How do I find a gym franchise for sale?

A resale gym unit is a franchise someone else already opened. Plan to use a few channels together, because a unit for sale may not be announced in one place. Decide what you want first: the brand, the area and how much travel you will accept. Then work through the sources below and keep notes on every unit you hear about.

Listing sites

Business-for-sale listing sites let you filter by category and location, and some mark franchise resales. Set up alerts for gyms and fitness studios. Treat each listing as a lead rather than a finished picture, and ask for the numbers behind it. A listing may not say that the unit is franchised, so read the details closely.

The franchisor

Some franchisors keep track of units that owners want to sell, and may refer buyers. Ask the franchise development team whether any owners are leaving, what its approval of a new owner involves and whether training is required. The Canadian Franchise Association’s directory is a place to start learning about brands.

Franchisee networks and brokers

Franchisees talk to each other. If you can meet a few owners in the brand, ask who is thinking of leaving and what they would want you to know. A broker who handles franchise resales can also bring units to you before they are advertised. Ask each broker whom they act for.

Screening a listing early

• How long is left on the lease, and may it be assigned?
• Is the equipment owned, financed or leased?
• What does the franchise agreement require of a new owner?
• What has the franchisor said about approving a buyer?

Your lawyer should read the franchise agreement and any disclosure before you commit. See how franchise purchases work for one example.