Bottom line
- Total investment $390K – $759K including a $60K franchise fee, 7.0% ongoing royalty.
- Average unit revenue of $751K/year (median $733K). Estimated payback in 3.2 years.
- Rated STRONG with a risk score of 34/100. SBA loan default rate of 0.0% across 126 loans (below the industry average).
- System growing at 22860% CAGR over 3 years with 46 total units — strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one BODYBAR Pilates unit return on the cash you put in?
Unlevered ROIC · per unit
35%
In Yale's "attractive" band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 BODYBAR Pilates units return on equity?
Equity IRR · 5-yr
32.3%
4.06× MOIC
Year-1 DSCR
2.50×
EBITDA ÷ debt service
Equity required
$6.6M
on $16.5M purchase
Total debt
$10.0M
SBA $5.0M + senior + seller note
Overview
About
BODYBAR franchisees operate boutique pilates studios offering reformer and mat classes in protected territories. Day-to-day operations include class scheduling, instructor management, client retention programs, and retail sales of apparel/accessories. Revenue is driven by membership subscriptions, class packages, and private training sessions.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 15 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
15
states with franchisees (per FDD Item 12)
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
BODYBAR presents moderate-to-cautious risk: strong unit growth masks the absence of audited financial disclosure, and franchisor's going concern issues raise questions about long-term viability and franchisee support.
Score breakdown · what drove the 34 / 100 rating
- 01MEDNo Item 19 (Financial Performance Representations) disclosed — cannot validate the $751k avg revenue or $182k net income claims independently
- 02MEDHigh initial investment ($389k-$759k) relative to disclosed net income ($182k) creates 2.1-4.2 year payback horizon with execution risk
- 03MINORRapid unit growth (84% YoY) is unusual for pilates studios and may indicate aggressive recruitment masking underlying unit economics problems
- 04HIGHGoing Concern status is FALSE, suggesting potential franchisor financial instability or restructuring that could impact support
- 05MINOR7% royalty on gross sales (not net) combined with high startup costs creates cash flow pressure for new franchisees
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
21 numbers
One-time purchase · CSV download · Validation questions included
FDD download
BODYBAR Pilates · FDD (2025) PDF