Snap Fitness Club

Franchising since 2004 under Lift Brands, Snap Fitness peaked at 510 locations in 2023 before contracting 5% to 484 in 2024, with just 3 projected new units. System health shows strain: only 1 termination but 21 non-renewals and 31 transfers suggest franchisee dissatisfaction or market pressures. Item 7 outlines initial investment from $430,800-$1,118,100 including $39,500 franchise fee; ongoing fees total ~$2,146/month ($700 royalty, $500 marketing, $400 tech, $546 insurance). Item 19 discloses avg gross revenue $250,461 (median $214,821), with estimated profits ranging $12,523-$70,129—solid for compact gyms but varying widely, implying operator skill and location drive outsized returns.

SBA data underscores viability with 220 loans averaging $186,005 and a 7.3% default rate, better than many peers but not elite. Litigation centers on non-competes and software glitches like ransomware, plus a bankruptcy history flags past parent volatility. For investors, the trajectory screams mature but cooling: long-term brand equity clashes with churn and shrinkage, making Item 19's medians a baseline test—high performers thrive, but averages may not cover fees in softer markets.