Fleet FeetFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Fleet Feet franchise requires a total initial investment of $352K – $652K, including a $45K franchise fee and an ongoing 4.0% royalty[2]. Per the 2026 FDD, average unit revenue was $1.7M[2]. SBA 7(a) loans show a 7.1% charge-off rate across 28 loans[1]. Verdict grade: A. Run a live ROI scan →
Data last verified June 21, 2026 · figures per the 2026 FDD issuance
Overview
- Investment
- $352K – $652K
- 65th pct Health & Fitn…
- Avg gross sales
- $1.7M
- 53rd pct Health & Fitn…
- Royalty
- 4.0%
- 0th pct Health & Fitn…
- Units
- 283
- 93rd pct Health & Fitn…
- SBA default
- 7.1%
- system-wide median varies by category
Quick verdict · Health & Fitness · color = vs category peers
Green = >15% above Health & Fitness avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Each dollar invested generates 3.3x in gross revenue, well above the typical 1.5-2.5x range.
Franchised units fell from 197 to 183 over 3 years. Investigate why operators are leaving.
Bottom line
- Total investment $352K – $652K including a $45K franchise fee, 4.0% ongoing royalty.
- Average unit revenue of $1.7M/year (median $1.5M).
- Verdict A (Top Quintile) with a risk score of 15/100. SBA loan charge-off rate of 7.1% across 28 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- FLEET FEET, INCORPORATED
- Parent company
- ONWARD OUTDOOR BRANDS, LLC
- Ultimate parent
- INVESTOR'S MANAGEMENT CORPORATION (IMC)
- CEO title
- Chairman of Board, Director
- Joey Pointer
- Incorporated in
- NC
- HQ
- 310 East Main Street, Suite 200, Carrboro, NC 27510
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $21.2M
- vs $22.2M prior year
Affiliated brands
- RUNNING LOGISTICS
- FFS DIGITAL
- FLEET FEET SPORTS DEVELOPMENT COMPANY
- MARATHON SPORTS
- FFS Digital
Other brands the franchisor or its parent operates (Item 1).
Overview
About
Fleet Feet franchisees operate specialty running shoe retail stores, providing personalized gait analysis, shoe fitting services, and community running event sponsorships. Day-to-day operations include managing inventory of premium running brands, training staff on biomechanics, processing transactions, and cultivating local runner communities through events and group runs.
- CEO
- Joey Pointer
- Headquarters
- NC
- Founded
- 2002
- FDD year
- 2026
- States available
- 35
FDD Item 7 · 2026 filing · 10 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $23K | $45K | |
| Inventory | $80K | $140K | |
| Real Estate & Improvements | $150K | $250K | |
| Furniture, Fixtures, and Equipment | $50K | $125K | |
| Computer Hardware and Software | $16K | $24K | |
| fit id subscription | $1K | $1K | |
| Travel and living expenses while training | $4K | $6K | |
| E-Commerce Fee | $300 | $300 | |
| Legal, Accounting, and License Fees | $3K | $10K | |
| Additional Funds - 3 Months | $25K | $50K | |
| Total initial investment | $352K | $652K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
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
$519K
31.0% margin
Unlevered ROIC
96%
EBITDA / total invested capital
Payback
12 mo
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $352K – $652K
- Near category avg vs category
- Liquid capital req'd
- $25K – $50K
- Near category avg vs category
- Franchise fee
- $23K – $45K
- Better than avg vs category
- Royalty
- 4.0%
- Gross Sales · typical 6–8%
- Ad fund
- -n/d
- Total fee load
- 4.3%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 4.0% of gross sales |
| Technology fee | $1K |
| Transfer fee | $10K |
| Renewal fee | $0 |
| Inventory (initial) | $80K – $120K |
| Total fee load | 4.3% of rev |
A 4.3% total fee load is unusually lean. More of each revenue dollar stays with the franchisee.
Financial Performance
- Avg gross sales
- $1.7M
- Per unit, per year
- Median gross sales
- $1.5M
- Item 19 type
- gross_sales
- Sample size
- 248 units
- vs category median 11 · large
- Range (low → high)
- $177K→$6.7M
- Cohort dispersion (min → max)
- Quartile band
- $1.1M→$2.1M
- Bottom 25% → top 25%
- Transparency tier
- full
- Categorical assessment of disclosure depth
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 180 Health & Fitness brands
vs Health & Fitness averages
How Fleet Feet Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 283
- Opened
- 12
- Last reporting year
- Closed
- 5
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- 1.8%
- Company-owned
- 86
- Corporate units in the system
- % franchised
- 70%
- vs corporate-owned
- Net growth (yr3)
- +2.6%
- Net unit change last year
- 3-yr CAGR
- +7.7%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 9
- Closed (3yr)
- 1
- Transfers (3yr)
- 4
- Transfer rate
- 1.4%
- Owners selling to other franchisees
- Termination rate
- 0.4%
- Franchisor-initiated terminations
- Ceased ops
- 0.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 37 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
- 28
- Loan volume
- $3.4M
- Median loan
- $100K
- 50th percentile
- Charge-off rate
- 7.1%
- 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)
- 92.9%
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 20
- Defaults
- 2
Vintage analysis
Fleet Feet charge-off rate by loan vintage
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Fleet Feet'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
- 14-year lending trend
- SBA 504 real estate/equipment data
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Fleet Feet presents moderate-to-cautionary risk due to lack of profitability disclosure, anemic unit growth, and capital-intensive model without clear ROI visibility.
Litigation (Item 3)
No litigation required to be disclosed
Largest disclosed settlement: $45,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 15 / 100 rating
- 01MEDNet income not disclosed in FDD Item 19 — cannot validate profitability or ROI against $352k-$651.5k investment
- 02MINORMinimal unit growth of 2.6% YoY suggests market saturation or franchisee satisfaction issues in 283-unit system
- 03MEDHigh investment range ($299.5k spread) with no disclosed average net income creates uncertainty on payback period
- 04MINORRoyalty burden of 4% on $1.67M avg revenue ($66.9k annually) plus operating costs may compress margins significantly
- 05MINOR20-year term is unusually long and locks franchisees into potential declining retail/running shoe market trends
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 20 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius / Population |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 25 mi |
| Territory population | 200,000 |
| 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 | 25 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | North Carolina |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed
Items 10, 11
Training & Operations
- Classroom training
- 34 hrs
- On-the-job training
- 8 hrs
- Training location
- On-site and corporate
- Franchisor financing
- Offered
- Item 10
- POS system
- RICS
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: RICS
Item 20 · call current owners
Franchisee Contacts
197 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Fleet Feet · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Fleet Feet franchise?
The total investment to open a Fleet Feet franchise ranges from $352K – $652K, with an initial franchise fee of $45K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Fleet Feet franchise owners earn?
According to Item 19 of the Fleet Feet FDD, the average gross sales per unit is $1.7M. The median is $1.5M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Fleet Feet's franchise failure rate?
Based on SBA 7(a) loan data, Fleet Feet has a charge-off rate of 7.1% across 28 loans, meaning 7.1% 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 Fleet Feet franchise locations are there?
As of their most recent FDD filing, Fleet Feet has 283 total units in the United States, including 197 franchised units and 86 company-owned units. 12 new units were opened in the latest reporting year.
Is Fleet Feet a good franchise to buy?
FranchiseVerdict rates Fleet Feet as a A-grade franchise with a risk score of 15 out of 100, 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.
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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.