Buying a Pure Barre franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 25 7(a) loans to buy an existing Pure Barre (classified mostly as Fitness and Recreational Sports Centers), totaling $6.7M. The median loan was $240,000, 63% lower than the $645,250 median for all SBA-financed acquisitions. 5 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 Pure Barre resale loans landed between $199,300 and $327,000.
- Lender experience exists. The Huntington National Bank alone has financed 4 Pure Barre resales.
- Guaranty. The SBA guaranteed 76% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing a Pure Barre resale
The median SBA 7(a) loan for a Pure Barre resale was $240,000 across 25 loans (FY2018 to FY2026). The Huntington National Bank, First-Citizens Bank & Trust Company and Truist Bank have financed the most Pure Barre 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%.
Pure Barre acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 5 | $1.1M | $212,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 4 | $1.5M | $376,500 | |
| FY2021 | 3 | $1.1M | $327,000 | |
| FY2022 | 4 | $1.2M | $285,250 | |
| FY2023 | 2 | $363K | $181,500 | |
| FY2024 | 2 | $506K | $252,850 | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 5 | $1.1M | $225,800 |
How often do these acquisition loans fail?
Fewer than 20 Pure Barre 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 Pure Barre resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 4 | 16.0% | $628K | |
| 2 | First-Citizens Bank & Trust Company | 2 | 8.0% | $1.2M | |
| 3 | Truist Bank | 2 | 8.0% | $775K | |
| 4 | First Financial Bank | 2 | 8.0% | $377K | |
| 5 | Merchants Bank of Indiana | 1 | 4.0% | $425K | |
| 6 | United Community Bank | 1 | 4.0% | $380K | |
| 7 | Prosperity Bank | 1 | 4.0% | $315K | |
| 8 | Live Oak Banking Company | 1 | 4.0% | $307K | |
| 9 | Bonvenu Bank NA | 1 | 4.0% | $266K | |
| 10 | First Internet Bank of Indiana | 1 | 4.0% | $243K |
States where Pure Barre units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Texas | 5 | 20.0% | $1.3M | |
| 2 | Indiana | 5 | 20.0% | $1.2M | |
| 3 | Ohio | 4 | 16.0% | $820K | |
| 4 | Washington | 2 | 8.0% | $1.2M | |
| 5 | Michigan | 2 | 8.0% | $153K | |
| 6 | Virginia | 1 | 4.0% | $491K | |
| 7 | Massachusetts | 1 | 4.0% | $350K | |
| 8 | South Carolina | 1 | 4.0% | $307K | |
| 9 | Louisiana | 1 | 4.0% | $266K | |
| 10 | Wisconsin | 1 | 4.0% | $221K |
Seller note standby terms and third-party consents are reviewed before closing.
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How lenders classify Pure Barre
Lenders code each loan to a NAICS industry. For Pure Barre the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Fitness and Recreational Sports Centers | 22 | 88.0% | $5.9M | |
| 2 | Sports and Recreation Instruction | 1 | 4.0% | $315K | |
| 3 | All Other Personal Services | 1 | 4.0% | $307K |
Questions buyers ask
How much do buyers borrow to buy a Pure Barre franchise?
The median SBA 7(a) loan for a Pure Barre resale was $240,000 across 25 loans (FY2018 to FY2026). The middle half of loans ran from $199,300 to $327,000. 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 Pure Barre acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Pure Barre (4, 16% of the total). First-Citizens Bank & Trust Company, Truist Bank, First Financial Bank follow.
What interest rate and term do Pure Barre acquisition loans carry?
The average initial rate at approval was 7.34% (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 Pure Barre resale riskier than other SBA-financed acquisitions?
Too few Pure Barre 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 Pure Barre units being bought with SBA loans?
Texas (5), Indiana (5), Ohio (4), Washington (2), Michigan (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.
The purchase agreement decides what you bought, not the loan approval.
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Related
- All Fitness and Recreational Sports Centers acquisitions
- Texas acquisitions
- Indiana acquisitions
- Ohio acquisitions
- The Huntington National Bank
- First-Citizens Bank & Trust Company
- Truist Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Pure Barre" (franchise code S2756). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.