Buying a Retrofitness franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 8 7(a) loans to buy an existing Retrofitness (classified mostly as Fitness and Recreational Sports Centers), totaling $9.3M. The median loan was $1,108,800, 72% higher than the $645,250 median for all SBA-financed acquisitions.
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 Retrofitness resale loans landed between $752,150 and $1,601,500.
- Lender experience exists. United Community Bank alone has financed 3 Retrofitness 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 Retrofitness resale
The median SBA 7(a) loan for a Retrofitness resale was $1,108,800 across 8 loans (FY2018 to FY2026). United Community Bank, Live Oak Banking Company and TD Bank, National Association have financed the most Retrofitness 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%.
Retrofitness acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $761K | $761,200 | |
| FY2019 | 3 | $4.6M | $1,465,000 | |
| FY2020 | 4 | $3.9M | $910,000 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 Retrofitness 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 Retrofitness resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | United Community Bank | 3 | 37.5% | $2.7M | |
| 2 | Live Oak Banking Company | 1 | 12.5% | $2.1M | |
| 3 | TD Bank, National Association | 1 | 12.5% | $2M | |
| 4 | Unity Bank | 1 | 12.5% | $1.1M | |
| 5 | First Bank | 1 | 12.5% | $761K | |
| 6 | Byline Bank | 1 | 12.5% | $725K |
States where Retrofitness units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | New Jersey | 4 | 50.0% | $3.1M | |
| 2 | New York | 3 | 37.5% | $4.2M | |
| 3 | Florida | 1 | 12.5% | $2M |
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsSBA-financed deals. All 50 states.
Questions buyers ask
How much do buyers borrow to buy a Retrofitness franchise?
The median SBA 7(a) loan for a Retrofitness resale was $1,108,800 across 8 loans (FY2018 to FY2026). The middle half of loans ran from $752,150 to $1,601,500. 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 Retrofitness acquisitions?
United Community Bank has made the most SBA acquisition loans for Retrofitness (3, 38% of the total). Live Oak Banking Company, TD Bank, National Association, Unity Bank follow.
What interest rate and term do Retrofitness acquisition loans carry?
The average initial rate at approval was 6.88% (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 Retrofitness resale riskier than other SBA-financed acquisitions?
Too few Retrofitness 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 Retrofitness units being bought with SBA loans?
New Jersey (4), New York (3), Florida (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.
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Submit Transaction DetailsAlex Lubyansky leads every engagement.
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Related
- All Fitness and Recreational Sports Centers acquisitions
- New Jersey acquisitions
- New York acquisitions
- Florida acquisitions
- United Community Bank
- Live Oak Banking Company
- TD Bank, National Association
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Retrofitness" (franchise code S1427). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.