FranchiseVerdict
FIRE Fitness Camp logo
FV-00936·MODERATEExcellent91

FIRE Fitness Camp

Health & FitnessFranchising since 2019Website
Investment
$183K – $437K
32nd pct Health & Fitn…
Avg revenue
$266K
7th pct Health & Fitn…
Royalty
7.0%
27th pct Health & Fitn…
Units
24
59th pct Health & Fitn…
SBA default
0.0%
vs <3% typical

Bottom line

  • Total investment $183K – $437K including a $50K franchise fee, 7.0% ongoing royalty.
  • Average unit revenue of $266K/year (median $258K).
  • Rated MODERATE with a risk score of 56/100. SBA loan default rate of 0.0% across 12 loans (below the industry average).

Item 1 · who you're contracting with

The Franchisor

Legal entity
FIRE Fitness Affiliation, LLC
Incorporated in
Wisconsin
HQ
3050 Village Park Drive, Plover, WI 54467
Auditor
KerberRose SC
Audited financials
Franchisor revenue
$1.1M
vs $1.2M prior year

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 FIRE Fitness Camp unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $265,695
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: $183K–$437K
Working capital
$
FDD reports $5K–$20K

Unlevered ROIC · per unit

23%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$74K
EBITDA margin
28.0%
Total invested
$323K
Payback
52 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 FIRE Fitness Camp units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$1.1M

on $5.6M purchase

Total debt

$4.5M

SBA $2.8M + senior + seller note

Overview

About

FIRE Fitness Camp franchisees operate boutique group fitness facilities offering high-intensity interval training (HIIT) and boot-camp style classes. Day-to-day operations include managing class schedules, coaching group fitness sessions, managing member retention and billing, maintaining facility equipment, and overseeing staff. Franchisees are responsible for local marketing, member acquisition, and community relationship-building.

CEO
Hans Hartleben
Founded
2015
FDD year
2025
States available
1

Item 7 · what it costs

The Vitals

Total investment
$183K – $437K
All-in to open one unit
Liquid capital
$5K – $20K
Cash you must have on hand
Franchise fee
$50K
Royalty
7.0%
Percentage of Gross Revenues · typical 6–8%
Ad fund
Up to 3% of Gross Revenues
Total fee load
10.0%
vs 9–13% typical

Item 19

Financial Performance

Avg gross sales
$266K
Per unit, per year
Median gross sales
$258K
Item 19 type
Gross Revenue
Sample size
23 units
vs category median 12
Range (low → high)
$89K$447K
Cohort dispersion
Transparency
4 / 5
vs category median 4 / 5 · typical
Revenue rank7th
vs Health & Fitness peers
Investment cost rank32th
Lower investment ranks lower (better)
Royalty rate rank27th
Lower royalty = lower percentile (better)
Unit count rank59th
vs Health & Fitness peers
Risk score rank35th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
24
Opened
1
Last reporting year
Closed
1
Turnover rate
4.2%
Company-owned
1
Corporate units in the system
% franchised
96%
vs corporate-owned
Net growth (yr3)
+0.0%
Net unit change last year
3-yr CAGR
+0.0%
Compounded over last 3 years
2023
23±0
Franchised units
2024
23
Franchised units
2025
23
Franchised units

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

Item 12 · 1 state 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.

1

states with franchisees (per FDD Item 12)

Government records

SBA Loan Data

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

Total loans
12
Loan volume
Avg loan
Default rate
0.0%
vs <3% typical · system-wide
5-yr default

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

Risk & Legal

56
Risk · 0-100
MODERATE56 / 100

FIRE Fitness Camp presents meaningful risk due to undisclosed profitability data, small and potentially stagnant unit base, and lack of transparent revenue validation—making ROI projections unreliable.

Score breakdown · what drove the 56 / 100 rating

  1. 01MEDNo Item 19 (Average Unit Volume) disclosed—cannot verify if $265,695 average revenue is achievable or realistic
  2. 02MEDNet income not disclosed—7% royalty on $265,695 ($18,599) could consume most profits depending on actual operating margins
  3. 03MINOROnly 24 units with unknown growth trajectory—insufficient scale and unclear unit growth trends suggest stagnation or slow expansion
  4. 04HIGHGoing Concern = False status is unclear but implies potential franchisor financial instability or lack of disclosure
  5. 05MEDHigh investment range ($183K-$436K) with no corresponding disclosed profitability creates significant risk-to-reward imbalance
  6. 06HIGHNo litigation disclosed is positive, but small unit count limits predictability of future claims

Severity inferred from the FDD text · not a regulatory classification

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

Contract & Territory Detail

Territory
Demographics and population size
Protected territory
Yes
Initial term
5 years
Renewal term
5 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
0
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
Required
Governing law
Wisconsin

Item 11

Training & Operations

Classroom training
56 hrs
On-the-job training
8 hrs
POS system
Mindbody POS System
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

26 numbers

Locked
(920) 259-••••
WI
(920) 486-••••
WI
(715) 781-••••
WI

One-time purchase · CSV download · Validation questions included

FDD download

FIRE Fitness Camp · FDD (2025) PDF

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