9round Franchise Cost, Revenue & Review 2026
- Investment
- $160K – $390K
- Disclosed sales
- not disclosed
- SBA charge-off
- 26.4%
- on 111 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
9Round is a boutique-fitness franchise offering fast, 30-minute kickboxing-based circuit workouts with trainer guidance. Franchisees run compact studios on a membership model, coaching members through the nine-station circuit.
FranchiseVerdict summary · 2026
A 9ROUND franchise requires a total initial investment of $160K – $390K, including a $25K franchise fee and an ongoing 6.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. SBA 7(a) loans show a 26.4% charge-off rate across 111 loans[1]. FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $160K – $390K
- 27th pct Health & Fitn…
- Avg gross sales
- N/A
- Royalty
- 6.0%
- 13th pct Health & Fitn…
- Units
- 142
- 82nd pct Health & Fitn…
- SBA charge-off
- 26.4%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Health & Fitness · color = vs category peers
Green = favorable by >10% vs Health & Fitness median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $160K – $390K including a $25K franchise fee, 6.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict C (Average), verdict score 40/100 (higher is better). SBA loan charge-off rate of 26.4% across 111 loans (well above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHNegative: net -58 franchised outlets in the latest year (4 opened, 83 closed) (Item 20).
- FLAG66 units terminated last reporting year (46.5% of the system). Ask existing franchisees why.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- 9Round Franchising, LLC
- Parent company
- None (no controlling parent)
- Predecessor
- 9Round, LLC
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Heather Hudson
- Incorporated in
- South Carolina
- HQ
- 847 NE Main Street, Simpsonville, South Carolina 29681
- Auditor
- Elliott Davis, LLC
- Audited financials
- Franchisor revenue
- $7.8M
- vs $11.6M prior year
Same owner · FDD Item 1
12 other brands on this site name None (no controlling parent) as parent or ultimate parent in their own FDD.
- ADVANTAGE COLLEGE PLANNINGB
- AMRAMPA
- AlignLifeC
- Body Alive StudioC
- Ivybrook AcademyA
- JAN-PRO Commercial CleaningA
- ONEZOC
- Once Upon A ChildA
- Original Rainbow ConeC
- Pizza SchmizzaB
- SarahCareF
- True RESTC
Grouped by the owner's name as each filing prints it (this page: the 2026 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Heather Hudson
- Headquarters
- South Carolina
- Founded
- 2008
- FDD year
- 2026
- States available
- 30
Can you afford it, and what does the money buy?
Entry cost runs 30% below the typical health & fitness franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $25K | $25K |
| Working capital (3–6 mo) | $25K | $61K |
| Equipment, build-out, other | $111K | $304K |
| Total initial investment | $160K | $390K |
Source: 9ROUND 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $160K – $390K
- Top 40% of category vs category
- Liquid capital req'd
- $25K – $61K
- Middle of category vs category
- Franchise fee
- $25K – $25K
- Top 40% of category vs category
- Royalty
- 6.0%
- Set by a formula · typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of net sales |
| Marketing / ad fund | 2.0% of net sales |
| Technology fee | $499 |
| Transfer fee | $5K |
| Renewal fee | $1K |
| Inventory (initial) | $40K – $42K |
| Total fee load | 8.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
9ROUND makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one 9ROUND unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 8.0% (near the Health & Fitness median).
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System contracting at -45.5% CAGR over 3 years. Investigate whether closures are franchisor-driven consolidation or franchisee exits.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Health & Fitness medians
How 9round Compares
Category median of published Health & Fitness brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 142
- Opened
- 4
- Last reporting year
- Closed
- 83
- Terminated
- 66
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 12
- Term expired, not renewed (per Item 20)
- Turnover rate
- 41.8%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 99%
- vs corporate-owned
- Net growth (3-yr)
- -45.5%
- Net unit change over 3 years
- 3-yr CAGR
- -45.5%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 66
- Not renewed
- 12
- Reacquired
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 15 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
99 current owners across 15 states.
- CA 36
- FL 13
- HI 9
- IN 6
- AL 4
- GA 4
- MA 4
- AK 3
- AR 3
- CO 3
- CT 3
- IA 3
- +3 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
A system losing more than 10% of its units year-over-year is a red flag. Check whether closures are concentrated in specific regions.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 111
- Loan volume
- $10.7M
- Median loan
- $82K
- 50th percentile
- Charge-off rate
- 26.4%
- on 111 loans · rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 73.6%
- 5-yr charge-off
- 25.0%
- Loans approved 2021+
- Active lenders
- 44
- Defaults
- 24
- Typical loan rate
- 6.9%
- avg rate to borrowers
- Franchised industry avg
- 15.8%
- brand above franchise avg ↑
- Jobs supported
- 698
- 6.5 per loan
- Lender concentration
- 18%
- top lender's share
Borrower mix: 62% went to startups / new businesses, 38% to established operators
Franchise vs independent — in fitness and recreational sports centers, franchised businesses charge off at 15.8% vs 18.2% for independents — franchising is associated with 13% lower SBA default risk in this category.
