Crunch

Data Based On: Financial performance data for gross revenue is based on 303 franchised locations operating in 2024, segmented into upper, middle, and bottom thirds. Profit metrics (gross profit, EBITDA, net profit) are based on a separate sample of 143 median performing franchised clubs in 2024, grouped by months in operation (12-24, 25-36, 37-48, 49-60 months).

* Average gross revenue calculated as a weighted average of the average gross revenues from the Upper, Middle, and Bottom Thirds of 303 franchised clubs (101 clubs each): (101 units × $4,307,728 + 101 units × $2,506,012 + 101 units × $1,481,919) / 303 = $2,765,219.67. Median gross revenue is taken from the median of the Middle Third segment: $2,451,690. Revenue top quartile is the average gross revenue of the Upper Third: $4,307,728. Revenue bottom quartile is the average gross revenue of the Bottom Third: $1,481,919. Average gross profit, average net profit (operating profit/EBIT), average EBITDA, and EBITDA margin percentage are calculated from a separate sample of 143 median performing clubs, grouped by months in operation (55 clubs 12-24M, 34 clubs 25-36M, 19 clubs 37-48M, 35 clubs 49-60M). - Average Gross Profit calculated as weighted average of (Total Revenue - Total Cost of Goods Sold) for each group: (55 * ($3,771,472 - $68,264) + 34 * ($3,141,938 - $32,459) + 19 * ($4,453,082 - $56,509) + 35 * ($2,451,690 - $50,062)) / 143 = $3,335,598.55. - Average EBITDA calculated as weighted average of 'AVERAGE COP* (EBITDA)' for each group: (55 * $925,171 + 34 * $1,056,120 + 19 * $901,077 + 35 * $837,057) / 143 = $931,538.06. Note: Item 10 definition of 'Cash Operating Profit' states it excludes depreciation/amortization, implying it represents operating profit (EBIT). However, the table column is explicitly labeled 'AVERAGE COP* (EBITDA)'. This value is used for both average_net_profit and average_ebitda. - EBITDA margin percentage calculated as weighted average EBITDA / weighted average Total Revenue for the 143 clubs: $931,538.06 / $3,389,332.59 = 0.2748. - Best guess profit low and high are based on the lowest and highest 'AVERAGE COP* (EBITDA)' values across the 143 club groupings: Low = $837,057 (49-60 months group), High = $1,056,120 (25-36 months group).