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Fitness brand with 4 operational state-of-the-art gyms

Reference
S6244
Turnover
£1m to £2m
Sector(s)
Health & care, Leisure, Miscellaneous
Region(s)
North East England
Added
13 June 2019

Business description

The company has established four branches across the North East, with a fifth currently under construction,offering modern gym facilities and a wide range of classes.

Generating multiple revenue streams through memberships, day passes, sunbeds, supplements and rents from the barbers and masseur, the company has secure income streams in place ensuring the continued financial strength of the business.

The company has established an excellent reputation amongst its client base, providing an efficient and professional service and ensuring high levels of client retention and referrals.

Having developed the business since its inception, the shareholders are now offering the company for sale to pursue unrelated business ventures.

Highlights

  • Strong second-tier management team in place, able to manage the day-to-day operations of the business.
  • Operating within a buoyant market, with the number of gym memberships in the UK increasing by 2% to 9.9 million from 2017 to 2018.
  • Monthly membership fees enable the company to benefit from reliable income streams.
  • Operates from four leasehold premises located across the North of England,with a fifth under construction.
  • The shareholders are willing to remain with the company to facilitate a smooth handover.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2017 (Actual) 954 476
2018 (Actual) 1,212 608
2019 (Actual) 1,389 670

  • Achieved turnover of £1.3m in YE19, with net profit of £670k.
  • Turnover of £1.2m in YE18, with net profit in excess of £600k.
  • Demonstrating consistent growth, with turnover and net profit increasing year on-year.
  • As of 31st March 2019, the company’s balance sheet included net assets of £632k, with cash of £66k.
  • Opening an additional gym in 2019, which will significantly increase revenue.

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