Independent Gym
Turnover circa: £AOR
Adjusted Net Profit circa: £AOR
THE OPPORTUNITY
Old Ironworks Gym, Maldon, Essex
Executive Summary:
Old Ironworks Gym, located in Maldon, Essex, is a well-established bodybuilding gym known for its modern equipment, including free weights, cardio machines, and a range of fitness classes. The gym prides itself on providing a clean, healthy environment for body development and fitness training, with a focus on personal training and weight loss.
Business Model and Services:
Equipment and Facilities: Offers the latest machines, cardio equipment, and a large free weight section with dumbbells ranging from 5kg to 60kg. The gym includes Hammer Strength, Cybex, Power Fabrication, and Hoist machines.
Personal Training: A strong team of personal trainers provides guidance and support for weight loss, fitness, and bodybuilding goals.
Additional Amenities: Features a tanning room and offers classes such as Circuits and Maldon Bounce.
Membership and Pricing:
Monthly Membership: £40 per month.
Quarterly Membership: £109 every three months or £35 per month via direct debit.
Bi-Annual Membership: £175 every six months.
Annual Membership: £331 per year.
Pay As You Go: £8 per session.
Inclusions: All memberships include access to classes, free Wi-Fi, and free car parking.
Membership Registrations: 650 members to the gym.
Location and Operational Details:
Address: Fullbridge Road, Maldon, Essex, CM9 4LE.
Opening Hours: Mon-Thu: 05:45-22:00, Fri: 05:45-21:00, Sat: 07:00-17:00, Sun: 08:00-16:00.
Customer Feedback:
Positive reviews highlight the gym's accommodating opening hours, welcoming atmosphere for newcomers, and friendly nature of both staff and members. The gym is described as an ideal place for both regular gym-goers and those new to fitness.
5* Rated on Tripadvisor
5* Rated on Facebook
5* Rated on Google
Market Overview: Gym and Fitness Industry
Current Trends
1. Growing Health Consciousness: There is an increasing awareness and emphasis on health and wellness, driving more people to join gyms and fitness centres.
2. Technological Integration: The rise of fitness apps, wearable technology, and virtual training sessions has transformed how individuals approach fitness.
3. Personalized Training: Demand for personal training and tailored fitness programs has seen significant growth, with individuals seeking more personalized fitness routines.
4. Group Fitness Classes: Group activities like yoga, palates, spinning, and aerobics continue to be popular, drawing diverse groups of gym-goers.
5. Wellness Programs: Gyms are increasingly incorporating wellness services such as nutrition advice, mental health workshops, and relaxation areas to offer a holistic approach to health.
Challenges
1. Competition: The gym industry is highly competitive, with a range of options from luxury gyms to budget-friendly local centres.
2. Retention Rates: Keeping members engaged and retaining them long-term is a constant challenge for gyms, especially with the rise of short-term membership models and pay-as-you-go options.
3. Technological Adaptation: Keeping up with technological advancements and integrating them into the gym experience can be costly and require ongoing updates.
Opportunities
1. Niche Markets: Targeting specific groups, such as seniors, teenagers, or fitness enthusiasts, with specialized programs can create new growth avenues.
2. Corporate Wellness Programs: Partnering with businesses to offer corporate wellness programs can be a lucrative opportunity.
3. Expanding Services: Diversifying services to include things like health and nutrition counselling, spa services, or childcare can attract a broader client base.
4. Community Engagement: Hosting community events, fitness challenges, and social gatherings can enhance customer loyalty and attract new members.
Potential for Growth:
The gym and fitness industry is expected to continue growing, fuelled by increasing health awareness and a broader understanding of fitness's role in overall well-being.
Innovation in fitness equipment and training methods provides room for gyms to evolve and attract a diverse membership base.
This Opportunity:
The gym and fitness industry is dynamic and offers significant opportunities for growth, especially for businesses like Old Ironworks Gym that can adapt to market trends and meet evolving customer needs. While competition and technological advancements present challenges, they also offer avenues for innovation and expansion.
The industry's future looks promising with a continued focus on health, wellness, and personalized fitness experiences.
Management and Employees:
The business is managed by the owner, who is supported by a team of nine staff. The opportunity is open to introduce a full-time manager, which would reduce staff costs overall and manage the business for a hands-off operator.
PREMESIS:
The premises is a ground-floor unit off a busy road with off-road parking for over 40 vehicles and is over 5,500 square feet in internal size. The premises are available by way of an assignment and a 3-year lease.
The vendor has made significant improvements to the property and introduced a host of commercial equipment and furnishings that offer a welcoming and user-friendly feel to guests.
Equipment that is included in the sale of the business will be provided via inventory to serious interested parties.
Viewing is essential to appreciating the quality of the business on offer.
FINANCIAL INFORMATION:
Detailed financial statements will be made available to interested parties.
FURTHER INFORMATION
Further information is available by speaking with us and viewings are strictly by appointment only, as the sale of this business is strictly confidential.
For more information, please contact us.
