SBA 7(a)/504 FOIA · FY1991–PRESENT · MINNESOTA
Snap Fitness franchise in Minnesota: what the public record shows
Franchisees of Snap Fitness in Minnesota have taken 74 SBA loans in the FY1991–present FOIA files (average $168,187). Those approved through FY2020 defaulted at a rate not clearly different from franchise loans made in the same years nationally: 4 charge-offs among 48 resolved loans, where about 7.2 would be expected (0.6×). Snap Fitness's national ratio is 0.8× (not clearly different from 1.0×). Its latest FDD Item 20 state table reports 69 franchised outlets in Minnesota (fiscal 2025) — about 1.19 per 100k residents.
Loans in MN
74
Charged off (all years)
4 of 51
Loss ratio in MN (not clear)
0.6×
Loss ratio nationally (not clear)
0.8×
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = MN. 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
710
statewide, all operators
Per 100k residents
12.3
national 11.9
Versus the country
+3%
denser
Every business in Snap Fitness's industry operating in Minnesota — 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
$441
Minnesota, BLS QCEW 2025
National average
$438
same industry, all states
Versus the country
+1%
costlier to staff
What Snap Fitness's industry actually pays workers in Minnesota, 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 | 138 | 4 |
| 2018 | 136 | 2 |
| 2019 | 129 | 2 |
| 2023 | 76 | 1 |
| 2024 | 74 | 1 |
| 2025 | 69 | 1 |
| System | Loans in MN | Charged off (all years) | Loss ratio in MN | Units in MN |
|---|---|---|---|---|
| ANYTIME FITNESS | 111 | 4 of 88 | 0.3× | — |
| Curves for Women | 22 | 4 of 20 | — | — |
| Orangetheory | 19 | 1 of 13 | — | — |
| FARRELL'S EXTREME BODYSHAPING | 15 | 1 of 8 | — | — |
| Burn Boot Camp Fitness | 13 | 0 of 3 | — | — |
| Fitness Together | 9 | 4 of 8 | — | 3 |
| Club Pilates | 8 | 0 of 3 | — | — |
| F45 Training | 8 | 1 of 5 | — | — |
| HOTWORX | 7 | — | — | 13 |
| TITLE BOXING CLUB | 6 | 0 of 5 | — | 1 |
Other systems in Snap Fitness's sector whose franchisees borrowed in Minnesota. 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 Snap Fitness’ numbers, including talking you out of a bad deal.