Basecamp Fitness Franchise Cost, Revenue & Review 2026
- Investment
- $513K – $833K
- Disclosed sales
- $426K
- gross sales, not profit
- SBA charge-off
- 0.0%
- on 12 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Basecamp Fitness is a boutique fitness franchise offering fast-paced, 35-minute group HIIT classes. Franchisees run the studios, managing instructors, class scheduling, and membership growth.
FranchiseVerdict summary · 2026
A Basecamp Fitness franchise requires a total initial investment of $513K – $833K, including a $43K franchise fee and an ongoing 8.0% royalty[2]. Per the 2025 FDD, average unit revenue was $426K[2]. SBA 7(a) loans show a 0.0% charge-off rate across 12 loans[1]. FranchiseVerdict grade: B (Above 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: medium - issued 12 to 24 months ago; a newer filing is likely on file
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 scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $513K – $833K
- 86th pct Health & Fitn…
- Avg gross sales
- $426K
- 15th pct Health & Fitn…
- Royalty
- 8.0%
- 72nd pct Health & Fitn…
- Units
- 23
- 58th pct Health & Fitn…
- SBA charge-off
- 0.0%
- % 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 $513K – $833K including a $43K franchise fee, 8.0% ongoing royalty.
- RETURNSAverage unit revenue of $426K/year (median $370K).
- RISKVerdict B (Above average), verdict score 65/100 (higher is better). SBA loan charge-off rate of 0.0% across 12 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHPositive: net +3 franchised outlets in the latest year (4 opened, 1 closed); 11 signed but not yet open (Item 20).
- FLAGItem 4 discloses a bankruptcy of an officer or of a company an officer ran, not of the franchisor. Review Item 4 for details.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Basecamp Fitness Franchisor LLC
- Parent company
- Purpose Brands Holdings, LLC
- FDD Item 1, page 9 of the 2025 FDD
- Predecessor
- Basecamp Fitness, LLC (BFLLC)
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Thomas Leverton
- Incorporated in
- DE
- HQ
- 111 Weir Drive, Woodbury, MN 55125
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $196K
- Most recent fiscal year
Same owner · FDD Item 1, page 9
4 other brands on this site name Purpose Brands Holdings, LLC as parent or ultimate parent in their own FDD.
Portfolio: Purpose Brands
Grouped by the owner's name as each filing prints it (this page: the 2025 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
- Thomas Leverton
- Headquarters
- MN
- Founded
- 2013
- FDD year
- 2025
- States available
- 13
Can you afford it, and what does the money buy?
Entry cost runs 71% above the typical health & fitness franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $43K | $43K |
| Working capital (3–6 mo) | $60K | $95K |
| Equipment, build-out, other | $411K | $695K |
| Total initial investment | $513K | $833K |
Source: Basecamp Fitness 2025 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
- $513K – $833K
- Bottom third — review vs category
- Liquid capital req'd
- $60K – $95K
- Bottom third — review vs category
- Franchise fee
- $43K – $43K
- Top 40% of category vs category
- Royalty
- 8.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 10.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 8.0% of gross sales |
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $799 |
| Training fee | $3K |
| Transfer fee | $8K |
| Renewal fee | $5K |
| Inventory (initial) | $7K – $8K |
| Total fee load | 10.0% of rev |
What do units actually make?
Average unit sales run 11% below the health & fitness norm.
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for Basecamp Fitness until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
Total invested capital · disclosed
$750K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
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, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one Basecamp Fitness 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 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.
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%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for 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.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
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: 2025 FDD
Financial Performance
- Avg gross sales
- $426K
- Per unit, per year
- Median gross sales
- $370K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross revenue
- Sample size
- 16 outlets
- vs category median 11
- Range (low → high)
- $178K→$860KCited, not corroborated — printed on page 56 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2025
- The FDD edition these figures were read from
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
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 $426K/year in gross sales. Revenue-to-investment ratio: 0.6x.
Fee burden
Total ongoing fee load of 10.0% (near the Health & Fitness median).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 111.1% CAGR over 3 years across 23 units — operators are staying and new ones are joining.
Multi-unit rate
Only 4% of franchisees own multiple units. Could indicate challenging economics or a young system where operators haven't had time to expand.
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 Basecamp Fitness 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 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 23
- Opened
- 4
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 4.3%
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 83%
- vs corporate-owned
- Multi-unit owners
- 4.2%
- Net growth (3-yr)
- +111.1%
- Net unit change over 3 years
- 3-yr CAGR
- +111.1%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Not renewed
- 0
- Transferred
- 2
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 11
- 0.48 per open outlet · Item 20 Table 5
- Projected new
- 3
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 18 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
30 current owners across 18 states.
- CA 3
- MN 3
- SC 3
- WI 3
- AL 2
- FL 2
- IL 2
- IN 2
- IA 1
- KS 1
- MA 1
- MI 1
- +6 more states
Counts only, from the list the franchisor prints in Item 20; 5 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 12
- Loan volume
- $5.5M
- Median loan
- $506K
- 50th percentile
- Charge-off rate
- 0.0%
- on 12 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)
- 100.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 8
- Defaults
- 0
- Typical loan rate
- 8.7%
- avg rate to borrowers
- Franchised industry avg
- 15.8%
- brand beats franchise avg ↓
- Jobs supported
- 260
- 4.7 per loan
- Lender concentration
- 42%
- top lender's share
Borrower mix: 92% went to startups / new businesses, 8% 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.
