Anytime Fitness Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Anytime Fitness is a 24-hour gym franchise offering keyfob access to convenient neighborhood clubs plus coaching and personal training. Franchisees operate compact, lightly staffed fitness centers built on recurring memberships.
FranchiseVerdict summary · 2026
A Anytime Fitness franchise requires a total initial investment of $539K – $905K, including a $23K – $43K franchise fee. Per the 2026 FDD, average unit revenue was $447K[2]. SBA 7(a) loans show a 11.7% charge-off rate across 1,108 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $539K – $905K
- 88th pct Health & Fitn…
- Avg gross sales
- $447K
- 12th pct Health & Fitn…
- Royalty
- N/A
- Units
- 2,282
- 98th pct Health & Fitn…
- SBA charge-off
- 11.7%
- % 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 avg · 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 $539K – $905K including a $43K franchise fee.
- RETURNSAverage unit revenue of $447K/year (median $399K).
- RISKVerdict A (Strongest tier), verdict score 59/100 (higher is better). SBA loan charge-off rate of 11.7% across 1108 loans (above the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- FLAGBankruptcy history disclosed in the FDD. Review Item 4 for details before proceeding.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Anytime Fitness Franchisor LLC
- Parent company
- Purpose Brands Holdings, LLC
- Ultimate parent
- Purpose Brands Holdings, LLC (jointly owned by Anytime Worldwide, LLC and Ultimate Fitness Holdings, LLC)
- Predecessor
- Anytime Fitness, LLC (AFLLC)
- Prior franchisor entity
- CEO title
- Chief Executive Officer of parent companies Purpose Brands Holdings, LLC and Purpose Brands Intermediate, LLC
- Thomas Leverton
- Incorporated in
- Delaware
- HQ
- 111 Weir Drive, Woodbury, MN 55125
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $184.1M
- vs $317.0M prior year
Overview
About
- CEO
- Thomas Leverton
- Headquarters
- Minnesota
- FDD year
- 2026
- States available
- 49
Can you afford it, and what does the money buy?
Entry cost runs 26% above 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 | $43K | $43K |
| Working capital (3–6 mo) | $47K | $49K |
| Equipment, build-out, other | $449K | $814K |
| Total initial investment | $539K | $905K |
Source: Anytime Fitness 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
- $539K – $905K
- Bottom third — review vs category
- Liquid capital req'd
- $47K – $49K
- Bottom third — review vs category
- Franchise fee
- $23K – $43K
- Top 40% of category vs category
- Royalty
- Flat $842/month per center (not currently percentage-base…
- Ad fund
- Currently $900/month per center flat fee (General Adverti…
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty (flat) | Currently $842/month per center flat "Monthly Fee" (subject to annual CPI increase each January); franchisor reserves right to replace with percentage-based monthly royalty of up to 8% of Gross Revenue on 30 days' notice |
| Technology fee | $799 |
| Transfer fee | $10K |
| Renewal fee | $8K |
| Inventory (initial) | $4K – $4K |
What do units actually make?
Average unit sales run 27% below the health & fitness norm.
Source: FDD 2026 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$130K
29.0% margin
Unlevered ROIC
17%
EBITDA / total invested capital
Payback
5.9 yrs
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real lease quote, labor market, and build-out budget.
Returns model · single-unit ROIC
What would one Anytime Fitness unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
17%
Below the 30–60% attractive-franchise band
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 Anytime Fitness units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$2.0M
on $9.8M purchase
Total debt
$7.9M
SBA $4.9M + senior + seller note
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
- Avg gross sales
- $447K
- Per unit, per year
- Median gross sales
- $399K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- historical - franchisee revenue (2 franchised cohorts) + company-owned centers statement of revenue/expenses/earnings (1 cohort, franchisee-adjusted)
- Sample size
- 1,683 outlets
- vs category median 12 · large
- Range (low → high)
- $90K→$2.0M
- Cohort dispersion (min → max)
- Quartile band
- $233K→$747K
- Bottom 25% → top 25%
- Reporting year
- 2026
- Fiscal year the figures cover
- Source filing
- FDD 2026
- The FDD edition these figures were read from
- Transparency
- 8 / 10
- vs category median 4 / 10 · above
Compared against 173 Health & Fitness brands
Revenue is only 0.6x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $447K/year in gross sales. Revenue-to-investment ratio: 0.6x.
Disclosure
Transparency score 8/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System roughly stable (-1.2% 3-year CAGR) with 2,282 units.
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 averages
How Anytime Fitness Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 2,282
- Opened
- 53
- Last reporting year
- Closed
- 3
- Terminated
- 39
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 30
- Term expired, not renewed (per Item 20)
- Turnover rate
- 3.2%
- Company-owned
- 11
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- -1.2%
- Net unit change over 3 years
- 3-yr CAGR
- -1.2%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 53
- Closed (3yr)
- 3
- Terminated (3yr)
- 39
- Non-renewed (3yr)
- 30
- Transfers (3yr)
- 243
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 50 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.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 1,108
- Loan volume
- $449.0M
- Median loan
- $288K
- 50th percentile
- Charge-off rate
- 11.7%
- 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)
- 88.3%
- 5-yr charge-off
- 2.0%
- Loans approved 2021+
- Active lenders
- 249
- Defaults
- 94
- Typical loan rate
- 6.8%
- avg rate to borrowers
- Franchised industry avg
- 15.8%
- brand beats franchise avg ↓
- Jobs supported
- 7,050
- 1.6 per loan
- Lender concentration
- 17%
- top lender's share
Borrower mix: 54% went to startups / new businesses, 46% 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
Anytime Fitness charge-off rate by loan vintage
Shaded area: recent vintages with few resolved loans; rates may change as loans mature.
