SBA 7(a)/504 FOIA · FY1991–PRESENT · TENNESSEE
GOLD'S GYM franchise in Tennessee: what the public record shows
Franchisees of GOLD'S GYM in Tennessee have taken 8 SBA loans in the FY1991–present FOIA files (average $833,375). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. GOLD'S GYM's national ratio is 0.8× (not clearly different from 1.0×). Its latest FDD Item 20 state table reports 16 franchised outlets in Tennessee (fiscal 2025) — about 0.22 per 100k residents.
Loans in TN
8
Charged off (all years)
1 of 7
Loss ratio in TN
—
Loss ratio nationally (not clear)
0.8×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = TN. 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
742
statewide, all operators
Per 100k residents
10.3
national 11.9
Versus the country
-13%
thinner
Every business in GOLD'S GYM's industry operating in Tennessee — 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
$397
Tennessee, BLS QCEW 2025
National average
$438
same industry, all states
Versus the country
-9%
cheaper to staff
What GOLD'S GYM's industry actually pays workers in Tennessee, 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 |
|---|---|---|
| 2023 | 16 | — |
| 2024 | 16 | — |
| 2025 | 16 | — |
| System | Loans in TN | Charged off (all years) | Loss ratio in TN | Units in TN |
|---|---|---|---|---|
| ANYTIME FITNESS | 18 | 1 of 10 | — | — |
| HOTWORX | 14 | 0 of 6 | — | 26 |
| Orangetheory | 12 | 0 of 11 | — | — |
| Burn Boot Camp Fitness | 7 | — | — | — |
| F45 Training | 6 | 2 of 5 | — | — |
| TITLE BOXING CLUB | 6 | 0 of 5 | — | 2 |
Other systems in GOLD'S GYM's sector whose franchisees borrowed in Tennessee. 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 GOLD'S GYM’s numbers, including talking you out of a bad deal.