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Fitness Together franchise financing options
Compare costs, fees and where to get financing for a Fitness Together.
Estimated initial costs
Our cost estimates are accurate as of 2021 from Franchise Direct and include opening fees and expenses only. The location you choose for your Fitness Together franchise may result in higher or lower fees.
Franchise feesFitness Together franchise fees total around $54,900, which is more than the $37,000 average for the 200 largest franchises.
|Initial franchise fee||$39,900 to $39,900|
|Grand opening spend requirement||$15,000 to $15,000|
|Royalty||6% of gross receipts.|
|Estimated total||$54,900 to $54,900|
Equipment feesEquipment fees total $46,900 for Fitness Together. This is less than the $180,023 average for the top 200 franchises.
|Equipment||$28,300 to $46,300|
|Signs||$8,700 to $10,500|
|Estimated total||$37,000 to $56,800|
Real estate feesReal estate will set you back $113,600 for Fitness Together, thought it's less than the average of $788,376 for the top 200 franchises.
|Leasehold improvements, net of landlord tenant allowances||$66,800 to $155,400|
|Site survey fee||$2,500 to $2,500|
|Estimated total||$69,300 to $157,900|
Licenses and permits costsFitness Together initial licenses and permits will set you back $550. This comes out to less than $18,770 — the overall nationwide average.
|Licenses and permits||Cost|
|Business licenses and permits||$100 to $1,000|
|Estimated total||$100 to $1,000|
Insurance costsInitial insurance costs for Fitness Together run $4,500. This means you'll be paying less than the overall nationwide average of $6,311.
|Insurance||$2,700 to $6,300|
|Estimated total||$2,700 to $6,300|
Other expensesMiscellaneous expenses for Fitness Together total $21,094 — less than the nationwide average of $69,970.
|Miscellaneous opening costs||$300 to $1,000|
|Three months' additional funds||$11,162 to $29,726|
|Estimated total||$11,462 to $30,726|
How to financeSince the estimated total for Fitness Together is on the more costly side, we recommend following these steps to get fully financed:
- Go to the Fitness Together franchising website and review its financial requirements, including cash-on-hand requirements.
- Reach out to Fitness Together about in-house financing for franchisees.
- If in-house financing isn't available, look for online loans, bank loans and SBA loans to help meet the $241,544 estimated opening costs.
- Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
- Once you settle on a lender, gather all required documents, including account statements and assets.
- Apply for financing online or in person as required by the lender.
What types of financing is available?You have several options when it comes to financing a Fitness Together — even if the cost is on the heavier side. What assets you have available will largely determine how much you need to borrow, and which option suits you best.
- Online loan. A number of online business lenders offer amounts up to $1 million, with some extending up to $5 million.
- Bank loan. Your personal credit will typically need to at least be good — 670 or higher — when it comes to getting a bank loan large enough to cover a significant portion of Fitness Together opening costs.
- SBA loan. While your personal credit score doesn't need to be as good to qualify for an SBA loan, they usually cost more than standard term loans from banks or online lenders.
Compare small business lendersYou may not need financing to cover the estimated $175,462. But if you need funds for other business ventures, select the loan amount, your time in business and revenue and your personal credit score to compare a selection of lenders.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How Fitness Together stacks upCompare how Fitness Together holds up against two similarly sized franchises.
|Rosatiu2019s Pizza||Fitness Together||i9 Sports|
|Average Franchise fees||$30,000||$54,900||NA|
|Average Equipment fees||$219,000||$46,900||NA|
|Average Real estate fees||$323,000||$113,600||NA|
|Average Training fees||$4,500||NA||NA|
|Average Inventory fees||$17,500||NA||NA|
|Average Marketing fees||NA||NA||NA|
|Average Licenses and permits fees||$13,250||$550||NA|
|Average Insurance fees||$5,850||$4,500||NA|
|Average Admin fees||NA||NA||NA|
|Average Personnel fees||NA||NA||NA|
|Average Other fees||$16,000||$21,094||NA|
Bottom lineFitness Together franchise costs run a total of $241,544. Before you decide to become a franchisee, compare the total costs against industry averages. And to learn more about financing read our guide to franchise financing.
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