Two Luxury Fitness Centers In Boston Metro
Two luxury fitness centers in Metro Boston are available for sale. The Company has actually established a strong reputation in the area and sales continue to grow year over year. Membership ranges from 1,600 ? 2,000 members depending on the season. Combined cash receipts for both facilities are expected to gross over $1,500,000 in 2015 along with SDE of ~$300,000.
According to IBIS World’s Gym, Health & Fitness Clubs market research report, the demand for gyms and health and fitness clubs will continue to rise over the next five years, as the general public becomes more health-conscious and the aging population places a greater emphasis on staying fit. The fitness sector is expected to grow at an standard annual rate of ~3% over the next five years and consumers are expected to increase their health consciousness through 2020, resulting in more Americans desiring to exercise.
The Company’s facilities have actually been beautifully designed and offer a higher-end fitness experience, and offers lots of amenities including a fully equipped workout area along with premium cardio equipment, over 80 group exercise classes including a private spin room, private yoga and Pilates rooms. The equipment in both locations are in excellent condition and pretty well cared for. Both locations have actually long term leases in place along with the first location around 7,000 sq.ft. The second larger location is around 18,000 sq.ft. Both leases are assignable.
GROWTH & EXPANSION
The locations do not do any active marketing, depending mostly on word of mouth, representing a huge growth opportunity for a brand-new owner. In addition, pretty little attention is being given to other axillary revenue sources such as personal training or other paid-for additional services (i.e. Pilates). A huge opportunity exists given the affluent, high discretionary spending area. In addition, adding a juice bar/pro shop would certainly provide further revenue opportunities.