Buying an Orange Theory Fitness franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 26 7(a) loans to buy an existing Orange Theory Fitness (classified mostly as Fitness and Recreational Sports Centers), totaling $31.6M. The median loan was $890,700, 38% higher than the $645,250 median for all SBA-financed acquisitions. 15 of these loans were approved in the last two fiscal years.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of Orange Theory Fitness resale loans landed between $284,075 and $1,396,925.
- Lender experience exists. Live Oak Banking Company alone has financed 7 Orange Theory Fitness 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 an Orange Theory Fitness resale
The median SBA 7(a) loan for an Orange Theory Fitness resale was $890,700 across 26 loans (FY2018 to FY2026). Live Oak Banking Company, Zions Bancorporation, National Association and Bank of America, National Association have financed the most Orange Theory Fitness 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%.
Orange Theory Fitness acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 3 | $6.2M | $1,297,700 | |
| FY2019 | 2 | $1.7M | $843,250 | |
| FY2020 | 2 | $993K | $496,300 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 4 | $10.1M | $2,440,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 6 | $4.3M | $776,700 | |
| FY2026 | 9 | $8.3M | $350,000 |
How often do these acquisition loans fail?
Fewer than 20 Orange Theory Fitness 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.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Lenders financing Orange Theory Fitness resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Live Oak Banking Company | 7 | 26.9% | $13.6M | |
| 2 | Zions Bancorporation, National Association | 3 | 11.5% | $4.9M | |
| 3 | Bank of America, National Association | 3 | 11.5% | $1.7M | |
| 4 | Emprise Bank | 2 | 7.7% | $993K | |
| 5 | The Huntington National Bank | 2 | 7.7% | $228K | |
| 6 | Amarillo National Bank | 1 | 3.8% | $4.1M | |
| 7 | Washington Trust Bank | 1 | 3.8% | $1.5M | |
| 8 | The Park Bank | 1 | 3.8% | $1.3M | |
| 9 | Fifth Third Bank | 1 | 3.8% | $1.2M | |
| 10 | Simmons Bank | 1 | 3.8% | $854K |
States where Orange Theory Fitness units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | New Jersey | 4 | 15.4% | $1.9M | |
| 2 | California | 3 | 11.5% | $3.2M | |
| 3 | Washington | 2 | 7.7% | $6.9M | |
| 4 | Texas | 2 | 7.7% | $4.9M | |
| 5 | Minnesota | 2 | 7.7% | $3.9M | |
| 6 | Arizona | 2 | 7.7% | $2.3M | |
| 7 | Kansas | 2 | 7.7% | $993K | |
| 8 | Michigan | 2 | 7.7% | $228K | |
| 9 | Oregon | 1 | 3.8% | $1.5M | |
| 10 | North Dakota | 1 | 3.8% | $1.4M |
That draft favors the seller. We review it for the buyer, line by line.
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How lenders classify Orange Theory Fitness
Lenders code each loan to a NAICS industry. For Orange Theory Fitness the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness and Recreational Sports Centers | 20 | 76.9% | $24.5M | |
| 2 | All Other Personal Services | 5 | 19.2% | $6.6M | |
| 3 | Sports and Recreation Instruction | 1 | 3.8% | $487K |
Questions buyers ask
How much do buyers borrow to buy an Orange Theory Fitness franchise?
The median SBA 7(a) loan for an Orange Theory Fitness resale was $890,700 across 26 loans (FY2018 to FY2026). The middle half of loans ran from $284,075 to $1,396,925. 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 Orange Theory Fitness acquisitions?
Live Oak Banking Company has made the most SBA acquisition loans for Orange Theory Fitness (7, 27% of the total). Zions Bancorporation, National Association, Bank of America, National Association, Emprise Bank follow.
What interest rate and term do Orange Theory Fitness acquisition loans carry?
The average initial rate at approval was 7.28% (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 an Orange Theory Fitness resale riskier than other SBA-financed acquisitions?
Too few Orange Theory Fitness 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 Orange Theory Fitness units being bought with SBA loans?
New Jersey (4), California (3), Washington (2), Texas (2), Minnesota (2). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Fitness and Recreational Sports Centers acquisitions
- New Jersey acquisitions
- California acquisitions
- Washington acquisitions
- Live Oak Banking Company
- Zions Bancorporation, National Association
- Bank of America, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Orange Theory Fitness" (franchise code S1224). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.