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Old 10-08-2016, 02:46 PM   #5
Andy Newell
Member Andy Newell is offline
 
Profile:
Join Date: Nov 2013
Location: Fort Dodge  IA
Posts: 3
Re: Possibly buying an existing box

Quote:
Originally Posted by Alex Burden View Post
What about all of the equipment?
The members- how long are they tied up?
Why only 48 members
Water, electricity and other costs for anything else.
Limitations in the rental agreement
What condition are the changing rooms, toilets

What fees are they paying CFHQ, affiliate fee and so on

Just to start with... To help you get a better picture.

Plus you need to know what your budget is and contingency fund
All of the current members are on year long contracts with the current owner, most pay monthly for membership.

The reason that its only 48 members right now is that the owner doesn't put the effort or time into running it. He is a chiropractor and owns an Anytime Fitness with a CrossFit attached to it in a different town, that gym has over 100 members and is doing really well. His previous partner is the one that pushed for the second location and then left the business June of 2015.

Water and all utilities are included in the rent, the box is attached to a rec center in a small town. The bathrooms and shower facilities are nice and recently updates. I am not 100% sure on limitations of the lease/rent agreement.

Currently not affiliated with CFHQ, he let the affiliation lapse because he did see the return on the money fast enough.
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