Do you guys think an Anytime Fitness Franchise is worth $390,000?
- Thread starter farquhar
- Start date
Do you guys think an Anytime Fitness Franchise is worth $390,000?
Survey says.....NOT ANYTIME SOON.
Survey says.....NOT ANYTIME SOON.
It's been more than six months since I started this thread; the guy who owns this Anytime Fitness Franchise couldn't sell it at $390,000.
He fired his old agent and hired a new one; and dropped his price by 15.5% to $329,000.
For sale: #3 -3087 WINSTON CHURCHILL BLVD, Mississauga, Ontario L5L2V8 - W6662584 | REALTOR.ca
Now, he doesn't even bother to quantify the amount of memberships he has; only to say that you can "enjoy a steady cash flow as membership reaches record levels."
That statement, of course, doesn't really mean anything.
He fired his old agent and hired a new one; and dropped his price by 15.5% to $329,000.
For sale: #3 -3087 WINSTON CHURCHILL BLVD, Mississauga, Ontario L5L2V8 - W6662584 | REALTOR.ca
Now, he doesn't even bother to quantify the amount of memberships he has; only to say that you can "enjoy a steady cash flow as membership reaches record levels."
That statement, of course, doesn't really mean anything.
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Just my two cents, but a friend of mine owned a local Anytime Fitness Franchise in Mid-Michigan and she sold it for less than $280k pre-pandemic despite having 200 memberships at the time. It looked like it was a great way for her to earn passive income.
I suppose if you hire a Full-Time Manager to deal with all the admin work, then yes, it could be a passive income play.
The guy who owns this Anytime Fitness franchise in Mississauga is an ex-CFL'er. I wonder how much he actually nets per year. The only other way to get a return on your Capital is to sell the Franchise for more than what you bought it for.
He definitely wants out of it if he is willing to drop his asking price by $61,000.
Talking about passive income plays, if I have $329,000 to invest I can put that in a good old fashioned Bank GIC right now and earn 5% with no risk.
What would be the Return on Investment from an Anytime Fitness?
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Equipment lease is probably coming up, and being a franchise they may require you to upgrade the equipment. Not only that the building lease? What are the terms on that? Most likely coming up too, and the landlord may want to kick out any business open 24/7 due to having prompt maintenance on the lot eg. Snow removal which could open the LL to potential liabilities
Alot of things to consider when purchasing a franchise.
Alot of things to consider when purchasing a franchise.
Serious question: Is the money just for the building, or does the new property owner get the fitness franchise thrown in? Like, do they own the unit, like a commercial condo of sorts?
I mean, it could be a good business. You'd need to do some due diligence with the books to see how expensive it is and what the actual income is...
I mean, it could be a good business. You'd need to do some due diligence with the books to see how expensive it is and what the actual income is...
The space is leased; "lease terms offer renewal options until 2033." Rent is the biggest drag on the bottom line.
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The equipment is owned; not certain how often Anytime Fitness Corporate wants the equipment refreshed. Probably every 10 years. This franchise is roughly 8 years old. All he says about the building lease is that there are renewal options until 2033.
In this particular lot where this Franchise is located, you also have a Popeyes; an Auto Shop; Swimming Classes; and Martial Arts Studio.
I actually was a member of an Anytime Fitness in Oakville that ended up getting closed because their lease was on a month-to-month, and Dollarama came along and said they wanted the unit the Gym was leasing and 2 vacant ones on either side of it.
Landlord was more than happy to Terminate the Anytime Fitness lease.
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Are there any UFC gym franchises in Canada? There was one in Mississauga that closed earlier this year; from what I read on Reddit, the Owner of that Franchise wasn't very good at Managing the place, which led to its failure.
At least with a UFC gym, you don't have to bear the hydro cost of staying open 24/7 like Anytime Fitness does.
The best gym in the Mississauga area is lifetime Athletics that place has everything from rock climbing wall to basketball courts, the squash, courts, swimming pool, and some amazing equipment. The only issue with that place is that they want almost over $200 a month membership fee.
I would stay away from investing in the gyms as many of the smaller gyms are open 10 to close pretty quickly as the major corporations are the ones that control the gym industry as they are able to create very cheap prices just based on sheer number of gyms.
The current owner's track record of 300+ members and 20-30 new sign-ups monthly is impressive. Memberships at $39/month on a 12-month contract seem reasonable, potentially bringing in around $460/year per member. And you're right, the real power often lies in personal training services – that's where the gains can really add up. Considering the option to own 1/3 of the business for $130,000 could be an interesting angle too. But hey, while this opportunity looks exciting, don't forget to explore other fitness studio franchise options. It's like finding the perfect workout routine – you want something tailored to your goals and strengths.
For sale: #1-2 -579 KERR ST E, Oakville, Ontario L6K3E1 - W6673270 | REALTOR.ca
There is another Anytime Fitness franchise for sale for $279,000 in Oakville; or $50,000 less than the one for sale in Mississauga.
The franchise in Oakville supposedly boasts 400 + members.
The thing is, right up the street from this one is a Fit4Less which opened last year which is larger; has fresher equipment; and offers Memberships at prices that this Anytime Fitness cannot compete with.
That's two Anytime Fitness franchises in my area where it seems the owners are desperate to get out from under it.
There is another Anytime Fitness franchise for sale for $279,000 in Oakville; or $50,000 less than the one for sale in Mississauga.
The franchise in Oakville supposedly boasts 400 + members.
The thing is, right up the street from this one is a Fit4Less which opened last year which is larger; has fresher equipment; and offers Memberships at prices that this Anytime Fitness cannot compete with.
That's two Anytime Fitness franchises in my area where it seems the owners are desperate to get out from under it.
Starting a fitness franchise can be a fantastic idea, and it's even more relevant now because the fitness industry is constantly evolving and growing. With the right strategy and dedication, it could be a rewarding venture. Why not seize the opportunity?
