I Live in a rural area of arkansas, own a large building and need to put some type of business in it?
it was built as a restaurant 8 years ago has some kitchen/restaurant type equipment left in it but it, like industrial size stove and a few iceboxes and deep freezes. because of the rural location i dont want to try the restaurant thing again. it has been leased for the past 4 years and used as an office but lease has expired so i would rather not let it sit empty….especially when i still have 2 years of payments that are pretty high. sure wish i could come up with something i could do with it myself that could generate some cash flow without investing any real amount of money to get started. anyone out there have any ideas at all?
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I am thinking of buying this local gym. Do you think it is a good idea? ANY help would be great! thanks!?
I do not have the funds to buy a huge business so I’ve started looking small. I want to get my feet wet so to speak with buying, running, and then selling a business.
I have come across a local gym that has been there for 28 years. They have a website and an established brand. The asking price is ,000. The rent is 00 per month and the income for October was 00. There are only two pieces of equipment on lease and they are going to be bought out and included in the purchase price as well as all of the equipment in the gym. I believe the equipment alone may be worth the cost of they gym. That is all of the information I know for certain. I have just sent a follow up email asking for the financial statements for the past 3 years, for the number of employee’s and their total monthly salary, and for the business’s current liabilities and monthly expenses besides rent.
I have also asked very humbly how many hours each week the owner needs to put in and what is the real income of the owner after all of the expenses each month, just to get a better picture. Hopefully that wasn’t too much to ask?
My thoughts are that if it only requires 20 hours or so a month to make 00 a month, it seems a pretty good deal. I would also consider getting rid of an employee and assuming their hours at the gym in order to increase my personal income. I was told that the owners are a husband and wife (owned for 8 years now) and they are selling because the husband is an executive working 60-70 hours a week while going to school at night and that the wife is a stay at home mom and that they do not have the time to manage the gym, although it has pretty much run itself they say.
Sorry to be so lengthy, but that is all of the information I have. I would love to hear what all of your thoughts are on this purchase and how much you really think I’d make here. Of course, if it ends up requiring 50 hours a week to make K a month, I’ll turn it down. I cannot see very many other opportunities though within my price range of -40K. I currently pay 0 a year for my own gym membership elsewhere so that would be a plus of this purchase as well.
Thank you all!
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