Buying a Fitness Together franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 9 7(a) loans to buy an existing Fitness Together (classified mostly as Fitness and Recreational Sports Centers), totaling $1.6M. The median loan was $126,000, 80% lower than the $645,250 median for all SBA-financed acquisitions.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Fitness Together resale loans landed between $90,000 and $300,000.
- Lender experience exists. Bristol County Savings Bank alone has financed 4 Fitness Together resales.
- Guaranty. The SBA guaranteed 74% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Fitness Together resale
The median SBA 7(a) loan for a Fitness Together resale was $126,000 across 9 loans (FY2018 to FY2026). Bristol County Savings Bank, Rockland Trust Company and EagleBank have financed the most Fitness Together 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%.
Fitness Together acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 2 | $210K | $104,900 | |
| FY2019 | 4 | $519K | $94,500 | |
| FY2020 | 0 | $0 | - | |
| FY2021 | 1 | $495K | $495,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 1 | $300K | $300,000 | |
| FY2024 | 1 | $126K | $126,000 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Fitness Together 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.
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Lenders financing Fitness Together resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Bristol County Savings Bank | 4 | 44.4% | $339K | |
| 2 | Rockland Trust Company | 2 | 22.2% | $216K | |
| 3 | EagleBank | 1 | 11.1% | $495K | |
| 4 | Heritage Bank | 1 | 11.1% | $300K | |
| 5 | Truist Bank | 1 | 11.1% | $300K |
States where Fitness Together units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Rhode Island | 3 | 33.3% | $300K | |
| 2 | Massachusetts | 3 | 33.3% | $255K | |
| 3 | Maryland | 1 | 11.1% | $495K | |
| 4 | Virginia | 1 | 11.1% | $300K | |
| 5 | Washington | 1 | 11.1% | $300K |
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How lenders classify Fitness Together
Lenders code each loan to a NAICS industry. For Fitness Together the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness and Recreational Sports Centers | 8 | 88.9% | $1.6M | |
| 2 | Other Personal Care Services | 1 | 11.1% | $90K |
Questions buyers ask
How much do buyers borrow to buy a Fitness Together franchise?
The median SBA 7(a) loan for a Fitness Together resale was $126,000 across 9 loans (FY2018 to FY2026). The middle half of loans ran from $90,000 to $300,000. 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 Fitness Together acquisitions?
Bristol County Savings Bank has made the most SBA acquisition loans for Fitness Together (4, 44% of the total). Rockland Trust Company, EagleBank, Heritage Bank follow.
What interest rate and term do Fitness Together acquisition loans carry?
The average initial rate at approval was 6.47% (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 Fitness Together resale riskier than other SBA-financed acquisitions?
Too few Fitness Together 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 Fitness Together units being bought with SBA loans?
Rhode Island (3), Massachusetts (3), Maryland (1), Virginia (1), Washington (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.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Fitness and Recreational Sports Centers acquisitions
- Rhode Island acquisitions
- Massachusetts acquisitions
- Maryland acquisitions
- Rockland Trust Company
- Heritage Bank
- Truist Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Fitness Together" (franchise code S0650). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.