- Listed: September 30, 2014 1:20 pm
State of the art 55,000 sq. ft. full-service fitness facility on 2.6 landscaped acres in Sangamon County.
Sale includes land, a 55,000 sq ft. building with ongoing fitness center (in this location for 10 years); includes most equipment and inventory, memberships and other pertaining profit centers.
55,000 sq. ft. building on 2.6 landscaped acres, 200+ parking spaces, located in high traffic area, minutes from Abraham Lincoln Library, the main medical district of central Illinois and many state office buildings. Sales includes most equipment, inventory, memberships and other pertaining profit centers.
Asking price: 1.8M
Business location: Within 1.5 miles of larger medical district, minutes from downtown area
Business State: IL
Number of active members: 2,600
Facility square feet: 55,000
Year established: 2005
How may employees: 5 full time, 11 part time, 14 class instructors, 9 personal trainers
Seller financing available; yes, with qualified buyer
About the competition; several small neighborhood gyms
Growth expansion; yes
Support training; yes
Reason for selling; Selling assets for liquidity of funds to diversify in other investments.
A Recommendation of Jim Thomas, President of Fitness Management and Consulting
by Norm Cates, Club Insider Publisher and Tribal Leader Since 1993
Jim Thomas is a talented, experienced, dedicated, determined, and very professional expert in the health, racquet and sportsclub industry. A club industry veteran of over 30 years, Jim has been a Club Insider Contributing Author since March of 2006, when he joined our Club Insider Contributing Author Team. During that time Jim has written and contributed 50 articles which have been published during our 284 months of Club Insider publishing. Jim Thomas is a truly great asset to our publication, and to our wonderful industry, and he can be trusted to deliver great results, over and over, no matter what the challenge.
When is it Time to Sell Your Health Club or Gym?
Many factors will tell you when it is time:
- Owner’s “burn out” Owner’s or key employee’s health problems
- Business relocation or rerouting of expressways
- Lease expires and you do not want to renew for another term
- Changing technology Get estate in order
- Not interested in investing long-term capital
- Children do not want to enter family business
- Largest accounts in financial difficulty
- Bank unwilling to renew credit lines
- Supplier problems
- Staff problems
- Customer’s habits changing
- Seeks retirement
- Wants to cash out and go fishing
Whatever the reason, you will need to plan an orderly transition to new ownership with less involvement on your part.
For more info, please call us at 214-629-7223.