City Fringe Eastern Suburb
For Sale $380,000
Steve Lentin

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Accord Business Brokers
Unit 3, 22 Fallon Street,
Caulfield, VIC 3162

City Fringe Eastern Suburb

Beauty/Health for sale

City Fringe Eastern Suburb, VIC

For Sale $380,000


Business Details


A New Direction and a New Image
The gym has just completed a changeover to operate as a 24 hour facility. This has resulted in a far more effective and cost effective method of operation. Staff has been reduced to one part time person. The website has been upgraded and all memberships (both direct debit and paid up front) are sold online through computer, tablet or smart phone technology and provides for one stop online registration of new members. It leads the customer through the process including health questionnaire, terms & conditions of membership and the purchase of the members’ 24 hour access key tag.

Asking Price
The asking price after payout of all finance and loans is $395, 000.

The business is open 24 hours per day, seven days a week, 52 weeks a year.

Revenue streams arise from:

• Personal Training Rental.
• Sale of 24 hour access key tags.
• Rental from third party group classes.
Market / Customer:
Most members are residents of the surrounding area. Current membership is 850 plus active members. The breakdown of current membership is:

• Active paid upfront 221
• Active direct debit 629


The premises are 800 square metres in extent, all on one level.

A new lease has just been signed. Rent has been re-negotiated from over $8, 000 per month to $6,930 per month. The initial lease period is for 7 years, with a 5 year option for renewal. Annual rental increases at the CPI rate, with a market review when the option is exercised.

In addition to the main gymnasium floor, there is a reception, office, kitchen, storeroom, assessment room, group fitness room, male and female change rooms, each with 3 showers and a sauna, and lockers. It is fully air conditioned.

Plant/Equipment / Fittings:

All cardio equipment is rented, and at the end of the rental period, the business has the option to continue renting at a lower price, purchase the equipment or upgrade it to the new models. The vendors will pay out any balance owing on this equipment. If the new owner continues with the same equipment, a reduction in rental of about $700 per month will come into effect. All other equipment is fully owned and paid for.

Management / Staff:

All group fitness instructors are contractors eliminating major administrative problems as well as superannuation issues. There are currently seven contractors.

One of the contractors is available from 4 p.m. to 8 p.m. to handle trial sessions and personal sign ups.

All membership issues are automated through the IT system and internet and can be monitored and operated from a laptop computer or smart phone.

Further Information:

To receive additional information on this business, please contact Steve Lentin:

Telephone Click to call
Fax Click to call
Mobile Click to call
Email Click to email.

Summary »

  • Business Category: Beauty/Health
  • Business Sub Category: Sport Complex/Gym
  • Turnover: 400000
  • Business Selling Price: $380000
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Accord Business Brokers
Unit 3, 22 Fallon Street,
Caulfield, VIC 3162

Phone: 03 9569 2883
Fax: 03 8677 0868

Steve Lentin
Phone: 03 9569 2883
Mobile: 0419 910 099

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