Mike Salerno
Anaheim, CA (USA)
Role(s):
Founder/Owner/Principal
Precision Fitness
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Startup
Location:
Anaheim
Industry:
Healthcare
Year Founded:
1993
Number Employees:
1-10 people
Description:
Fitness franchise looking to fund our franchisee's. We sell the gym for $70,000 turn key. It costs us $40,000 out of pocket for equipment an startup costs each gym. We charge 15% interest for 5 years on the $70,000. The fitness equipment is worth $22,000 of the $40,000. We make $30,000 profit for the sale and 15% interest on a $70,000 note profit at the end of 5 years is $59,918 off of a $40,000 investment.