CrossFit 1971 Gym For Sale in Stratford, London - Established, Highly Rated, Potential for Growth
City of London, London
- Status
FOR SALE
- Date Submitted:
27/06/23
- Advert ID
515704
- Reference
B07405 / Rightbiz
- Call Agent:
- Turnover: £294,749 (£5,668 Per week)
- Net Profit: £32,846 (12% Profit margin)
Business Details
Highly rated gym in Stratford for sale
Business*** Offers starting at £200,000 ***
Please quote reference B07405
CoGoGo are delighted to welcome to the market CrossFit 1971 (Stratford), a highly rated fitness and wellness gym in Stratford, London.
The business was first established by our client in 2015, building up an excellent reputation and regular customer base. As seen by the online ratings and reviews, the business is extremely popular within the local community.
CrossFit 1971 (Stratford) has now come to the open market due to a change of direction for our clients.
CrossFit 1971 (Stratford) offers a variety of classes from high intensity Cross Fit to Olympic Weightlifting, Gymnastics, Strength Training and Flexibility Improvement. The workouts challenge their clients to work harder and exceed their own expectations. The supportive coaches focus on teaching the correct movement patterns to keep their clients safe.
The business prides itself on offering a fun and encouraging community that goes just beyond fitness and offers a range of plans ranging from monthly to 12 monthly contracts. The business also offers a range of events and can truly be said to be at the heart of the local community.
Key selling points -
- A well established with an enviable reputation and many existing clients
- Prime trading position in the centre of Stratford
- Current owners happy to offer a handover to ensure the continued success of the business
- Site is to be redeveloped which will have a massive effect on footfall. 2152 new homes being built along with a new entrance built into Stratford making the short walk to Stratford Station even shorter.
- Ideal owner managed or partnership business
- Perfect bolt on to an existing fitness business looking for a foothold in this up and coming area.
- Advertising and Marketing campaign
- Extend the opening hours (ideally 24 hours)
- Fill daytime hours with more classes
- Consider stocking a range of branded workout gear and more supplements
Location
CrossFit 1971 (Stratford) is located on Hutchins Close in Stratford and has eye catching signage, receiving high levels of footfall and passing trade.
It's in close proximity to Stratford train station and the Stratford Shopping Centre.
Premises
The business occupies generous premises ideally suited to the trade.
The premises comprise two former warehouses with toilets and changing facilities.
The premises are being redeveloped in the near future, which will include 1000’s of residential properties along with shops, restaurants and hospitality businesses. The new development will have a significant effect on the business, massively increasing footfall and in turn turnover and profits to the business (Not happening until 2028).
Tenure
We are advised that the business is being sold on a Leasehold basis, with a new lease up to December 2028. The current rent is £7,800 per month inc VAT.
Our client has advised that the developer has offered the business a new unit of its choice within the new development (Not happening until 2028).
Hours
The current trading hours are -
Monday to Friday – 6am – 9pm
Saturday to Sunday – 8am – 2pm
Staff
We are advised that the business is fully staffed with 2 x Full time members of staff plus the owner with, free lancers available to fill any cover.
Financial Profile
We are advised as per the 2022 accounts, the business generated a turnover in the region of £295,000. Further financials can be made available upon request.
Contact Agent
Listing Statistics
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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