SBA 7(a)/504 FOIA · FY1991–PRESENT · INDIANA
Planet Fitness franchise in Indiana: what the public record shows
Franchisees of Planet Fitness in Indiana have taken 10 SBA loans in the FY1991–present FOIA files (average $773,020). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. Planet Fitness's national ratio is 0×. Its latest FDD Item 20 state table reports 67 franchised outlets in Indiana (fiscal 2025) — about 0.97 per 100k residents.
Loans in IN
10
Charged off (all years)
0 of 9
Loss ratio in IN
—
Loss ratio nationally
0×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = IN. 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
689
statewide, all operators
Per 100k residents
10
national 11.9
Versus the country
-16%
thinner
Every business in Planet Fitness's industry operating in Indiana — 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
$387
Indiana, BLS QCEW 2025
National average
$438
same industry, all states
Versus the country
-12%
cheaper to staff
What Planet Fitness's industry actually pays workers in Indiana, 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 |
|---|---|---|
| 2015 | 29 | — |
| 2016 | 36 | — |
| 2017 | 42 | — |
| 2023 | 64 | — |
| 2024 | 66 | — |
| 2025 | 67 | — |
| System | Loans in IN | Charged off (all years) | Loss ratio in IN | Units in IN |
|---|---|---|---|---|
| ANYTIME FITNESS | 70 | 3 of 44 | 0.7×NOT CLEAR | — |
| Pure Barre | 19 | 0 of 7 | — | — |
| Curves for Women | 16 | 3 of 14 | — | — |
| HOTWORX | 9 | 0 of 4 | — | 13 |
| Stretch Lab | 8 | 0 of 2 | — | — |
| F45 Training | 7 | 0 of 2 | — | — |
| I LOVE KICKBOXING | 6 | 1 of 5 | — | — |
| Orangetheory | 6 | 0 of 5 | — | — |
| Powerhouse Gym | 5 | 0 of 3 | — | — |
Other systems in Planet Fitness's sector whose franchisees borrowed in Indiana. 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 Planet Fitness’ numbers, including talking you out of a bad deal.