Gold's Gym
Stuart, Florida
Proven operators expanding into one of Florida's strongest growth corridors. We are seeking a capital partner for a 25,000+ SF flagship facility with structured downside protection and performance-based upside.
Stuart, Florida —
Florida's Treasure Coast
Located in Martin County, Stuart sits at the intersection of affluence and growth. A year-round population base with high disposable income, strong retail corridors, and limited premium fitness options creates an ideal market for a flagship Gold's Gym development.
Premium Coastal Market
Martin County ranks among Florida's highest-income coastal markets with strong year-round population stability.
Migration Tailwinds
Sustained in-migration from Northeast and Midwest driving population growth of 2.9% annually.
Limited Competition
No direct big-box fitness competition in the immediate trade area — significant whitespace for a premium operator.
Affluent Demographics
High household income supports $42+ average membership pricing with strong personal training attach rates.
Key Market Indicators
Strength-Focused,
Purpose-Built
A full-service Gold's Gym designed from the ground up to maximize member experience, personal training revenue, and operational efficiency.
Premium Free Weight Area
Competition-grade platforms, specialty bars, and heavy dumbbells up to 150 lbs.
Functional Turf Zone
Dedicated sled track and functional training space for performance-minded members.
Group Fitness Studio
Multi-purpose studio for classes, cycling, and specialty programming.
Personal Training
Built-in PT infrastructure with dedicated training zones and consultation areas.
Recovery & Amenities
Full locker rooms with recovery offerings to support premium membership tiers.
12-Month Rent Abatement
Secured lease concession protects early cash flow during ramp-up period.
Project Cost &
Capital Structure
A disciplined capital plan with clear uses, sponsor alignment, and investor-first protections.
Capital Raise: Equity partner funding majority of project cost. Sponsors contributing capital and signing personal guarantees on the lease.
Sponsor Alignment
Every structural element is designed to protect investor capital and ensure operator accountability.
Sponsors Sign the PG
Personal guarantees on the lease demonstrate full commitment and alignment with investor capital.
Full-Time Operators
Sponsors are not passive — they are the day-to-day operators running the business.
Investor-First Cash Flow
80% of distributable cash flow goes to the investor until their capital is fully returned, then shifts to 70/30.
Stabilized Performance
Projections
Conservative underwriting with strong fixed-cost leverage once the breakeven threshold is surpassed. Personal training revenue provides meaningful upside to base membership economics.
5-Year Projection Model
Membership ramp & revenue trajectory
Revenue Composition
Personal training revenue represents 20–30% of total revenue, providing significant margin enhancement above base membership economics.
Profitability Profile
Strong fixed-cost leverage once breakeven threshold is surpassed. Incremental members above breakeven contribute disproportionately to EBITDA.
Investment
Structure
Investor-First Distribution Model
Our capital structure is designed to prioritize investor returns while aligning operator incentives to maximize long-term performance. Investors receive the majority of early cash flow until their capital is fully returned, after which the operators earn an increased promote for continued growth and performance.
Phase 1 — Capital Repayment
During the initial operating period, all distributable cash flow is split with priority to the investor until the investor's original capital has been fully returned.
This structure prioritizes investor capital protection and early cash flow.
Phase 2 — Post-Repayment Promote
Once the investor's initial capital has been fully returned, the profit distribution adjusts to reward the operators for long-term performance and growth.
This structure aligns long-term incentives between investors and operators.
Alignment of Interests
Our structure ensures every stakeholder is motivated to maximize value.
Investors receive priority access to early cash flow
Operators are incentivized to grow membership and revenue
Long-term profits are shared once investor capital is protected
Beyond Stuart —
Regional Platform
Stuart serves as the anchor unit for a defensible regional fitness platform with recurring revenue and real asset backing.
Launch & Stabilize Stuart
Open flagship location, build membership base to 3,000+, achieve stabilized EBITDA.
