Buying a Workout Anytime franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 12 7(a) loans to buy an existing Workout Anytime (classified mostly as Fitness and Recreational Sports Centers), totaling $14.2M. The median loan was $685,000, 6% higher 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 Workout Anytime resale loans landed between $536,875 and $1,415,750.
- Lender experience exists. The Huntington National Bank alone has financed 6 Workout Anytime 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 Workout Anytime resale
The median SBA 7(a) loan for a Workout Anytime resale was $685,000 across 12 loans (FY2018 to FY2026). The Huntington National Bank, Live Oak Banking Company and Beacon Bank and Trust have financed the most Workout Anytime 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%.
Workout Anytime acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $620K | $620,000 | |
| FY2019 | 1 | $518K | $517,700 | |
| FY2020 | 2 | $2.9M | $1,465,000 | |
| FY2021 | 3 | $1.7M | $540,000 | |
| FY2022 | 0 | $0 | - | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 3 | $5.3M | $1,330,000 | |
| FY2026 | 2 | $3.2M | $1,590,000 |
How often do these acquisition loans fail?
Fewer than 20 Workout Anytime 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 Workout Anytime resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | The Huntington National Bank | 6 | 50.0% | $5.3M | |
| 2 | Live Oak Banking Company | 3 | 25.0% | $4.5M | |
| 3 | Beacon Bank and Trust | 1 | 8.3% | $3.2M | |
| 4 | CRF Small Business Loan Company, LLC | 1 | 8.3% | $600K | |
| 5 | Community Bank of Pickens County | 1 | 8.3% | $540K |
States where Workout Anytime units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Georgia | 5 | 41.7% | $3.5M | |
| 2 | North Carolina | 2 | 16.7% | $4.5M | |
| 3 | Florida | 2 | 16.7% | $1.9M | |
| 4 | Tennessee | 1 | 8.3% | $2.8M | |
| 5 | Alabama | 1 | 8.3% | $750K | |
| 6 | South Carolina | 1 | 8.3% | $620K |
Seller note standby terms and third-party consents are reviewed before closing.
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Questions buyers ask
How much do buyers borrow to buy a Workout Anytime franchise?
The median SBA 7(a) loan for a Workout Anytime resale was $685,000 across 12 loans (FY2018 to FY2026). The middle half of loans ran from $536,875 to $1,415,750. 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 Workout Anytime acquisitions?
The Huntington National Bank has made the most SBA acquisition loans for Workout Anytime (6, 50% of the total). Live Oak Banking Company, Beacon Bank and Trust, CRF Small Business Loan Company, LLC follow.
What interest rate and term do Workout Anytime acquisition loans carry?
The average initial rate at approval was 7.79% (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 Workout Anytime resale riskier than other SBA-financed acquisitions?
Too few Workout Anytime 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 Workout Anytime units being bought with SBA loans?
Georgia (5), North Carolina (2), Florida (2), Tennessee (1), Alabama (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
- Georgia acquisitions
- North Carolina acquisitions
- Florida acquisitions
- The Huntington National Bank
- Live Oak Banking Company
- Beacon Bank and Trust
- All franchise brands
Brand name as recorded by lenders in the SBA file: "Workout Anytime" (franchise code S1947). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.