Startup Funding for Fitness Center Franchise
| Listing Information | |||
|---|---|---|---|
| Amount: | $25,000.00 | Status: | Withdrawn |
| Grade: | D | DTI: | 61% |
| Lender Rate: | 25% | Borrower: | kmik |
| Finished | State: | IL | |
| Funded: | 0% | Group: | (No Group) |
|
Purpose of loan: This loan will be used to purchase exercise equipment for a new Anytime Fitness franchise. My financial situation: I am a good candidate for this loan because this new franchise location if very promising. The Anytime Fitness Corporation is a solid company with good support for it's franchisees. There are in excess of 600 profitable franchises in operation currently. I have an excellent background and the determined attitude it takes to make a new business a success. That combined with an outstanding location convenient to a dense population of upper middle class residents and very little competition makes this a winning opportunity. My credit is less than perfect since two years ago my husband was laid off of work. We were supporting our family off of my small home based business and credit cards. After a while, we were over our heads in debt. I sold off my business and used the proceeds to settle whatever debt we could. My husband is now securely employed, and will remain in his job for many years to come. We have not had any late payments in the past year, and we are excited about this business opportunity to further secure our future. Please note that my debt to income ratio does not consider my husband's income, but it does count our joint debts. Projected Revenue and Expenses: Please review our first year projections. Our projections are conservative, and slightly below the franchiser expectations. We can be profitable in our first year with the help of rent concessions offered by our landlord. Sorry for the limited details due to size limitations. REVENUE First Year Total Cumulitive Members 700 TOTAL $288,337 TOTAL EXPENSES $205,844 NET INCOME $82,493 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 277140 | Pay Off High Interest Cards | D | $9,675 @ 19% | Feb 07, 2008 | Loan created |
|
Discussion For This Listing
|
||
|---|---|---|
|
No Comments Found For This Listing
|