Top lenders financing Basecamp Fitness franchisees
Showing 3 of 8 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 Basecamp Fitness from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 74%
- Avg interest rate
- 8.72%
- Lender concentration
- 41.7%
- Job velocity
- 4.7 per $100K
- NAICS benchmark
- 12.5%
- NAICS 713940
- Jobs supported
- 260
Top SBA lendersTop lender holds 42% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | The Huntington National Bank | 5 | $2.5M | N/A |
| 2 | GECU | 1 | $388K | N/A |
| 3 | Alerus Financial, National Association | 1 | $500K | N/A |
| 4 | U.S. Bank, National Association | 1 | $300K | N/A |
| 5 | Business Development Corporation of South Carolina | 1 | $511K | 0.0% |
| 6 | Hancock Whitney Bank | 1 | $350K | N/A |
| 7 | Live Oak Banking Company | 1 | $550K | N/A |
| 8 | Citizens Community Federal National Association | 1 | $371K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| FLFlorida | 3 | 0 | -- |
| MNMinnesota | 3 | 0 | -- |
| ILIllinois | 1 | 0 | -- |
| KSKansas | 1 | 0 | -- |
| MIMichigan | 1 | 0 | -- |
| SCSouth Carolina | 1 | 0 | 0.0% |
| TNTennessee | 1 | 0 | -- |
| TXTexas | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
With a 0.0% charge-off rate across 12 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% 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
Basecamp Fitness presents caution-level risk due to affiliate litigation exposure, undisclosed profitability metrics, modest unit growth, and high capital requirements relative to disclosed revenue.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed for the Basecamp Fitness brand. Two affiliate actions disclosed for The Bar Method brand (Illinois AG 2009 consent decree; NY AOD 2009), both resolved.
Bankruptcy (Item 4)
Subject: an officer. An officer’s own bankruptcy or a company an officer ran, not the franchisor’s
CEO Thomas Leverton left CEC Entertainment (Chuck E. Cheese parent) in Feb 2020; company filed Chapter 11 ~4 months later (June 2020), confirmed Dec 2020. CFO R. John Pindred left Family Christian LLC in Sept 2014; it filed Chapter 11 ~5 months later (Feb 2015), confirmed Aug 2015.
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 financials are for the guarantor SEB Franchising Guarantor LLC (SFG), a shell entity holding $5,000,000 cash that guarantees franchisor performance; its only revenue is interest income ($196,144 in 2024, $146 in 2023). The operating franchisor is Basecamp Fitness Franchisor LLC. Separate audited statements of affiliate Anytime Fitness, LLC are also attached for disclosure only.
ⓘ 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
- Can negotiate own supplier terms: No
Score breakdown · what drove the 65 / 100 verdict
- 01HIGHLitigation involving affiliate (The Bar Method) for unregistered franchise sales in Illinois and New York raises regulatory compliance concerns and potential parent company culpability
- 02MEDModest unit growth of 18.8% YoY with only 23 total units suggests limited brand traction and potential saturation risk in small franchisee pool
- 03MINORHigh initial investment range ($513K–$832K) with 8% royalty creates significant breakeven burden if average revenue doesn't scale consistently
- 04MINOR6-year term is shorter than industry standard (10 years), increasing renewal uncertainty and reducing franchisee long-term security
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 10.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · 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 territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory population | 50,000 |
| 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 |
| Mandatory arbitration | Yes |
| Arbitration location | Minneapolis, Minnesota |
| Jury trial waiver | Yes |
| Governing law | MN |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed for the Basecamp Fitness brand. Two affiliate actions disclosed for The Bar Method brand (Illinois AG 2009 consent decree; NY AOD 2009), both resolved.
Items 10, 11
Training & Operations
- Classroom training
- 47 hrs
- On-the-job training
- 85 hrs
- Training location
- Virtual, Woodbury MN, or another location designated by franchisor
- Ongoing training
- Required
- Time to open
- 12 mo
- From signing to launch
- Site selection
- franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- ProVision provided
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ProVision provided
Item 20 · call current owners
Franchisee Contacts
35 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 Basecamp Fitness franchise?
The total investment to open a Basecamp Fitness franchise ranges from $513K – $833K, 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 Basecamp Fitness franchise owners earn?
According to Item 19 of the Basecamp Fitness FDD, the average gross sales per unit is $426K. The median is $370K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Basecamp Fitness?
Basecamp Fitness is franchised by Basecamp Fitness Franchisor LLC. Its parent company is Purpose Brands Holdings, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Basecamp 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 Basecamp Fitness FDD and qualifies whose outlets they describe.
What is Basecamp Fitness's franchise failure rate?
Based on SBA 7(a) loan data, Basecamp Fitness has a charge-off rate of 0.0% across 12 loans, meaning 0.0% 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 Basecamp Fitness franchise locations are there?
As of their most recent FDD filing, Basecamp Fitness has 23 total units in the United States, including 19 franchised units and 4 company-owned units. 4 new units were opened in the latest reporting year.
Is Basecamp Fitness a good franchise to buy?
FranchiseVerdict rates Basecamp Fitness as a B-grade franchise with a verdict score of 65 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.