Forums: Discussions for entrepreneurs and small business.

I need an investor who has adequate assets to acquire a recently constructed 30,000 sq. ft warehouse structure. The plan is to open an athletic club. Total costs from 4 to 5 million. This includes buying the property and setting up the club.

The location is near Baltimore. It is the largest commercial development along I-95. Billions have been spent on infrastructure. Strong demographics and solid local economy with low unemployment. We will sub-lease space to complimentary businesses like doctor`s offices, day spa, cafe, etc. This will lower overhead and allow us to draw members from our tenants.

I have 12 years in the fitness business and have operated 4 small clubs.



Area Facts.

The Baltimore region ranked first in income growth between 2000 and 2005 among the nation’s top metropolitan areas, with a 24.1 percent increase.

The Baltimore area’s per capita income of $41,320 in 2005 came in eighth among top metro regions.

Employment growth of 5 percent between 2000 and 2006 places Baltimore eighth in the nation, well ahead of the 2.9 percent U.S. average.

Source: Economic Alliance of Greater Baltimore

While the concept of recruiting renters that will attract potential members is a good one - I think that combining the building purchase (and operation) with the development of an athletic club - may make it more challenging to acquire the capital since there may be different "investor profiles" for each opportunity.

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Thanks for the reply. Somehow, this got stuck in the wrong forum. I made a new one for the seeking capital forum.

I see your points. However years ago, I tried to find funding for just the club and no one was interested. Once I included the RE incentive everyone wanted to join. But these people still required I need 10% worth in assets to be fundable. So my goal is to find someone who invests in commercial property and trusts that my team and I can turn a profit with the business.