Interested in buying a gym in Central NJ
I am exploring a franchise gym on sale 30 mins from where I live. At peak 3 years back, it had around 3400 members and currently is at 2900 - same they had in start of 2022. 2023 Top line was $1.14M and last 12 months is at $941K. Seller agent advised that it would need a refresh and a new lease would be signed. SDE for last 12 months was about $220K. Wondering what multiple I should consider the business at.