Vintage analysis
9round charge-off rate by loan vintage
Top lenders financing 9round franchisees
Showing 3 of 44 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for 9round from SBA 7(a) FOIA data.
- Principal loss rate
- 15.4%
- Avg SBA guarantee
- 75%
- Avg interest rate
- 6.91%
- Avg chargeoff amount
- $69K
- Lender concentration
- 18.0%
- Job velocity
- 6.5 per $100K
- Startup risk premium
- +18.0pp
- NAICS benchmark
- 12.5%
- NAICS 713940
- Jobs supported
- 698
Top SBA lendersTop lender holds 18% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | Stearns Bank National Association | 20 | $2.1M | 18.8% |
| 2 | Wells Fargo Bank National Association | 9 | $1.4M | 55.6% |
| 3 | Manufacturers and Traders Trust Company | 7 | $418K | 28.6% |
| 4 | Celtic Bank Corporation | 7 | $925K | 33.3% |
| 5 | The Huntington National Bank | 7 | $431K | 75.0% |
| 6 | Union Bank and Trust Company | 4 | $257K | 0.0% |
| 7 | CDC Small Business Finance Corp. | 4 | $549K | 50.0% |
| 8 | JPMorgan Chase Bank, National Association | 3 | $255K | 0.0% |
| 9 | Southern Bank | 3 | $362K | 0.0% |
| 10 | U.S. Bank, National Association | 3 | $164K | 0.0% |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 19 | 5 | 33.3% |
| CACalifornia | 15 | 1 | 14.3% |
| MOMissouri | 8 | 0 | 0.0% |
| FLFlorida | 6 | 2 | 40.0% |
| NHNew Hampshire | 6 | 0 | 0.0% |
| COColorado | 5 | 1 | 20.0% |
| MNMinnesota | 4 | 3 | 100.0% |
| WIWisconsin | 4 | 0 | 0.0% |
| ARArkansas | 3 | 1 | 33.3% |
| KSKansas | 3 | 1 | 50.0% |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
A 26.4% charge-off rate means roughly 1 in 4 franchisees failed to repay their SBA loan. Investigate what changed.
What could kill this investment?
SBA loans charge off at 26.4% — 65% above the 16.0% national norm, i.e. higher lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
9ROUND presents HIGH RISK due to accelerating unit contraction (-27.6% YoY), complete absence of financial performance data, and high fixed royalty minimums that may exceed earnings in struggling locations.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Elliott Davis, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: Yes
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 40 / 100 verdict
- 01MED27.6% unit decline YoY indicates rapidly shrinking franchise system and potential market saturation or operational failure
- 02MINORNo average revenue or net income disclosure (Item 19) prevents accurate ROI assessment and suggests franchisor may be hiding weak unit economics
- 03MINORHigh royalty floor of $600/month ($7,200 annually) creates significant fixed cost burden even for underperforming locations
- 04MED200-unit system is relatively small; continued decline below 150 units would indicate critical mass loss
- 05MEDNo disclosed going concern issues, but steep unit decline raises questions about franchisor financial stability
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 18 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | No |
| Arbitration location | Simpsonville, South Carolina |
| Jury trial waiver | Yes |
| Governing law | South Carolina |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 28 hrs
- On-the-job training
- 27 hrs
- Training location
- Greenville, South Carolina, or as otherwise specified
- Ongoing training
- Required
- Time to open
- 3 mo
- From signing to launch
- Site selection
- franchisee
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
99 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a 9ROUND franchise?
The total investment to open a 9ROUND franchise ranges from $160K – $390K, with an initial franchise fee of $25K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do 9ROUND franchise owners earn?
9ROUND makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns 9ROUND?
9ROUND is franchised by 9Round Franchising, LLC. Its parent company is None (no controlling parent). Source: FDD Item 1, 2026 filing.
What is Item 19 in the 9ROUND FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the 9ROUND FDD and qualifies whose outlets they describe.
What is 9ROUND's franchise failure rate?
Based on SBA 7(a) loan data, 9ROUND has a charge-off rate of 26.4% across 111 loans, meaning 26.4% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
How many 9ROUND franchise locations are there?
As of their most recent FDD filing, 9ROUND has 142 total units in the United States, including 141 franchised units and 1 company-owned units. 4 new units were opened in the latest reporting year.
Is 9ROUND a good franchise to buy?
FranchiseVerdict rates 9ROUND as a C-grade franchise with a verdict score of 40 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.