 2021.
Opportunities?
Build on digital platforms.
Franchising.
Increase current client base.
Threats?
General gyms.
What is the reason for the sale?
Owners are relocating.
Why is this a good business?
Great lifestyle business with good profits.
What is the price plus stock and the profit?
R4 400 000-00 excluding stock.
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