Top lenders financing Anytime Fitness franchisees
Showing 3 of 249 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.
Premium insight
SBA Lending Report
Deep-dive into Anytime Fitness's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 24-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
What could kill this investment?
SBA loans charge off at 11.7% — 27% below the 16.0% national norm, i.e. lower 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
Litigation (Item 3)
4 disclosed cases, none directly against the U.S. franchisor entity. (1) AFI v. Sant Cugat Fitness/Reus Fitness (Spain, filed 2024) - injunction/damages for early termination, non-compete violation, member data misuse; franchisees counterclaimed re: support/marketing fund mismanagement; in mediation. (2) Canadas Fitness v. AFI (Spain, filed 2021) - former franchisee alleged breach of support obligations and untruthful disclosures, sought 1.1M EUR; dismissed after trial Nov 2023, plaintiff appealed Jan 2024. (3) AFI v. Health & Performance S.L. et al. (Spain, filed 2025) - injunction/damages for early termination and non-compete violation; defendant counterclaimed alleging supplier overcharging, seeking 40,000 EUR. (4) Illinois AG v. The Bar Method Franchising/Inc. (2009) - unregistered franchise sales; consent decree, $5,000 penalty. Also an NY AG investigation of The Bar Method Inc. (2009) resulting in Assurance of Discontinuance and $2,500 payment (counted as part of the historical Bar Method matters).
Largest disclosed settlement: $5,000
Bankruptcy (Item 4)
Disclosed in last 7 years
Thomas Leverton, CEO of parent companies Purpose Brands Holdings, LLC and Purpose Brands Intermediate, LLC, was previously CEO of CEC Entertainment, Inc. (Chuck E. Cheese) which filed Chapter 11 bankruptcy in June 2020, approximately 4 months after Leverton left; plan of reorganization confirmed Dec 2020.
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
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 59 / 100 verdict
- 01MINORSystem declining: -0.9% YoY unit contraction signals market saturation or franchisee struggles despite 2,310 locations
- 02HIGHLitigation exposure: Spain franchisee breach-of-duty lawsuit on appeal + affiliate regulatory actions (Illinois/New York) indicate FDD disclosure and compliance vulnerabilities
- 03MINORThin margins: $112,687 avg net income on $441,894 revenue (25.5% net margin) leaves minimal buffer for underperformance or unexpected costs
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 6 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 3 mi |
| Territory population | 30,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Minneapolis, Minnesota |
| Jury trial waiver | Yes |
| Governing law | Minnesota |
| Litigation count | 4 |
View Item 3 litigation summary
4 disclosed cases, none directly against the U.S. franchisor entity. (1) AFI v. Sant Cugat Fitness/Reus Fitness (Spain, filed 2024) - injunction/damages for early termination, non-compete violation, member data misuse; franchisees counterclaimed re: support/marketing fund mismanagement; in mediation. (2) Canadas Fitness v. AFI (Spain, filed 2021) - former franchisee alleged breach of support obligations and untruthful disclosures, sought 1.1M EUR; dismissed after trial Nov 2023, plaintiff appealed Jan 2024. (3) AFI v. Health & Performance S.L. et al. (Spain, filed 2025) - injunction/damages for early termination and non-compete violation; defendant counterclaimed alleging supplier overcharging, seeking 40,000 EUR. (4) Illinois AG v. The Bar Method Franchising/Inc. (2009) - unregistered franchise sales; consent decree, $5,000 penalty. Also an NY AG investigation of The Bar Method Inc. (2009) resulting in Assurance of Discontinuance and $2,500 payment (counted as part of the historical Bar Method matters).
Items 10, 11
Training & Operations
- Classroom training
- 39 hrs
- On-the-job training
- 24 hrs
- Training location
- Woodbury, Minnesota (corporate offices) plus virtual/self-paced online courses; in-person job shadowing at a designated location
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisor assists via real estate department; franchisee selects, franchisor approves
- Franchisor financing
- Not offered
- Item 10
- POS system
- ProVision Technology System (club management software)
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ProVision Technology System (club management software)
Item 20 · call current owners
Franchisee Contacts
2,444 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Anytime Fitness · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Anytime Fitness franchise?
The total investment to open a Anytime Fitness franchise ranges from $539K – $905K, with an initial franchise fee of $43K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Anytime Fitness franchise owners earn?
According to Item 19 of the Anytime Fitness FDD, the average gross sales per unit is $447K. The median is $399K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Anytime Fitness 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 Anytime Fitness FDD and qualifies whose outlets they describe.
What is Anytime Fitness's franchise failure rate?
Based on SBA 7(a) loan data, Anytime Fitness has a charge-off rate of 11.7% across 1,108 loans, meaning 11.7% 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 Anytime Fitness franchise locations are there?
As of their most recent FDD filing, Anytime Fitness has 2,282 total units in the United States, including 2,271 franchised units and 11 company-owned units. 53 new units were opened in the latest reporting year.
Is Anytime Fitness a good franchise to buy?
FranchiseVerdict rates Anytime Fitness as a A-grade franchise with a verdict score of 59 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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.