SBA 7(a)/504 FOIA · FY1991–PRESENT · NEW YORK
F45 Training franchise in New York: what the public record shows
Franchisees of F45 Training in New York have taken 15 SBA loans in the FY1991–present FOIA files (average $218,646). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. F45 Training's national ratio is 1.3× (not clearly different from 1.0×).
Loans in NY
15
Charged off (all years)
1 of 7
Loss ratio in NY
—
Loss ratio nationally (not clear)
1.3×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = NY. Loss ratio = charge-offs among loans approved through FY2020 ÷ the charge-offs expected if each had defaulted at the national rate for franchise loans approved the same year; 1.0× is the same. Only charged-off and paid-in-full loans count. A ratio is shown at 30+ such loans; “not clear” marks a ratio chance alone could produce. The all-years count mixes every era and is evidence, not a rate to compare. Borrowers are matched to the brand by name and SBA franchise code; some matches may be wrong or missing.
Businesses in this industry
2,492
statewide, all operators
Per 100k residents
12.5
national 11.9
Versus the country
+5%
denser
Every business in F45 Training's industry operating in New York — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across the brand-state cells in the loan data, denser markets have historically charged off less often than the thinnest (see the research page). A crowded market is usually proven demand; an empty one is often empty for a reason.
Avg weekly wage, this industry
$598
New York, BLS QCEW 2025
National average
$438
same industry, all states
Versus the country
+37%
costlier to staff
What F45 Training's industry actually pays workers in New York, from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (2025), employment-weighted across counties. This cost signal is independent of the FDD: a market can look demand-rich above and still carry a margin headwind here if local wages run hot for the sector.
| System | Loans in NY | Charged off (all years) | Loss ratio in NY | Units in NY |
|---|---|---|---|---|
| Retrofitness | 35 | 1 of 20 | — | — |
| Orangetheory | 29 | 0 of 22 | — | — |
| Curves for Women | 24 | 5 of 12 | — | — |
| ANYTIME FITNESS | 17 | 3 of 10 | — | — |
| I LOVE KICKBOXING | 16 | 4 of 11 | — | — |
| GOLD'S GYM | 15 | 1 of 12 | — | 8 |
| Stretch Lab | 14 | 0 of 4 | — | — |
| HOTWORX | 12 | — | — | 15 |
| World Gym & Fitness Center | 9 | 0 of 6 | — | — |
| Club Pilates | 7 | 0 of 3 | — | — |
| Snap Fitness | 7 | 1 of 5 | — | 12 |
| Studio Pilates | 7 | — | — | 5 |
Other systems in F45 Training's sector whose franchisees borrowed in New York. A loss ratio appears only where at least 30 loans approved through FY2020 have resolved; “—” means too few.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing F45 Training’s numbers, including talking you out of a bad deal.