Buying a gymnastics gym everything included

Julz882436

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I have an opportunity to buy a very successful gymnastics gym near me and I am wondering how much an average cost would be for that? All equipment, computers, AC unit, coaches/teachers, etc etc is included. The owner is also offering to stay with me for a few months to make it a smooth transition. I live in MA and this is just a gym for beginners...under 12 years old.

What questions should I be asking? I am totally new to the business world. Any and all advice is appreciated!
 

GymDadWA

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Minimum you want to see the books, find out what the AR and AP looks like. Once you know the cash flow their is a standard formula that appraisers use.

 
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Aussie_coach

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Very broad question. How big is the gym? How many students? Profit margins? Quality and amount of the equipment?
 

PreciousJ

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But don’t forget, the true cost of anything is the amount of life we exchange for it.

Owning a gym will take over your life! Do you know why the previous owner wants out?
Good point, and this seems like a particularly risky time to jump into this type of business (given the hit many gyms took during the pandemic).
 

JBS

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I have an opportunity to buy a very successful gymnastics gym near me and I am wondering how much an average cost would be for that? All equipment, computers, AC unit, coaches/teachers, etc etc is included. The owner is also offering to stay with me for a few months to make it a smooth transition. I live in MA and this is just a gym for beginners...under 12 years old.

What questions should I be asking? I am totally new to the business world. Any and all advice is appreciated!

This is all just me brainstorming...

Do you currently coach there? Do you know the business model of the gym? Do you know the customers? Is this gym a franchise? Do you have a plan? Classes... camps... birthdays... what is the plan? Do you already pull a salary from this business? How much is the current owner's salary?
  • All equipment - Really not worth much
  • Computers - Worth little to nothing
  • AC Unit - Sure... the gym needs to be climate controlled.
  • Coaches / Teachers - Are they paid enough that you can easily get new staff if they all leave?
None of that information tells anything about what the price would be. You need the books.

How about reputation... what is it rated on Google? Are you trying to maintain the reputation or coming in with an "under new management" approach?

A gymnastics facility is a passion project... buy something else if this is strictly "business" and you do not know the industry. If you are a coach and know the industry well and this is what you do and you are just struggling with the business side... then buy it if the price is right... your passion will help you make it happen.

Make sure you have enough money to lose money for quite some time... a couple years or more.

Typically a coach will never make as much as an owner.

Good point, and this seems like a particularly risky time to jump into this type of business (given the hit many gyms took during the pandemic).

Or the best time ever to get a gym at a low price.