Description About This Posting: Yoga Fitness Center
In business for over two decades, this Silicon Valley iconic yoga studio enjoys an impeccable reputation and a loyal following from among its affluent and upscale neighbors. With yoga and similar classes scheduled throughout every day, a 'state-of-the art' facility, a highly-respected world-renowned instructor training program, and professional instructors with the highest of credentials, this business is an extraordinary investment.
The owner-operator has owned this business for several years and has invested extensively in its tangible and intangible assets. The business is operated on a semi-absentee basis with a cadre of long-term staff and instructors who would definitely stay for a new owner. Several of these are on the faculty of Stanford.
The database includes many hundreds of highly-satisfied recurring customers. This includes hundreds of people affiliated with Stanford University and Stanford Medical School.
2015 sales were approximately $645,000 and generated approximately $120,000 in seller's discretionary earnings ('SDE').
The owner is involved in a new medical-related start-up and decided to curtail much of the Teacher Training Program in 2016 to devote time to the new venture. Consequently, 2016 sales were approximately $591,000.
According to the performance from January through July, sales for 2017 are on track to be over $670,000, with most of the increase over 2016 being for regular repeat local customers (not Teacher Training). The owner estimates the SDE ('Seller's Discretionary Earnings') for 2017 to be well over $130,000, for a semi-absentee owner.
Detailed financial information, including P&Ls for 2013, 2014, 2015, 2016, and Q1&Q2 of 2017, will be shared with a prospective buyer upon meeting with the seller and the broker.
The 'main street' facility is rented at a favorable rate and the landlord is expected to welcome a new owner and to negotiate a new lease compatible with the new owner's needs; 6 years remain on the existing assumable lease. There are two fully sound-proofed studios, each of which can be used independently of the other. There is potential for additional income from rental of one of the studios, on a per-hour or per-diem basis, for dance instruction or similar activities when not needed for yoga instruction.
The current owner will be very open to negotiating a period for training and transition as necessary for the new owner.
The price is $225,000 1/2 1/2
This is a discounted price (33% of anticipated sales, less than 2x SDE) in return for an expedited closing so the owner may dedicate all his attention to his new venture.
This sale will be of the entire business of the company except as described below. The sale includes all assets and equipment, supply contracts and relationships, customer contracts, database, intellectual property, name, website, domain names, etc. It does not include cash, accounts payable, accounts receivable, or security deposits; retail inventory is extra at actual cost.
Nor does the sale include the Teacher Training Program. The Buyer may choose to also take over the Teacher Training Program at no additional cost for o full-price offer. Or, optionally, the Buyer may choose not to take the Institute and enter into an agreement with the Seller lo sub-let part of the facility to Seller for Seller's continuation of the Program. This is all negotiable and subject to the absolute approval and discretion of the Seller.
For a serious buyer with a cash offer, the seller may be open to reasonable negotiation in return for an expedited transaction. Some seller financing may be available to a qualified buyer with sufficient collateral.
Note: All data on this business are provided by the Seller for information purposes only, and no representations are made by the Broker as to accuracy. The Broker has made no independent verification of the data contained herein. The Broker represents the Seller and does not represent the Buyer. The Buyer is advised to perform independent due diligence and seek the advice of professionals prior to purchasing.
To get more information about this Yoga Fitness Center business for sale in
San Mateo County please phone Tim Cunha (Intermediary, Broker - BRE License #:01919755) at 650-600-3751 - if you get
voicemail please leave a detailed message - make sure you mention you
saw this posting/ad #221279 on BizBen.com. In addition to phoning
Tim Cunha, make sure you email Tim Cunha above to get more info about this
Yoga Fitness Center, to ask any questions or request an appointment to see this
business for sale, franchise, or opportunity. Thank you.
Related Links And Information Regarding This Posting
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