Fitness Together franchise financing options

Overall costs for Fitness Together run anywhere from $175,462 to $307,626. See how the costs break down and what funding options might be right for your new venture into the franchise foray.

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 fees

Fitness Together franchise fees total around $54,900, which is more than the $37,000 average for the 200 largest franchises.

Franchise	Cost
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 fees

Equipment fees total $46,900 for Fitness Together. This is less than the $180,023 average for the top 200 franchises.

Equipment	Cost
Equipment	$28,300 to $46,300
Signs	$8,700 to $10,500
Estimated total	$37,000 to $56,800

Real estate fees

Real 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.

Real estate	Cost
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 costs

Fitness 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 costs

Initial insurance costs for Fitness Together run $4,500. This means you'll be paying less than the overall nationwide average of $6,311.

Insurance	Cost
Insurance	$2,700 to $6,300
Estimated total	$2,700 to $6,300

Other expenses

Miscellaneous expenses for Fitness Together total $21,094 — less than the nationwide average of $69,970.

Other	Cost
Miscellaneous opening costs	$300 to $1,000
Three months' additional funds	$11,162 to $29,726
Estimated total	$11,462 to $30,726

All costs were found using the 200 largest franchises nationwide using Franchise Direct's list of more than 300 franchises, and are accurate as of 2021.

How to finance

Since the estimated total for Fitness Together is on the more costly side, we recommend following these steps to get fully financed:

1. Go to the Fitness Together franchising website and review its financial requirements, including cash-on-hand requirements.
2. Reach out to Fitness Together about in-house financing for franchisees.
3. 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.
4. Compare lenders based on amounts, interest rates and what types of personal and business credit history they accept.
5. Once you settle on a lender, gather all required documents, including account statements and assets.
6. 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.

Also check if Fitness Together franchise financing is available. You may be able to get some of the costs covered for less than you would with other traditional funding options.

Compare small business lenders

You 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.

How Fitness Together stacks up

Compare 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 line

Fitness 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.