MAYWEATHER BOXING + FITNESS

The track record reveals a young system that's expanded to 68 franchise locations plus one corporate unit, but total units dipped from 70 in 2022 to 69 in 2023, signaling -1% contraction. Franchising since 2018, it projects 9 new units amid 10 terminations and just 2 transfers per recent FDD data (Item 20), pointing to moderate but uneven growth in the competitive boutique fitness space. This slight pullback, alongside elevated terminations, flags potential challenges in franchisee retention or market saturation, especially as specialized fitness demands consistent customer acquisition.

Financials hit hard: $49,500 franchise fee within a $347,000-$659,800 initial investment (Item 7), plus 7% royalties, 1% brand fund, $3,000/month local advertising, and $950/month tech fees erode margins without Item 19 earnings disclosure to benchmark performance. SBA stats shine brighter—41 loans averaging $397,407 with a low 4.9% default rate—suggesting franchisees secure financing and mostly repay, implying viable cash flow for survivors. No revenue transparency means relying on industry comps for specialized gyms (~$400K-$800K AUVs), but extra fees and contraction urge caution; this high-prestige brand suits boxing enthusiasts with deep pockets, not casual investors.