HIGHERPOWER Fitness Studios

Undisclosed Address, New Orleans, LA
Business Opportunity for Sale
Catylist Listing ID: 30366275
Property Subtypes: Health and Medical
Building Size (RSF): 3,500 SF
Sale Price: $800,000
In Opportunity Zone? Yes
Name of Establishment: HIGHERPOWER
Business Website Address: www.higherpowernola.com
Year Business Established: 2014
Gross Revenue: $600,000 (Annual)
Cash Flow: $35,000 (Annual)
Sale Terms: cash to seller
Last Updated: 10/2/2019

Overview / Comments

The Seller is not a fitness professional and desires to focus on other professional endeavors. The Seller is considering ALL offers. The price is NEGOTIABLE. The seller is VERY MOTIVATED. The Seller desires a SMOOTH and QUICK closing.

Company:
Founded in 2014 to create a welcoming atmosphere that brings balance to people of all ages and fitness levels, HIGHERPOWER stresses the importance of not only physical health but mental and spiritual well-being. HIGHERPOWER’s philosophy implements an East-meets-West approach that combines intense physical activity with yoga / meditation.

Acquisition Highlights
⭕ THE ONLY place in New Orleans where you can do yoga, cycling, and TRX under one roof
⭕ +8,000 customers with an avg useful life of 6-18 months, a tail of 2-3 years, with a lifetime value of $1.5MM @ only 35% capacity
⭕ Running at only 25% capacity is the breakeven point for profitability
⭕ Best value clients have been with HP for more than one year
⭕ +98% of revenue comes from top 75% of customers who use +7 services on average

Management:
HIGHERPOWER currently consists of a 5-person management group, part-time desk attendants, and +60 instructors. The company’s diverse group of employees creates an inviting atmosphere and culture of acceptance that is not often achieved in the fitness world. Many of this year’s top earning instructors have been with HIGHERPOWER since its opening in 2014, a testament to how much instructors enjoy teaching with the company.

Facilities:
HIGHERPOWER opened its first location in Mid City (3500 sqft). It is currently THE ONLY place in New Orleans where you can do yoga, cycling, and TRX under one roof.

Additional Details

Industry Segment: Health Clubs and Spas
Reason for Selling: As the owners have arrived at a crossroads to either sell or grow HIGHERPOWER, they wish to explore the market relating to a sale of both HIGHERPOWER locations or to find an investor.
Value of Inventory Included ($): $2,000
Value of Furniture, Fixtures, and Equipment ($): $585,000
Value of Real Estate Included ($): $0

Contact

Photograph of Listing Agent

Russell Bernstein

Metairie, LA
LACDB Member
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