Opening a brand new business is an exciting endeavor, but it’s also a lot of work. You’ll have to find a location, choose a layout, build your branding, apply for permits, and so much more. Wouldn’t it be easier to buy the business after someone else has already done all the work? In many ways, the answer is yes! If you’re wondering how to find a gym business for sale, there’s good news — you have many options to choose from, each with its own pros and cons.
And after you’ve purchased a gym, you can still make it yours with personal touches like a custom gym ecommerce website. Ready to get started? Then keep reading.
The right software will help your new gym operate at its best. Book a demo to learn more.
Where To Buy A Gym: Option #1 – Franchise
If you’ve never opened a business before, the process can be overwhelming. Choosing to open a gym franchise is akin to using the business fast lane. Because the franchise has laid much of the groundwork for you, you’ll likely get where you want to be much more quickly.
- You don’t have to go it alone. Gym franchises know what it takes to be successful, and the good ones will help you every step of the way in starting your new fitness business.
- You’ll start your business with strong name recognition rather than having to establish yourself from scratch. This can help your gym gain members and become profitable more quickly.
- Starting a gym can be expensive; franchises even more so. Franchises nearly always demand a substantial upfront cost, as well as ongoing costs (such as royalty fees, advertising fees, etc.). For example, Anytime Fitness lists the initial investment for franchisees as $98,430 to $523,824. For Crunch Fitness, it’s $304,500 to $2,129,500.
- Even though you’re the business owner, you’ll get to make very few decisions about how to run your business. Things such as operations, branding, advertising, and pricing will need to be done according to your franchise agreement.
Where To Buy A Gym: Option #2 – Online Business Marketplace
It’s the 21st century, and you can find pretty much anything for sale online, including fitness businesses. Sites like BizBuySell.com and BizQuest.com are great ways to browse gyms for sale, compare prices, and gather options — all in one convenient location.
- Moving your search online means you’ll be able to find gyms for sale across the country and perhaps even internationally. You’ll be able to narrow your search by your desired price range and location.
- While you can still find large commercial gyms for sale if that’s what you want, you’ll also be exposed to much smaller fitness businesses with far cheaper price points. This can be a great entry point for buyers who don’t happen to have a million bucks in the bank.
- You’ll be on your own for the actual act of evaluating the business, negotiating the deal, reviewing the paperwork for the sale, etc. If you’re new to the business world, this can be a tall order on top of learning how to make money with your gym.
Exercise.com can help. Book a demo to get started.
Start your new gym off on the right foot.
Where To Buy A Gym: Option #3 – Business Broker
A real estate agent helps to simplify the process of buying a house. In much the same way, a business broker’s job is to aid people who want to buy a business.
- A business broker will help you find gyms for sale, negotiate the best deal, navigate the paperwork, and much more. This can be a great option if you don’t have experience in these areas.
- Also like a real estate agent, a business broker earns a commission for facilitating the business’ sale (typically 8 to 12 percent of the sale price). However, this commission is usually paid by the seller. Before proceeding, you’ll want to be clear about the terms of the commission and whose responsibility it is to pay it.
The Bottom Line: How To Find A Gym For Sale
If you’d rather not go through the hassle of starting your own gym from the ground up, there are many avenues available for buying an existing fitness business. Do your homework, get shopping, and soon that gym will be yours.
Exercise.com can help make sure your new gym turns a profit as soon as possible. Book a demo to find out more.