IMAGE Studios
Bottom line
- Total investment $773K – $1.7M including a $65K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $445K/year. Estimated payback in 8.6 years.
- Rated MODERATE with a risk score of 57/100.
- System growing at 86.8% CAGR over 3 years with 129 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 IMAGE Studios unit return on the cash you put in?
Unlevered ROIC · per unit
7%
Below typical band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 IMAGE Studios units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$1.3M
on $6.7M purchase
Total debt
$5.3M
SBA $3.3M + senior + seller note
Overview
About
IMAGE Studios franchisees operate fitness and body imaging facilities, likely offering personal training, nutritional coaching, and body composition analysis/tracking services. Day-to-day operations include client onboarding, conducting fitness assessments, managing training sessions, tracking progress metrics, and managing facility/equipment maintenance and staff scheduling.
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 20 · 28 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 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
IMAGE Studios presents moderate-to-high risk due to lack of financial disclosure, rapid unit growth sustainability questions, and high capital requirements relative to disclosed average profitability.
Score breakdown · what drove the 57 / 100 rating
- 01MEDNo Item 19 financial performance representations disclosed — cannot independently verify claimed $145,909 average net income
- 02MINORAggressive unit growth of 35.1% YoY raises sustainability concerns; rapid expansion often precedes market saturation or quality degradation
- 03MINORHigh initial investment ($773k–$1.7M) with modest average net income ($145,909) suggests 5–12 year payback period at best
- 04MINORDual royalty structure ($300/week minimum) creates unpredictable cash flow burden, especially in early ramp-up phases
- 05HIGHGoing Concern flag is FALSE but absence of explicit franchisor financial health disclosure is concerning given high franchisee investment
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
77 numbers
One-time purchase · CSV download · Validation questions included
FDD download
IMAGE Studios · FDD (2026) PDF