Summary
Inner city indoor bouldering gym. High density population zone. Over $600 000 spent on fitout. Extensive opening hours. Permit for additional cafe. Established brand and loyal membership base.
Location Details
Stonnington
48 King Street, Prahan 3181
Potential
Endless potential to grow the membership base.
Capacity to further utilise the permitted opening hours to extend operating time and attendance numbers.
Skills
No skills required as the manager takes care of the day-to-day tasks.
Hours
6am to 10pm on weekdays
9am to 7pm on weekends
Lease
5+5 year lease expiring in 2029
Employees
Loyal casual employees with proven bouldering experience including a gym manager.
Reason for Sale
The current directors are seeking other opportunities
About the Business
The acquisition of the Company’s business located at 48 King Street, Prahran, Victoria, 3181 offers a potential purchaser:
• An indoor bouldering / rock climbing gym with the following highlights:
o Over $600 000 spent on fit out.
o Its offering is unique in that there are few businesses in Victoria offering a full bouldering rock climbing experience which does not involve the use of ropes and harnesses unlike the majority of other “rock-climbing” businesses.
o Holds an operating permit which provides for it to operate from 6am to 10pm on weekdays
and 9am to 7pm on weekends. These extensive operating hours allows for multiple daily
sessions which should boost the turnover of the business.
o Being the only Inner South bouldering / rock climbing gym in Melbourne, located in the heart
of vibrant Prahran, just walking distance from Chapel Street, makes it an ideal location for the
targeted demographic.
o Is located opposite a major new residential development comprising 445 homes, with residents moving in from March 2024.
o Wall climbing space of 42 linear metres.
§ The recurring membership base has more than doubled since January 2022.
o Established and trusted business which focusses on community, customer satisfaction and
the safety of its customers.
o All equipment is free of finance making it a hassle-free transaction.
• A fully setup and established bouldering and weights gymnasium, with an approved permit for a café, which would make the business more appealing to a further target market, e.g. parents and carers. In the meantime, a popup coffee provider is leasing a space in the premises entrance for the amount of $869, which will provide additional income of $10,428 p.a.
• Loyal employees with proven bouldering experience including a gym manager.
• Established branding and goodwill.
History
Operating since 2021, this business filled a much needed gap in the growing rock climbing market. With a shortage of venues in the Inner South, this business has become a climbing institution with a committed following.
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