Company: Snap Fitness Manly (QLD)
Time to sell: 6 months
Sold: Within 6% of listing price
A recently renovated, Franchise gym, run under management.
The Vendor was looking to transition out of the fitness industry to focus on a new venture; this was the second Franchise gym that LINK had sold for them.
Given the profitability of the business as well as the exceptional location and excellent management structure, the Vendor was not in a rush to sell; she was happy to wait for the right offer.
We knew the business would attract some genuine interest; however, after several viewings and multiple offers, it ended up being sold to a buyer from LINK’s database of qualified gym buyers. Once the contract of sale was signed, the deal went ahead very quickly and very smoothly.
Our broker specialised in the fitness industry. He worked with the database of qualified buyers and used LINK’s marketing tools to maximise the exposure of the listing to buyers across Australis and even internationally. The listing received enquiries from across the globe. Offers came from within Australia, with the eventual sale going to a buyer from NSW.
The business sold within 6% of the listing price and within 2% of the broker’s market appraisal.