Row HouseFranchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
FranchiseVerdict summary · 2026
A Row House franchise requires a total initial investment of $194K – $481K, including a $49K franchise fee. Per the 2025 FDD, average unit revenue was $326K[2]. SBA 7(a) loans show a 6.4% charge-off rate across 47 loans[1]. Verdict grade: F. Run a live ROI scan →
Data last verified June 21, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $194K – $481K
- 36th pct Health & Fitn…
- Avg gross sales
- $326K
- 13th pct Health & Fitn…
- Royalty
- N/A
- Units
- 49
- 71st pct Health & Fitn…
- SBA default
- 6.4%
- 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
Started franchising in 2024. Newer systems carry more uncertainty but may offer better territories.
The system contracted 25% year-over-year. Investigate why units are closing.
The franchisor's auditor raised doubt about continued operations. This is a serious risk signal.
18 legal cases disclosed in the FDD. Read Item 3 before signing.
Bottom line
- Total investment $194K – $481K including a $49K franchise fee.
- Average unit revenue of $326K/year (median $315K).
- Verdict F (Bottom Quintile) with a risk score of 100/100. SBA loan charge-off rate of 6.4% across 47 loans (near or below the 16% franchise average, based on all SBA 7(a) franchise lending, 2010–2024).
- Auditor disclosed a going-concern note, which 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
- Row House Franchising LLC
- Parent company
- Extraordinary Brands, LLC
- Incorporated in
- VA
- HQ
- 126 Garrett Street, Suite J, Charlottesville, Virginia 22902
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $74K
- vs $100K prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
Row House operates indoor rowing fitness studios offering group fitness classes on rowing machines. Franchisees manage daily class schedules, instructor hiring/training, member acquisition/retention, facility maintenance, and retail merchandise sales in a boutique fitness model.
- CEO
- Paul Flick
- Headquarters
- VA
- Founded
- 2024
- FDD year
- 2025
- States available
- 20
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $49K | $49K |
| Working capital (3–6 mo) | $10K | $40K |
| Equipment, build-out, other | $135K | $392K |
| Total initial investment | $194K | $481K |
Source: Row House 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
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
$98K
30.0% margin
Unlevered ROIC
27%
EBITDA / total invested capital
Payback
3.7 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $194K – $481K
- Better than avg vs category
- Liquid capital req'd
- $10K – $40K
- Better than avg vs category
- Franchise fee
- $49K – $49K
- Near category avg vs category
- Royalty
- The greater of: (i) 7% of Gross Sales, or (ii) $345 per w…
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $250 |
| Transfer fee | $15K |
| Renewal fee | $5K |
| Total fee load | 9.0% of rev |
Financial Performance
- Avg gross sales
- $326K
- Per unit, per year
- Median gross sales
- $315K
- Item 19 type
- gross_sales
- Sample size
- 47 units
- vs category median 11 · large
- Range (low → high)
- $66K→$582K
- Cohort dispersion (min → max)
- Transparency
- 4 / 5
- vs category median 4 / 5 · typical
Compared against 180 Health & Fitness brands
Revenue is only 1.0x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
vs Health & Fitness averages
How Row House Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 49
- Opened
- 2
- Last reporting year
- Closed
- 18
- Turnover rate
- 36.7%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (yr3)
- -24.6%
- Net unit change last year
- 3-yr CAGR
- -39.5%
- Compounded over last 3 years
3-year detail · Item 20
- Transfers (3yr)
- 4
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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
- 47
- Loan volume
- $16.1M
- Median loan
- $345K
- 50th percentile
- Charge-off rate
- 6.4%
- 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)
- 88.5%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 20
- Defaults
- 3
Explore lender portfolios on Bank Reports or regional data on State Reports.
Premium insight
SBA Lending Report
Deep-dive into Row House'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
- 6-year lending trend
Instant access. No subscription.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Row House presents high investment risk due to accelerating unit decline, multi-state regulatory violations for fraud/misrepresentation, undisclosed profitability metrics, and ongoing litigation against management.
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 100 / 100 rating
- 01MINORSevere unit contraction of -24.6% YoY (49 units down from ~65) indicates systemic franchisee failure or dissatisfaction
- 02MEDMultiple regulatory consent orders across 4 states (CA, MD, WA, VA) for FDD misrepresentations and omissions—suggests deliberate disclosure failures
- 03HIGHLitigation involving fraud and breach of contract allegations against franchisor management—indicates trust and governance issues
- 04MINORNo Item 19 net income disclosure despite $325K avg revenue—unable to validate actual profitability claims
- 05HIGHGoing concern status combined with unit decline raises sustainability questions about franchisor viability
- 06MINORHigh royalty floor ($345/week minimum = $17,940/year) on low-margin fitness model creates cash flow pressure
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 | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 3 |
| Territory type | Radius and Population |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Virginia |
| Litigation count | 18 |
Items 10, 11
Training & Operations
- Classroom training
- 66 hrs
- On-the-job training
- 21 hrs
- POS system
- ClubReady
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: ClubReady
Item 20 · call current owners
Franchisee Contacts
39 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Row House · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Row House franchise?
The total investment to open a Row House franchise ranges from $194K – $481K, with an initial franchise fee of $49K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Row House franchise owners earn?
According to Item 19 of the Row House FDD, the average gross sales per unit is $326K. The median is $315K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Row House's franchise failure rate?
Based on SBA 7(a) loan data, Row House has a charge-off rate of 6.4% across 47 loans, meaning 6.4% 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 Row House franchise locations are there?
As of their most recent FDD filing, Row House has 49 total units in the United States, including 10 franchised units and 0 company-owned units. 2 new units were opened in the latest reporting year.
Is Row House a good franchise to buy?
FranchiseVerdict rates Row House as a F-grade franchise with a risk score of 100 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.