FranchiseVerdict
D1 Training logo
FV-00695·MODERATEExcellent100

D1 Training

Health & FitnessFranchising since 2015Website
Investment
$481K – $933K
85th pct Health & Fitn…
Avg revenue
$680K
35th pct Health & Fitn…
Royalty
Units
129
81st pct Health & Fitn…
SBA default

Bottom line

  • Total investment $481K – $933K including a $60K franchise fee.
  • Average unit revenue of $680K/year (median $626K). Estimated payback in 2.6 years.
  • Rated MODERATE with a risk score of 62/100.
  • Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.

Item 1 · who you're contracting with

The Franchisor

Legal entity
D1 SPORTS FRANCHISE, LLC
Parent company
D1 New HoldCo, LLC
Incorporated in
Tennessee
HQ
7115 S. Springs Drive, Franklin, Tennessee 37067
Auditor
Citrin Cooperman & Company, LLP
Audited financials
Franchisor revenue
$7.4M
vs $9.6M prior year
⚠ Going-concern note
Disclosed in FDD 2025
Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.

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 D1 Training unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $679,601
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: fitness
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $481K–$933K
Working capital
$
FDD reports $35K–$55K

Unlevered ROIC · per unit

27%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$204K
EBITDA margin
30.0%
Total invested
$752K
Payback
44 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 D1 Training units return on equity?

Edit assumptions

Equity IRR · 5-yr

33.4%

4.22× MOIC

Year-1 DSCR

2.43×

EBITDA ÷ debt service

Equity required

$5.9M

on $15.6M purchase

Total debt

$9.7M

SBA $5.0M + senior + seller note

SBA 7(a) request ($7.8M) exceeds the $5M program cap. Excess capped automatically; backfill via conventional or equity.

Overview

About

D1 Training franchisees operate fitness facilities offering strength and conditioning training, athletic performance coaching, and group fitness classes. Franchisees manage day-to-day operations including client acquisition, staff scheduling, facility maintenance, and class instruction, with the franchisor claiming a semi-absentee model is achievable.

CEO
Will Bartholomew
Founded
2014
FDD year
2025
States available
32

Item 7 · what it costs

The Vitals

Total investment
$481K – $933K
All-in to open one unit
Liquid capital
$35K – $55K
Cash you must have on hand
Franchise fee
$60K
Royalty
the greater of (i) seven percent (7%) of Gross Sales, or …
Ad fund
2.0%
typical 3–5%
Total fee load
9.0%
vs 9–13% typical
Payback period
2.6 yrs
From v3 / Item 19

Item 19

Financial Performance

Avg gross sales
$680K
Per unit, per year
Median gross sales
$626K
Item 19 type
Full Year
Sample size
31 units
vs category median 12 · large
Range (low → high)
$261K$1.6M
Cohort dispersion
Transparency
8 / 5
vs category median 4 / 5 · above
Revenue rank35th
vs Health & Fitness peers
Investment cost rank85th
Lower investment ranks lower (better)
Royalty rate rank69th
Lower royalty = lower percentile (better)
Unit count rank81th
vs Health & Fitness peers
Risk score rank53th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
129
Opened
48
Last reporting year
Closed
10
Turnover rate
7.8%
Company-owned
2
Corporate units in the system
% franchised
98%
vs corporate-owned
Net growth (yr3)
+41.1%
Net unit change last year
3-yr CAGR
+60.8%
Compounded over last 3 years
2023
127+38
Franchised units
2024
90
Franchised units
2025
79
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 5 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).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 5 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

No SBA loan data available for this brand.

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

62
Risk · 0-100
MODERATE62 / 100

D1 Training presents elevated litigation risk with fraud allegations undermining the semi-absentee model promise, regulatory compliance concerns, and corporate going concern issues that contradict unit growth metrics.

Score breakdown · what drove the 62 / 100 rating

  1. 01HIGHActive multi-franchisee litigation alleging fraud and misrepresentation of semi-absentee model — core business claim is disputed
  2. 02MINORAffiliate (BIO-One) regulatory settlements for unregistered franchise sales suggest compliance and disclosure issues across related entities
  3. 03HIGHGoing concern status despite 41% YoY unit growth indicates profitability/cash flow problems at corporate level despite expansion
  4. 04HIGH7% royalty on $679k avg revenue ($47.6k annually) combined with $480k+ initial investment creates extended payback period with litigation risk overhang
  5. 05MINORLack of Item 19 (financial performance representations) in disclosure despite franchisor publishing average revenue figures ($679,601) — potential UFOC violation

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Radius
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
17
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Tennessee

Item 11

Training & Operations

Classroom training
37 hrs
On-the-job training
38 hrs
POS system
MindBody
Operating tech stack

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

99 numbers

Locked
(919) 535-••••
WA
(850) 641-••••
WA
(985) 980-••••
WA

One-time purchase · CSV download · Validation questions included

FDD download

D1 Training · FDD (2025) PDF

Single-page checkout · instant download · CSV export of contacts available separately above