ANYTIME FITNESS

Financials hit hard: expect $458,826-$907,607 to open (Item 7), including a $42,500 franchise fee. Ongoing royalties total $820 monthly plus $600 for marketing and $799 technology—higher than many fitness peers at over $2,200/month combined. Item 19 shines with average gross sales of $442,686 and median $394,973 across mature units, suggesting solid top-line potential if you hit traffic. SBA stats bolster: 1,050 loans averaging $429,715, but a 7.0% default rate flags moderate risk—lower than riskier concepts yet worth scrutinizing against your capital.

System health raises eyebrows: 2,290 locations after dipping from 2,298 in 2023 (flat -0% growth), with 207 transfers signaling resale activity, 33 terminations, 21 non-renewals, and just 48 projected new units. Litigation involves an affiliate suit over early exits and data misuse, plus counterclaims of weak support—echoing past bankruptcy. For investors, strong revenues offset contraction, but high transfers and fees demand proven operations; crunch if $400K+ sales cover $2K+ monthly outflows in a saturated market.