SBA 7(a)/504 FOIA · FY1991–PRESENT · RHODE ISLAND
Fitness Together franchise in Rhode Island: what the public record shows
Franchisees of Fitness Together in Rhode Island have taken 10 SBA loans in the FY1991–present FOIA files (average $67,780). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. Fitness Together's national ratio is 1.5×. Its latest FDD Item 20 state table reports 4 franchised outlets in Rhode Island (fiscal 2019) — about 0.36 per 100k residents.
Loans in RI
10
Charged off (all years)
0 of 9
Loss ratio in RI
—
Loss ratio nationally
1.5×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = RI. 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
178
statewide, all operators
Per 100k residents
16
national 11.9
Versus the country
+34%
denser
Every business in Fitness Together's industry operating in Rhode Island — 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
$423
Rhode Island, BLS QCEW 2025
National average
$438
same industry, all states
Versus the country
-3%
cheaper to staff
What Fitness Together's industry actually pays workers in Rhode Island, 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.
| Fiscal year | Franchised | Company-owned |
|---|---|---|
| 2017 | 4 | — |
| 2018 | 4 | — |
| 2019 | 4 | — |
| System | Loans in RI | Charged off (all years) | Loss ratio in RI | Units in RI |
|---|---|---|---|---|
| ANYTIME FITNESS | 8 | 1 of 5 | — | — |
| GOLD'S GYM | 5 | 1 of 5 | — | — |
Other systems in Fitness Together's sector whose franchisees borrowed in Rhode Island. 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 Fitness Together’s numbers, including talking you out of a bad deal.