Highlights
- Every week, 7.0% of gross sales goes to the franchisor before rent, food or labor: royalty The greater of 7% of Gross Sales or $2,500 per month.p.22
- Opening one unit is estimated at $362,300 to $857,700, including a $60,000 initial fee.p.30
- F45 discloses unit performance in Item 19.p.65
- The system went from 729 outlets at the start of 2023 to 708 at the end of 2025, a net loss of 21.p.68
- In 2025, closures of all kinds equalled 9.2% of the outlets open at the start of the year.
Tools, from this filing's numbers
What F45 takes off the top
Royalty The greater of 7% of Gross Sales or $2,500 per month, applied to your own sales estimate. The rates are the filing's; the sales are yours.
Preset to the filing's Item 19 figure, $480,832 a year.p.65
Cash you would need to open
The filing's Item 7 range, $362,300 to $857,700, is an estimate for one unit including only its first months. Slide between the low and high cases and add the months of runway you want beyond that.
Monthly operating cash is taken as one-twelfth of your weekly-sales figure above times 52, a placeholder for rent, labor and food until you have your own budget.
Where the units went in 2025
Every outlet that opened, and every one that left, drawn from Item 20 Table 3 to scale.p.76
Total outlets, 2022 to 2025
Compare F45 with another brand
Side by side, every figure cited.
Fees (Items 5 and 6)
| Initial franchise fee, standard | $60,000 | p.19 |
| Royalty | The greater of 7% of Gross Sales or $2,500 per month | p.22 |
| Advertising fund | not stated | |
| Technology fee | held for review |
The filing lists every recurring and conditional fee in Item 6. The report carries all of them.
Estimated initial investment (Item 7)
| Expenditure | Low | High | |
|---|---|---|---|
| Establishment Fee | $60,000 | $60,000 | p.29 |
| Document Preparation Fee | $2,500 | $2,500 | p.29 |
| Equipment Pack | $115,000 | $115,000 | p.29 |
| Equipment Pack Shipping, Taxes, and Duties | $0 | $20,000 | p.29 |
| Induction Seminar | $1,500 | $1,500 | p.29 |
| Head Trainer Induction | $600 | $600 | p.29 |
| Travel and Living Expenses during Training | $4,500 | $9,000 | p.29 |
| Real Property | $5,000 | $25,000 | p.29 |
| Architectural Floor Plan Design, Engineering, and Construction/Permit Documents | $10,000 | $20,000 | p.29 |
| Leasehold Improvements | $1,000 | $350,000 | p.29 |
| Utility Deposits | $1,000 | $2,000 | p.29 |
| Furniture, Fixtures, Other Equipment | $4,000 | $10,000 | p.30 |
| Office Equipment and Supplies | $1,000 | $3,000 | p.30 |
| Business Licenses and Permits | $1,000 | $3,000 | p.30 |
| Promotional Merchandise | $3,000 | $3,000 | p.30 |
| Computer System | $1,000 | $2,000 | p.30 |
| Professional Services | $1,000 | $5,000 | p.30 |
| Insurance | $1,000 | $4,000 | p.30 |
| Grand Opening | $25,000 | $25,000 | p.30 |
| AED | $1,500 | $2,100 | p.30 |
| Optional Recovery Amenities | $40,000 | $67,000 | p.30 |
| F45 Body Fat Scanner | $8,500 | None | p.30 |
| Music Licenses | $1,700 | $2,000 | p.30 |
| Minimum Monthly Royalty (initial 3-month period) | $7,500 | $7,500 | p.30 |
| Additional Funds (initial 3-month period) | $60,000 | $100,000 | p.30 |
| Exterior and Interior Signage | $5,000 | $10,000 | p.30 |
| Total | $362,300 | $857,700 | p.30 |
Revenue (Item 19)
F45 reports a financial performance figure of $480,832 across 676 outlets for March 1, 2025 through February 28, 2026.p.65 What the figure measures, which units were excluded and what it leaves out are in the report.
Units (Item 20)
| Type | Year | Start | End | Net | |
|---|---|---|---|---|---|
| franchised | 2023 | 728 | 789 | 61 | p.68 |
| company owned | 2023 | 3 | 2 | 1 | p.68 |
| total | 2023 | 729 | 791 | 62 | p.68 |
| franchised | 2024 | 789 | 751 | -38 | p.68 |
| company owned | 2024 | 2 | 2 | 0 | p.68 |
| total | 2024 | 791 | 753 | -38 | p.68 |
| franchised | 2025 | 751 | 707 | -44 | p.68 |
| company owned | 2025 | 2 | 2 | 0 | p.68 |
| total | 2025 | 753 | 708 | -45 | p.68 |
Openings and closures, system totals (Table 3)
| Year | Start | Opened | Terminated | Non-renewed | Reacquired | Ceased, other | End | |
|---|---|---|---|---|---|---|---|---|
| 2023 | 728 | 136 | 42 | 13 | 0 | 20 | 789 | p.76 |
| 2024 | 789 | 34 | 46 | 16 | 0 | 10 | 751 | p.76 |
| 2025 | 751 | 26 | 54 | 13 | 0 | 2 | 706 | p.76 |
Arithmetic checks flagged: item20 table1 company_owned 2023: net change does not reconcile; Item 20 Table 3 does not foot for 2025: start + opened - closures = 708, filing states 706. The figures shown are as filed.
Litigation (Item 3)
Item 3 has not been read for this filing yet, or the two readers disagreed and it is held for review.
Scorecard
Rank among the brands on this site that report the figure, on each list's own direction. No blended grade. How the lists work.
| Cost to open | $362,300 | 24 of 51 |
| Royalty plus ad fund | 7.0% | 10 of 43 |
| Three-year unit growth | -2.9% | 44 of 54 |
| Closure rate, 2025 | 9.2% | 7 of 51, 1 = most |
| Discloses unit revenue | yes | |
| Litigation disclosed | held | held |
Source
Wisconsin Department of Financial Institutions franchise filing 640736, effective 4/2/2026, expires 4/2/2027. Extracted 2026-09-04 by two independent readers; only figures both agreed on, whose quoted words appear on the cited page, are shown. 5 fields held for review. How this works.