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Fire Sale Yoga & Fitness Studio For Sale

Port Coquitlam, British Columbia
Asking Price:
$20,000 (CAD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$100,000 (CAD)
Cash Flow:
Under $50K (CAD)

Established yoga studio for sale! FIRE SALE!

The only 2 room yoga studio in the area, nearest competition is 4 km away, with only single rooms to teach!

We recently came under a building inspection from the City of Port Coquitlam and they're requesting we install a second bathroom in our current location in order to operate at our requested full capacity with our classes operating in both rooms.

The landlord has said he will assist in paying for this work, and will incorporate the cost into the lease payments each month. As the lease is remarkably low for the area and square footage (approximately 1.05 per square foot) this will be a small increase in the monthly costs (2,000 square feet of space = $2089.48 per month).

We've knocked a huge chunk off of our asking price in an effort to find someone who is excited and invested in the business. If you have the money to invest and are interested in the working with a business that almost runs itself, please continue on with more details below.

Yoga studio has:

Established instructors, reception staff and assistant studio manager. Offering 22-30 classes per week (dependent on season), featuring barre fitness classes, yoga classes and pilates classes.

NEWLY RENOVATED! New flooring, new bathroom fixtures (sink, tile and plumbing), new lockers, new computer and software and retail boutique (added revenue) recently added to the studio space.

23 months left on the lease with option to extend the term with landlord. 2 wellness rooms currently rented (month to month) with permission of landlord to outside tenants. Guaranteed rental income due to location, affordability and quality of space.

Reception staff are trained and eager to assist, Assistant Manager is trained on scheduling, sub list management and current studio software. Instructors are also trained on software for student sign in, retail purchases and new member sign up. Easy to use software with fun reporting systems to showcase how sales are running and what classes are pulling in revenue.

Work as little or as much as you like with a great team around you! Average cost of studio per month is between $5,000 (including lease and bill payments) and $7,000. Based on how much you would like to be in studio or how removed you'd like to be.

Client rate increase is scheduled for next year (current clientele are aware already) which will increase profits and ability to expand in the community. Great opportunity for an up and comer who is dedicated to building the business, expanding the community and driving sales in the studio!

The current owner has created partnerships with other fitness studios in the community and local businesses (Lululemon, Lorna Jane Active Living) to advertise and promote the studio within the area.

Property information

Real Estate:

Lease

Lease Terms:

23 months remaining on lease with the option to extend based on great relationship maintained between leaser and landlord.

Lease Rent:
$1 (CAD) per sq ft per annum
Location:

Mixed business park (commercial, retail and fitness centered).

Premises Details:

2000 square feet with reception downstairs and the studio rooms, staff room, bathroom and wellness rooms upstairs! Great staff room, 2 wellness rooms (tenants) and a tea lounge/locker room for student use. Newly renovated with great new flooring, new props, new paint and new bathroom fixtures.

Size in square feet:
2,000
Planning Consent:

Building is listed as light industrial. We lease the building from a landlord who owns the premises. We haven't removed or added any structure to the space, only painting, replacement of floors and other fixtures to refresh the studio.

Business Operation

Expansion Potential:

Options are endless! Expansion into Coquitlam, Pitt Meadows, Maple Ridge and beyond would be great routes to success for any potential new owner.

Competition / Market:

Nearest competition is 4 km away.Our clientele are those who are looking for community, traditional yoga and barre fitness! We're the only local yoga studio that offers barre classes (hugely popular among our clientele!)

Reasons for selling:

Current owner is a yoga teacher (teaches 2-4 classes per week) and is moving into the motherhood phase of her life and looking to decrease her work commitment.

The City of Port Coquitlam requires a second bathroom installed to operate on the premises. We're working with our landlord to complete this work at present. We're looking for interested buyers that have the capital to purchase the studio at the VERY reduced price and move forward after the renovations are completed.

Trading hours:

Monday - Sunday with mid-day closures. We have a morning shift with 1-3 classes (8:30 am - 12:30 pm) and an evening shift with 2-4 classes (5:30 pm - 9:30 pm).

Employees:
4
Years established:
4

Other Information

Support & training:

The current owner is happy to stay on and train the new owner on the software used in the studio. Mindbody also have a free support network that can be called 24/7 with an inquiries that are had regarding sales, classes, schedule etc. It's all in one convenient package!

Furniture / Fixtures value:
$10,000 (CAD) - included in the asking price
Inventory / Stock value:
$6,000 (CAD) - included in the asking price
Website:
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Related Documents:
Relocatable:
This business can be relocated.

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