Buying a F45 Training franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing F45 Training (classified mostly as Fitness and Recreational Sports Centers), totaling $3.3M. The median loan was $293,500, 55% lower than the $645,250 median for all SBA-financed acquisitions. 1 of these loans were approved in the last two fiscal years.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of F45 Training resale loans landed between $240,000 and $350,000.
- Lender experience exists. Drake Bank alone has financed 1 F45 Training resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a F45 Training resale
The median SBA 7(a) loan for a F45 Training resale was $293,500 across 9 loans (FY2018 to FY2026). Drake Bank, U.S. Bank, National Association and Live Oak Banking Company have financed the most F45 Training resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
F45 Training acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 0 | $0 | - | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 2 | $519K | $259,350 | |
| FY2021 | 1 | $260K | $260,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 2 | $450K | $225,000 | |
| FY2024 | 3 | $1.4M | $293,500 | |
| FY2025 | 1 | $627K | $627,200 | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 F45 Training acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing F45 Training resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Drake Bank | 1 | 11.1% | $914K | |
| 2 | U.S. Bank, National Association | 1 | 11.1% | $627K | |
| 3 | Live Oak Banking Company | 1 | 11.1% | $350K | |
| 4 | Stearns Bank National Association | 1 | 11.1% | $295K | |
| 5 | The Huntington National Bank | 1 | 11.1% | $294K | |
| 6 | Citizens State Bank of New Castle | 1 | 11.1% | $260K | |
| 7 | The Bancorp Bank National Association | 1 | 11.1% | $240K | |
| 8 | Mountain America FCU | 1 | 11.1% | $224K | |
| 9 | CDC Small Business Finance Corp. | 1 | 11.1% | $100K |
States where F45 Training units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 3 | 33.3% | $967K | |
| 2 | Minnesota | 1 | 11.1% | $914K | |
| 3 | New Jersey | 1 | 11.1% | $350K | |
| 4 | Texas | 1 | 11.1% | $295K | |
| 5 | North Carolina | 1 | 11.1% | $294K | |
| 6 | Indiana | 1 | 11.1% | $260K | |
| 7 | Utah | 1 | 11.1% | $224K |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
How lenders classify F45 Training
Lenders code each loan to a NAICS industry. For F45 Training the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness and Recreational Sports Centers | 7 | 77.8% | $1.8M | |
| 2 | All Other Personal Services | 2 | 22.2% | $1.5M |
Questions buyers ask
How much do buyers borrow to buy a F45 Training franchise?
The median SBA 7(a) loan for a F45 Training resale was $293,500 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $240,000 to $350,000. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance F45 Training acquisitions?
Drake Bank has made the most SBA acquisition loans for F45 Training (1, 11% of the total). U.S. Bank, National Association, Live Oak Banking Company, Stearns Bank National Association follow.
What interest rate and term do F45 Training acquisition loans carry?
The average initial rate at approval was 8.69% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is a F45 Training resale riskier than other SBA-financed acquisitions?
Too few F45 Training acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are F45 Training units being bought with SBA loans?
California (3), Minnesota (1), New Jersey (1), Texas (1), North Carolina (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAll 50 states. Free consultation.
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Related
- All Fitness and Recreational Sports Centers acquisitions
- California acquisitions
- Minnesota acquisitions
- New Jersey acquisitions
- U.S. Bank, National Association
- Live Oak Banking Company
- Stearns Bank National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "F45 Training" (franchise code S0596). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.