Regional Expansion
Expand into Port St. Lucie and Palm Beach County with proven playbook.
Platform Scale
Build 4–6 unit Florida regional holdco with centralized operations.
Long-Term Optionality
Recapitalization
Refinance stabilized assets to return investor capital while retaining equity.
Cash-Flow Hold
Maintain ownership of a high-margin, recurring revenue platform.
Platform Sale
Sell the regional platform to private equity at a premium multiple.
Experienced
Operators
This project is led by operators with hands-on experience managing and growing Gold's Gym locations in highly competitive markets.
Christian Morganti
Operating Partner
Christian Morganti brings over 15 years of experience in the fitness industry, with extensive experience operating and growing Gold's Gym locations. He currently serves as an Operating Partner overseeing four Gold's Gym clubs in Richmond, Virginia — one of the most competitive fitness markets in the region. His primary expertise lies in digital marketing and lead generation, where he has developed systems that consistently drive new member acquisition through targeted online advertising, performance marketing, and local outreach. Through years of hands-on operational involvement, he has developed a deep understanding of gym unit economics, membership acquisition strategies, and revenue optimization.
Stuart Role
For the Stuart development project, Christian will oversee marketing strategy, membership growth systems, and overall business performance.
Davis Buheller
General Manager — Stuart Development
Davis Buheller brings 7 years of experience in the fitness industry and currently serves as the General Manager of Gold's Gym Gayton Crossing in Richmond, Virginia. In this role, he manages day-to-day operations for a club generating approximately $150,000 per month in revenue, overseeing membership sales, staffing, and personal training departments. His expertise includes sales leadership, sales training, personal training revenue development, membership retention, and staff development — all critical drivers of gym profitability.
Stuart Role
For the Stuart project, he will serve as the General Manager and boots-on-the-ground operator, responsible for staffing, sales systems, membership growth, and operational execution. He also has experience supporting lease negotiations, landlord coordination, and the buildout process of new clubs.
Why We Win
in This Market
The operating team has built and managed clubs in Richmond, Virginia — a significantly more competitive fitness market than the Stuart / South Florida region. Together, these factors create a significant competitive advantage for the Stuart location and future Florida expansion.
Proven in Competitive Markets
Christian oversees four Gold's Gym locations in Richmond, VA — where multiple national and local fitness brands compete aggressively for market share.
Strong Operational Performance
Davis manages a club currently generating approximately $150,000 per month in revenue, demonstrating strong sales leadership and operational discipline.
Transferable Growth Systems
Tested marketing, sales, and operational systems developed in a highly competitive market, ready to deploy in the Stuart location.
Favorable Stuart Landscape
The Stuart trade area has less direct big-box fitness competition, allowing proven systems to perform even more effectively than in Richmond.
Why This
Opportunity
A disciplined, operator-led investment with structural protections, strong market fundamentals, and a clear path to platform value creation.
Proven Operators
Experienced Gold's Gym operators with a track record of building and managing fitness facilities.
Recurring Revenue Model
High-cash-flow membership model with predictable monthly recurring revenue and strong retention.
12-Month Rent Abatement
Secured lease concession significantly reduces early-stage risk and protects cash flow during ramp-up.
Florida Migration Tailwinds
Sustained population growth from Northeast and Midwest migration creates expanding addressable market.
Sponsor Alignment
Personal guarantees, capital contribution, and full-time operational commitment from sponsors.
Structured Investor Waterfall
80/20 pre-repayment split shifting to 70/30 post-repayment, with a performance promote at 2.5x MOIC.
Seeking a Disciplined
Capital Partner
We are looking for a capital partner who values long-term platform building and structured downside protection. This opportunity is suited for investors who appreciate operator alignment, recurring revenue models, and the Florida growth thesis.
14-page confidential investor memorandum — PDF format
Confidential — For Qualified Investors Only
This presentation is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. All projections are forward-looking and subject to change.